STPI Sets Up Incubation Centre In Gurugram To Foster Blockchain Startups


The Software Technology Parks of India (STPI) has set up an incubation facility, the Apiary Center of Entrepreneurship (CoE), in Gurugram to foster 100 blockchain startups over the next five years.

The CoE, set up in collaboration with the Ministry of Electronics & Information Technology (MeitY), the Haryana government, Padup Ventures, IBM, Intel, the Government Blockchain Association (GBA) and the Foundation for Innovation and Technology Transfer (FITT), was inaugurated by MeitY secretary S Krishnan on Friday.

STPI is an organisation under MeitY. It works to working to promote IT/ITES industry, innovation, startups, among others, in emerging technologies like artificial intelligence, machine learning, robotics, blockchain, fintech, among others. Furthermore, it has launched over 20 CoEs across the country for various technologies so far.

According to a statement, the latest CoE, Apiary, has a 7,000 square feet incubation space with 80 workstations, conference rooms, and an auditorium. It aims to support startups and promote entrepreneurship in blockchain technology.

The CoE supports startups with a blockchain platform, access to experts, mentorship programs and VC funding. The STPI partnered with GBA as an industry association. The GBA shares best practices and use cases in areas like, identity management and cybersecurity.

It aim to address governance issues. The GBA is a non-profit organisation that helps government and businesses benefit from blockchain technology. Governments and businesses are increasingly using blockchain and exploring new use cases. Reliance Industries and the Tripura government are among those adopting blockchain. Finance Minister Nirmala Sitharaman sees the benefits but also highlights the risk of anonymity.

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