To promote an entrepreneurial spirit amongst youth, researchers, engineers and society at large and by promoting cutting edge information technology start-ups in the latest technologies, a Centre of Excellence (CoE) on Blockchain Technology will be set up at STPI Gurugram.

The Software Technology Parks of India (STPI), an organisation under Ministry of Electronics Et Information Technology (MeitY), Government of India in association with MeitY and Department of Information Technology, Electronics Et Communication, Haryana (DITECH) will set-up the CoE.

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The CoE will be established in 10000 sq. ft. with a budget provision of Rs 25 crore over a period of five years and approximately 100 Startups are expected to benefit from the same. The centre will be made operational by March 2020.

Sharing more information in this regard, an official spokesperson of the Information Technology, Electronics and Communication Department, said that Haryana Government has always been a key driver for increased adoption of Information Technology (IT) and IT-enabled services through sectoral reforms and adoption of Digital India program which have led to the creation of large-scale IT infrastructure with corporate / private participation.

He said that in this CoE, mentors will train the startups through a well-defined “Incubation and Acceleration Process” by validating the innovative Ideas, build product Et services around it, reach out to the market through a well-defined marketing strategy with industry connect, provide access to Angel, seed and VCs to fund the venture at various stages to build sustainable and scalable business.

The spokesman said that in the view of the growth of IT and Communication sector in Haryana setting up the CoE will certainly help in nurturing startups on cutting edge technologies in the Block Chain domain and help in converting the State into a digitally empowered society, a knowledge economy and to improve the quality of service delivery.

While, sharing the key objectives of the CoE, the spokesperson said that the CoE will be set up to identify and support potential cutting edge information technology entrepreneurs especially in the field of Blockchain Technology and its Application with a viable business plan.

He said that the CoE will provide technical assistance in the development of processes, technologies and product along with managed workspace.  He said that the CoE will also provide mentoring and marketing assistance. Apart from this, it will also connect researchers and entrepreneurs to commercialise innovations and further increase the economic and social growth of the region as well as the country.