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STPI Establishes Cutting-Edge Blockchain Incubation Hub In Gurugram

The facility was inaugurated by Ministry of Electronics and Information Technology Secretary S. Krishnan

STPI Establishes Cutting-Edge Blockchain Incubation Hub In Gurugram
Blockchain Incubation Hub, Gurugram
POSTED ON October 20, 2023 7:15 PM

The Software Technology Parks of India (STPI) achieved a significant milestone with the inauguration of a cutting-edge incubation facility at the Apiary Center of Entrepreneurship (CoE) in STPI-Gurugram.

The facility within STPI is dedicated to blockchain technology and is established through a collaborative effort involving MeitY, STPI, the Government of Haryana, Padup Ventures, IBM, Intel, GBA, and FITT. The CoE represents a groundbreaking initiative aimed at identifying and nurturing promising start-ups while fostering entrepreneurship in the realm of Blockchain Technology. The facility spans 7,000 square feet and is fully furnished, featuring 80 plug-and-play workstations, conference rooms, and an auditorium. Over the course of five years, it aims to incubate a total of 100 start-ups, setting the stage for innovative developments in this field. 

“Meeting the young entrepreneurs was quite an enriching experience. The way these entrepreneurs have addressed real-world problems using cutting-edge technology is really commendable. These entrepreneurs aren’t confined to national boundaries and this quality distinguishes them from others. In the last three decades, the way we have used technology is the key benchmark for our country’s exponential growth,” said S. Krishnan, secretary of MeitY.  

Sushil Pal, joint secretary of MeitY, said, “Blockchain technology can be sustainable for our economy. It can be used right from supply chain to waste management. It has the potential to become an enabler in sustainable growth.”  

Arvind Kumar, director general of STPI said, “Blockchain technology has a lot of potential and is considered to be the biggest invention since the internet. This incubation facility at Apiary CoE is a stepping stone towards India’s digital transformation.”  

Apiary has been set up at STPI, Gurugram to offer a substantial opportunity to innovative start-ups working in this technology to address issues that necessitate the usage of Blockchain for the establishment of trust in a decentralised manner and other purposes.

Apiary CoE provides comprehensive support to start-ups (in the form of a dedicated Blockchain platform, access to Technocrats, mentorship, mentoring programs, VC funding, etc., and collaboration with all ecosystem players) with the ultimate objective of making India a world leader in technology space and creating a pipeline of future jobs-creating businesses. 

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