Software Technology Parks of India
The centre recently announced a 4 months rental waiver for IT companies operating from the STPI centres in light of the COVID-19 crisis.
About the Rental Waiver
The government announced a waiver of rental payment for small IT firms operating out of STPIs in India. Most of these firms are technology MSMEs and start-ups and the four month waiver comes as a relief to the financially affected small players. The waiver is expected to cost around 5 crore INR but will benefit nearly 200 firms across 60 STPI centres and also its 3,000 employees.
About STPI
STPI is an autonomous society set up in 1991 by the Union Ministry of Electronics and IT. Its purpose is to ‘encouraging, promoting and boosting the Software Exports from India’. These parks have engineering resources to providing training, consultation and implementation services.
Entrepreneur Park
The entrepreneur park is a joint venture concept by STPI and IESA (Indian Electronics and Semiconductor Association). It is a project under the ‘Make in India’ initiative and it aims to support 50 start-ups that are working on design and development of electronic products.
