Software Technology Parks of India (STPI) has rolled out the second edition of its LEAP Ahead initiative, aiming to provide funding and support to 25 startups located in Tier II and III cities. Each selected startup can receive funding of up to Rs 1 crore, with an initial investment of Rs 25 lakh followed by potential follow-on funding based on performance, according to media reports.
Arvind Kumar, STPI's Director General, shared that this initiative builds on the success of its predecessor, which saw investments exceeding Rs 78 crore for the startups involved. In addition to financial support, the selected startups will also benefit from mentorship and guidance to help foster their growth, as per media reports. The program has already garnered interest from private investors to enhance its impact.
During the India Mobile Congress, STPI also announced the winners of its Smart Farm Grant Challenge, focusing on innovative solutions for challenges in sugarcane harvesting, with Satyukt Analytics from Karnataka emerging as the top contender.
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