STPI Establishes Cutting-Edge Blockchain Incubation Facility in Gurugram to Foster Entrepreneurship

Software Technology Parks of India (STPI) reached a significant milestone with the inauguration of the Apiary Center of Entrepreneurship (CoE), a state-of-the-art incubation facility, by the Ministry of Electronics & Information Technology (MeitY) Secretary, S. Krishnan.

Apiary, a CoE under STPI, specializes in Blockchain Technology and is established through a collaboration between MeitY, STPI, the Government of Haryana, Padup Ventures, IBM, Intel, GBA, and FITT. It’s a pioneering initiative aimed at identifying and nurturing promising startups in the field of Blockchain Technology, fostering entrepreneurship. The facility spans 7,000 sq. ft. and is fully equipped with 80 plug-and-play workstations, conference rooms, and an auditorium. Over the next five years, it aims to incubate a total of 100 startups.

During the inauguration, S. Krishnan explored the Apiary incubation facility and engaged with young entrepreneurs. He expressed admiration for how these entrepreneurs are addressing real-world issues using cutting-edge technology, emphasizing their global perspective. Krishnan underscored the pivotal role technology has played in India’s exponential growth over the last three decades.

Sushil Pal, Joint Secretary at MeitY, highlighted the sustainability of Blockchain technology in the Indian economy. He noted its potential applications, from supply chain management to waste disposal, as a catalyst for sustainable growth.

Arvind Kumar, Director General of STPI, discussed the transformative potential of the Apiary CoE’s incubation facility, particularly in the context of India’s digital transformation. He stressed that Blockchain technology is a significant invention, akin to the internet, with far-reaching implications.