Punjab Government’s Major Thrust For Start-ups By Setting Up Of Startup Punjab Hub At STPI Mohali

The State of Punjab has identified Startup and Entrepreneurship as a key pillar for economic growth, job creation, wealth creation and competitiveness. To carry forward this vision, the State plans to launch Startup Punjab, a hub to build a strong eco-system for nurturing innovation and Startups. This hub will ensure necessary convergence and synergy in various Central and State programs promoting innovation, entrepreneurship and Startups. The proposed Startup Hub will promote networking of various reputed academic institutions carrying out research and innovation and other organizations running incubators and accelerators.

STPI has come up with its state-of-art Incubation Centre in Mohali with 1.40 Lac. Sq. feet facility with 160 Rack of Tier 3 Data Centre and a floor dedicated to skill development. Startup Punjab Hub is proposed to be housed in the above STPI newly constructed Infrastructure with a mandate to Launch and Promote the flagship program of Startup and Entrepreneurship in the State of Punjab.

ISB a leading institution would also be a partner of this HUB and would leverage its expertise and research capabilities for promoting innovation, entrepreneurship and Startups in the State through this Hub.

Startup Punjab Hub will be the single point of contact for the entire Startup ecosystem and enable knowledge exchange and access to funding, in partnership with Start-up India Hub, which will be a key stakeholder in the emerging vibrant ecosystem and the hub will

  1. Work in a hub and spoke model and collaborate with Central & State governments, Indian and foreign VCs, angel networks, banks, incubators, legal partners, consultants, universities and R&D institutions.
  2. Assist Startups through their lifecycle with specific focus on important aspects like obtaining financing, feasibility testing, business structuring advisory, enhancement of marketing skills, technology commercialization and management evaluation.
  3. Organize mentorship programs in collaboration with government organizations, incubation centers, educational institutions and private organizations who aspire to foster innovation.
  4. To all young Punjabis, who have the courage to enter an environment of risk, the Startup India Hub will be their friend, mentor and guide to hold their hand and walk with them through this journey.

This hub will go a long way to ensure convergence and synergy in various Central and State programs promoting innovation, entrepreneurship and Startups. The proposed Startup Hub will promote networking of various reputed academic institutions carrying out research and innovation and other organizations running incubators and accelerators in thew state.