STPI to set up Centre of Excellence in Mohali

Vijay C Roy

Tribune News Service

Chandigarh, September 30

If you are a techie and harbouring an entrepreneurial dream in Data Analytics (Big Data), Artificial Intelligence (AI), Internet of Things (IoT) and Audio Visual Gaming (AVG), then Mohali could be the ideal location for you. From offering infrastructure to funding, including seed capital, the upcoming Centre of Excellence (CoE) called ‘Neuron’ at Mohali by the Software Technology Parks of India (STPI) will offer comprehensive support to the startups.

According to experts, the lack of investor ecosystem, especially funding, mentorship and industry involvement are major impediments that startups face. So setting up the CoE and offering support in the form of mentoring, industry connect, market access, networking and funding access, access to STPI Mohali Data Centre and high-speed Internet access will go a long way in promoting Big Data, AI, IoT and AVG. Neuron plans to incubate 50 startups in each every year.

“We are looking at multiple options to offer seed money to our successful incubates at the CoE where they can access funds up to Rs 25 lakh. We are contemplating to have CSR-structured funds, industry support and support from the Central government to nurture these startups. We are also looking for venture capital in association with private participation and funds from the Central government to further scale up,” said Subodh Sachan, Director and CEO, STPI Next.

STPI Next is the latest endeavour of STPI in promoting and encouraging innovation-led entrepreneurship through building an ecosystem to facilitate incubation, mentoring, R&D, industry-connect and funding.

This is the sixth CoE by STPI. The existing five are in Chennai, Bhubaneswar (two), Bengaluru and Pune. The CoE at Mohali, which will be operational by January next, is coming up in association with the Ministry of Electronics and Information Technology (MeitY), Punjab government, Indian School of Business (ISB), Punjab Technical University (PTU), IIT-Ropar, TiE Chandigarh and Chandigarh Angel Network.

The centre is being set up at a project cost of Rs 20.92 crore over five years. The Punjab government will provide Rs 10 crore while the remaining will be funded by MeitY, STPI and other stakeholders. 

Dr Omkar Rai, Director General, STPI, said, “We believe with the promotion of disruptive technology-led innovations and supporting ecosystem, such initiatives will transform not only Mohali but the whole country into a hub for new generation software products.”

AI and IoT are emerging and fast-growing digital technologies and both are complementing each other in providing a variety of solutions. The combination of IoT, Big Data and AI is fuelling futuristic innovative solutions in healthcare, digital business, cyber security, smart cities among others.

About the centre 

• To be operational: By January 2020
• Area: 33,026 sq ft (incubation space)
• Capacity: 500 plug and play seats
• Facilities: Data Analytics Lab, AVG Lab and Innovation IoT Lab