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LEAP AHEAD Initiative Launched to Support Tech Startups in India

  • 08 Nov 2023

On 6th Nov, the Ministry of Electronics & Information Technology (MeitY) introduced the LEAP AHEAD initiative, a collaboration between Software Technology Parks of India (STPI) and The Indus Entrepreneurs (TiE) Delhi-NCR, at the LEAP AHEAD Summit.

  • This initiative is aimed at bolstering the success of tech startups in India, particularly those in the scaling, growth, product diversification, or expansion stages.

Key Points

  • Support for Tech Startups: The LEAP AHEAD initiative aims to be a game-changer for tech startups, offering funding support of up to Rs. 1 Crore and a comprehensive three-month mentorship program.
  • The mentorship program includes a blend of virtual and in-person sessions, ensuring a well-rounded learning experience.
  • Access to Network and Guidance: Startups will have access to a vast network and personalized guidance through one-on-one mentorship sessions with experienced investors and industry experts.
  • Emphasis on Entrepreneurship Opportunities: The initiative aims to encourage entrepreneurship, especially among youth in smaller cities.
  • Regional Expansion: The LEAP AHEAD Startup Summit is not limited to Delhi but is also planned to be held in Bhubaneswar, Vijayawada, and Chandigarh, expanding its reach to various regions.
  • Comprehensive Development: The initiative will help startups establish a product-market fit, identify customer segments, develop growth strategies, navigate business compliance, recruit leadership, and secure funding.
  • Knowledge Report: A knowledge report titled "From Startup to Scale Up: The Role of Digital India and Opportunities Ahead" was unveiled during the event.
  • The report showcases success stories of startups leveraging Digital India to address societal challenges and drive economic growth and job creation.
  • MoUs and Funding: Seven MoUs were exchanged between STPINext and ecosystem enablers, and 20 startups received a cumulative Rs. 6.1 crore from NEXTGen Technology Fund1, established under the NGIS scheme.