Software Technology Parks of India (STPI) is all set to set up a brand new incubation facility in Patna with an investment of whopping ten Crores in order to meet the needs of the Information Technology industry and promote young entrepreneurs.

According to the plan, the new incubation facility can be expected to be operational within eighteen months. The facility will result in the creation of indirect and direct employment in Patna region.

The foundation stone of the new incubation facility was laid down by the IT and Communications Minister Ravi Shankar Prasad on November 8th, 2014.

According to a statement released by STPI, an organization under the Department of Electronics & Information Technology, the organization has been bestowed upon the duty to set up the new incubation facility that will cater to the needs of young entrepreneurs and their startups. The new facility will reportedly be 8,000 sq ft in size and require an investment of ten crores.

The incubation facility will also double up as a resource centre for IT/ITeS exporting units. It will offer them infrastructural facilities like high speed data communication with uninterrupted data connectivity and other things required for the export and development of software and services.

The facility will also be put in use for one of the programmes under the PM’s Digital India initiative, which involves indigenous production of software and IT hardware for exports and supports software product based startups.

The Software Technology Parks of India was set up in 1991 by the Ministry of Communications and IT in order to promote IT/ITeS exports from the country.  Exports by STP units have seen a tremendous growth from a mere Rs. 52 crore in the year 1992-93 to a whopping Rs. 2.73 lakh crore in 2013-14. Out of the total 53 STP centres in the country, 46 are located in tier-II and tier-III locations.

The Patna facility was established by STPI long back in 2008. The STPI has created 11,500 sq ft of hi-tech space in three acres of campus at Pataliputra Industrial area.  In the year 2013-14, the cumulative exports of the region stood at Rs 35 crore, while the software exports stood at Rs. 10 crore.

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