With a vision to promote entrepreneurial spirit amongst youth, researchers, engineers and society at large by promoting cutting edge information technology start-ups in latest technologies, a Centre of Excellence (CoE) on blockchain technology will be set up at STPI Gurugram.
An official spokesman said that the Centre would be set up by Software Technology Parks of India, an organization under Union Ministry of Electronics and Information Technology (MeitY), in association with MeitY and Department of Information Technology, Electronics and Communication, Haryana (DITECH).
He said that the CoE will be established in 10,000 square feet with a budget provision of Rs 25 crore over a period of five years and about 100 start-ups are expected to benefit from it. The Centre is expected to be operational by March 2020. The Centre will help in nurturing startups on cutting edge technologies in the blockchain domain and help in converting the State into a digitally empowered society, a knowledge economy and to improve the quality of service delivery.
He said that in this CoE, Mentors will train the startups through a well-defined “Incubation and Acceleration Process” by validating the innovative Ideas, build product and services around it, reach out to the market through a well-defined marketing strategy with industry connect, provide access to angel, seed and VCs to fund the venture at various stages to build sustainable and scalable business. The key objectives included identifying and supporting potential cutting edge information technology entrepreneur especially in the field of blockchain technology and its application with a viable business plan, providing technical assistance in the development of processes, technologies and product along with managed workspace, provide mentoring and marketing assistance, connect researchers and entrepreneurs to commercialize innovations and to increase economic and social growth of the region as well as the country.