STPI and TiE Delhi-NCR Launch LEAP AHEAD Initiative to Empower Tech Startups

• ByStartupStory     |    November 7, 2023

In a concerted effort to bolster and expedite the growth of technology startups in India, the Ministry of Electronics & Information Technology (MeitY) Secretary, Shri S. Krishnan, unveiled the LEAP AHEAD initiative. This program is a collaborative endeavor between the Software Technology Parks of India (STPI) and The Indus Entrepreneurs (TiE) Delhi-NCR, aimed at fostering startup success in the tech sector. The launch took place during the LEAP AHEAD summit in the presence of prominent figures such as Shri Arvind Kumar, Director General, STPI; Shri Sushil Pal, Joint Secretary, MeitY; Dr. Saurabh Shrivastava, Chairman Emeritus, TiE Delhi-NCR & Co Founder, Indian Angel Network; Shri Alok Mittal, Co-founder, Indifi Technologies & President, TiE Delhi-NCR; Shri Ashok Singh, Executive Vice President, Investor Relations, Mumbai Angels; Shri Prem Bharthasarathy, Managing Partner, Pontaq Ventures India LLP; Shri Devesh Tyagi, Senior Director, STPI; Shri Subodh Sachan, Director, Innovation and Startups, STPI; and Ms. Manjusha Chourasia, Scientist ‘E’, MeitY.

The LEAP AHEAD initiative has the potential to be a game-changer for tech startups in various stages, including scaling, growth, diversification, and expansion into new regions. Startups can benefit from funding support of up to ₹1 Crore, coupled with an intensive three-month mentorship program, combining virtual and in-person sessions to ensure a comprehensive learning experience. Moreover, this initiative provides startups with access to a vast network of seasoned investors and industry experts for personalized guidance through one-on-one mentorship sessions.

Secretary MeitY, Shri S. Krishnan, highlighted the timeliness of the LEAP AHEAD initiative, emphasizing the entrepreneurship opportunities in India. He underlined India’s evolution from a BPO destination to a global hub for capabilities and R&D. The initiative aims to tap into the ambition of youth in smaller Indian cities who aspire to achieve more. Shri Krishnan expressed the desire to see more women and entrepreneurs from tier 2/3 cities.

Shri Arvind Kumar, DG, STPI, outlined the two primary focuses of the program – mentorship and co-investment. He explained how technology startups will gain market entry, experience rapid growth, and explore new horizons.

Dr. Saurabh Shrivastava, Chairman Emeritus, TiE Delhi-NCR, emphasized that the collaboration between STPI and TiE Delhi-NCR offers not only funding but also mentoring and market access, utilizing the expertise of individuals who have built successful companies.

Alok Mittal, President, TiE Delhi-NCR, echoed the organization’s mission to foster ecosystems. The program’s objective is to mentor 75 companies over three months, aiming to secure funding for approximately 15 of them.

This initiative equips startups with the tools needed to achieve product-market fit, identify customer segments, develop growth hacking strategies, ensure business compliance, lead recruitment, and fundraise. As part of this exciting journey, the LEAP AHEAD Accelerator Program will extend its reach to cities like Vijayawada, Chandigarh, and Bhubaneswar.

The launch event featured three-panel discussions focusing on the path to a product-oriented nation, accelerating innovation, and insights into navigating the investment landscape. Esteemed panelists shared their wisdom and insights with aspiring entrepreneurs in the audience. The event also provided an invaluable platform for networking, and connecting entrepreneurs with peers, potential investors, and influential thought leaders in the entrepreneurial ecosystem.

During the event, a knowledge report titled “From Startup to Scale Up: The Role of Digital India and Opportunities Ahead” was unveiled. This comprehensive resource showcases success stories of startups that harnessed Digital India’s potential to create innovative solutions, address societal challenges, and drive economic growth and job creation. Additionally, seven MoUs were exchanged between STPINext and ecosystem enablers, and the event felicitated the winners of the Build for Bharat IoT Challenge. Moreover, 20 startups collectively received ₹6.1 crore from NEXTGen Technology Fund1, the fund established under the NGIS scheme with STPINEXT as an anchor investor and other backers.

Follow Startup Story