STPI sets-up incubation hub to incubate 100 blockchain startups in 5 years

State-run Software Technology Parks of India has set-up an incubation facility at its Gurugram campus with a target to incubate 100 startups in five years, an official statement said on Friday.

The incubation facility of Apiary Center of Entrepreneurship (CoE) at STPI-Gurugram was set up in collaboration with MeitY, STPI, Haryana government, Padup Ventures, IBM, Intel, GBA and FITT.

"Apiary is one of the CoEs of STPI which is focused on Blockchain Technology. It targets to incubate an overall 100 startups in a period of five years," the statement said.

The incubation facility was inaugurated by Electronics and Information Technology Secretary S Krishnan.

"Meeting the young entrepreneurs was quite an enriching experience. The way these entrepreneurs have addressed real-world problems using cutting-edge technology is really commendable.

"In the last three decades, the way we have used technology is the key benchmark for our country's exponential growth," Krishnan said.

The CoE has a fully furnished incubation infrastructure of 7,000 square feet equipped with 80 plug-n-play seats, conference rooms and an auditorium.

"This incubation facility at Apiary CoE is a stepping stone towards India's digital transformation," STPI, Director General, Arvind Kumar said.