Software Technology Parks to become operational soon in Amritsar

Amritsar may soon be a hub of small and medium enterprises (SMEs) in Punjab after Mohali as the much-awaited state-of-the-art second centre of Software Technology Parks of India (STPI) is expected to become operational soon. STPI Director General Arvind Kumar told the media that the facility is ready and will be inaugurated soon. Since the STPI is operating on the modalities to bring in information technology (IT) and Information Technology enabled Services (ITes) companies to tier-II and III cities, this will be a step in that direction. STPI Director General Arvind Kumar was in the city to participate in the seventh edition of North India’s biggest startup and Entrepreneurial Event TieCon 22. The ecosystem should concentrate on new startup units and big IT organisations for the IT sector development in the area. Due to the high cost of land, small new IT units are unable to begin operations. So this incubation facility in Amritsar will go a long way in encouraging entrepreneurship in the area. The STPI at Mohali recorded an export turnover of Rs 5,000 crore last financial year (FY). Presently, there are 42 startups registered with Startup Punjab. Secretary-cum-Director Industries and Commerce, Punjab, Sibin C, said the number might look small, but the quality of the start-up was exceptional. The state has already launched Innovation Mission Punjab, a unique public-private partnership (PPP) to get in leading global investors and experts to catalyse the start-up ecosystem in the state to promote start-ups. The mission plans to unleash Punjab’s growth potential and produce a booming economy that generates jobs. An innovation fund of Rs 150 crore had also been generated to fund the start-ups, Sibin said. The STPI centre will offer facilities such as plug and play, incubation, data centre and is spread over 40,000 sq ft. It will motivate IT/ITes entrepreneurs to set up shop and begin operations in the area. Image Source Also read: Govt approves Rs 20 crore for IT park facility in Nashik