STPI’s LEAP AHEAD 2nd Edition at IMC 2024 promises to revolutionize tech startups

Following the success of its first edition, the Software Technology Parks of India (STPI) launched LEAP AHEAD 2 at the Indian Mobile Congress 2024 in New Delhi. The initiative was launched by K. K. Singh, Joint Secretary, Ministry of Electronics & Information Technology (MeitY) and Arvind Kumar, Director General, STPI; Dr Rasappa Viswanathan, Director, ICAR Indian Institute of Sugarcane Research; Pradeep Gupta, Chairman & Managing Director, CyberMedia and Board Member, TiE Delhi-NCR; and Roshan Lal Tamak, Executive Director & CEO, DCM Shriram, Dr. Sanjay Gupta, Senior Director, STPI; and Subodh Sachan, Director, STPI.

While the first edition anchored young entrepreneurs and tech startups, the second edition promises to revolutionize tech startups in scaling, product diversification, and regional expansion. With up to Rs 1 crore in funding support, the program includes a comprehensive three-month mentorship program offering a mix of virtual and in-person sessions. Startups will also gain access to a vast network and tailored one-on-one mentorship from seasoned investors and industry leaders.

K. K. Singh, Joint Secretary, MeitY, highlighted the program’s focus on driving business growth and global connections for startups, He said, “Startups excel in product development, but business development needs greater emphasis. Innovation thrives with the right mentorship and strategic incubation. The LEAP AHEAD initiative will empower startups by focusing on business growth, venture connections, international collaborations, and IP filings. Technology can revolutionize sectors like agriculture, and we must shift our focus from generating grants to empowering startups to succeed independently.”

Arvind Kumar, Director General, STPI, expressed his enthusiasm for the initiative and shared his wisdom, saying, “The need of the hour is to create a system, where we have a pool of real investors. An initiative like LEAP AHEAD is a step towards it. In the first edition of LEAP AHEAD, three startups have bagged commitment leads from global investor in the TiE Silicon Valley event and 47 others from the programme will get investment from other investors. So, all these achievements led us to launch LEAP AHEAD 2nd edition.”

“STPI fosters opportunities for tech startups across different sectors, where innovations in MedTech find applications in Defence, and FinTech supports the growth of Agri-Tech. One of the most promising emerging sectors is electronic manufacturing, and LEAP AHEAD 2 will focus on empowering this domain. By creating new avenues for growth, particularly in Tier-2 and Tier-3 cities, we are building a vibrant startup ecosystem. Through market access, mentorship, and co-investment opportunities, we aim to nurture talent across India, ensuring they flourish in the nation's evolving technological landscape,” said Kumar.

During the event, STPI declared the winners of the Smart Farm Grant Challenge Program, focused on identifying impactful solutions to address key problem statements related to sugarcane harvesting.

The Recognition and Award Ceremony, celebrating India’s best Agri-Tech startups for their groundbreaking contributions to smart farming innovations, saw Satyukt Analytics from Karnataka selected as the final winner of this Smart Farm Grant Challenge, wherein MeitY has provided Rs 50 lakhs as the Product Development Grant. It will be provided further support of Rs 10 lakhs per year for next two years towards Operation & Maintenance of the solution for the Government and dissemination advisory to farmers.

The event also featured a video presentation showcasing the launch of Electropreneur Park 2.0, a collaboration between MeitY and STPI that promotes emerging startups in the Electronics System Design & Manufacturing (ESDM) sector.

The launch was followed by two pivotal panel discussions on Seeding Success: Investment Insights into startups supported through LEAP AHEAD, and Leveraging Ecosystem: Networking Opportunities created through LEAP AHEAD.

Esteemed panelists from the industry shared insights with young entrepreneurs in the audience. The event also served as a platform for invaluable networking, connecting entrepreneurs with peers, potential investors, and influential thought leaders within the entrepreneurial ecosystem.