Chennai, Aug 20 (PTI): Aimed at benefiting then industry-academia partnership, the Software Technology Parks of India (STPI) set up by the Ministry of Electronics and Information Technology on Tuesday said it was establishing an incubation centre that would entail investments of Rs 40 crore, a top official said.

To set up the STPI-IT (information technology) incubation centre at the Government College of Technology, Coimbatore, the government has alloted 3-acres of land, STPI director-general Omkar Rai said here.

"The investments expected will be Rs 40 crore. This will cater to the needs of IT, IT-enabled services. It will also give a boost to entrepreneurship and exports from the region," he told reporters here.

For setting up the incubation centre, a memorandum of understanding (MoU) was signed in the presence of secretary to department of higher education Mangat Ram Sharam and Omkar Rai. The centre would facilitate and support the entrepreneurs of the state to explore global opportunity in the IT and IT-enabled services.

To recall, in August last year STPI had launched Incubation centre and a Fab Lab 'STPI ELITE' for electronics and IT startups in Orissa state. The centre received investment of approximate Rs. 50 Crores.

"STPI will create a state-of-the-art incubation centre for providing raw and plug-in-play incubation facility to the industry especially for start-ups and entrepreneurs," he said.

The initiative would further strengthen the industry-academia relationship and also offer a platform for 'Future-Ready Technology', especially in Coimbatore.

With the facility, the employability skills can be achieved by transforming graduates into professionals by conducting special trainings in block chain, artificial intelligence, machine learning and internet of things, he said. PTI VIJ

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