Young entrepreneurs write new chapter in Mohali’s growth story
Ajay Prasad Shrivastava, additional director at the STPI, Mohali, says the idea behind accommodating startups is to provide them conducive entrepreneurial ecosystem and at the same time help them promote their innovation and software product development.punjab Updated: Jul 09, 2017 12:15 IST
When Taranjeet Singh Bhamra, an Indian Institute of Technology (IIT) and Indian Institute of Management (IIM) alumnus, started his own venture, he was looking for an affordable infrastructure and access to venture capitalists.
Having worked in various multinational companies, Bhamra is developing agricultural sensing technologies that measure and collect data on every aspect of farm production.
The field is promising, but his firm, AG Next, needed a push to take the next step.
It was at this time that the ‘plug and play’ facility created at the Software Technology Park of India (STPI)’s subcentre in Mohali’s Industrial Focal Point assisted him in his venture.
“It’s good that the government is hand-holding the beginners,” says Bhamra. “It is not just helping us with affordable office space and resource development, but is crucial for our initial growth.”
The plug and play facility has attracted many young entrepreneurs, with 20 of them already beginning the operations and working on different product developments.
The centre’s new building that came up in April this year has 100 cabins to assist startups, which are being offered low-cost office space along with other services like contact building with investors and product promotion.
While 25 more entrepreneurs will be accommodated soon, applications have been invited from others working on new innovations and looking for an initial career push in the IT industry.
Ajay Prasad Shrivastava, additional director at the STPI, Mohali, says the idea behind accommodating startups is to provide them conducive entrepreneurial ecosystem and at the same time help them promote their innovation and software product development. “With many minds already in, the results will be positive,” he says.
On the rise
The software export from Mohali has already touched Rs 695 crore in 2016-17. Most of the revenue has come from 40 information technology (IT) firms working at the Quark City, which is notified as a special economic zone, and other IT firms registered with the STPI for export business.
The basic mandate of the STPI is to promote export from the region and push young brains.
Taranjeet Singh Bhamra is not the only one, who is part of this new chapter of Mohali’s growth story. Karamjeet Singh, a BTech graduate, is developing products for healthcare sector.
Pointing to the initial concern of startups, i.e. adequate funding, Karamjeet is hopeful that with the STPI’s support, he will get the funds under central government schemes. Ashutosh Tiwari, who is developing an application on farm advisory, says the main advantage of this centre is that it has created space for data storage on the first floor, which is helpful for the growth of the IT business.
Apart from the facility for startups, the STPI centre has space on third to sixth floors for entrepreneurs to start their business as per their own modified office design.
What is plug and play facility?
• The Software Technology Park of India’s facility provides cabin space to young entrepreneurs, who can't afford their own office space
• They also get the support in building contacts and getting investors, besides in product development
How to get office space?
• Freshers with ideas in IT business are given priority
• The STPI’s advisory board allots space based on the applicant's nature of product and R&D
What does it cost?
• The rent for a cabin is not more than Rs 6,000 a month. It is negotiable too.