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STPI to launch angel funding for IT & electronics start-ups

Plans to float a special purpose vehicle and tie up with private funding agencies for funding enterprises

An electronics plant in Amberg (Germany) is an example of a digital factory

The Software Technology Parks of India (STPI), which has been promoting softward exports from the country, is planning to float a special purpose vehicle to provide angel funding to IT and electronics start ups in the country said Omkar Rai, director general, STPI. Software companies registered with the society have exported Rs 3.13 lakh crore during 2015-16, and are expected tp post a growth of around 7-10 per cent this year. The STPI, which also acts as a single-window clearance facilitator for the software exporters, has been changing its focus over the past few years, after the ...