To foster innovation and drive efficiency across diverse sectors, the Software Technology Parks of India (STPI) has joined forces with the Government of Karnataka, supported by HPEIPL, to inaugurate the Center of Excellence (CoE) on Efficiency Augmentation.
This far reaching STPI CoE, located in Jayanagar, Bengaluru, marks India’s first immersive hub dedicated to innovation, creativity, and new business development aimed at enhancing efficiency across various industries, the service sector, and governmental operations leveraging emerging Industry 4.0 technologies.
The state-of-the-art facility at Jayanagar stands as a pivotal of innovation, comprising an Innovation and Development Lab equipped with cutting-edge tools for startup support, a sprawling 16,000 square feet incubation space accommodating over 100 plug-and-play seats, and a dedicated training facility.
The primary objective of this CoE is to nurture startups focusing on the development of products and solutions aimed at elevating industrial production, service sector efficiency, and governmental project operations through the application of emerging technologies.
How to Apply for STPI Efficiency Augmentation CoE Admission
Address and Application Details:
Interested Indian startups and companies engaged in Emerging Industry 4.0 Technologies are encouraged to apply for utilizing the CoE’s Innovation and Development Lab Equipment. Eligible entities must be incorporated as Private Limited Companies, Registered Partnership Firms, or Limited Liability Partnerships, in line with defined legal statutes.
However, selection mandates that chosen startups share 5% equity with STPI. Additionally, startups must book time slots in advance for lab access and comply with the stipulated terms and conditions for physical incubation space allocation.
Innovation Scope and Focus Areas
The CoE on Efficiency Augmentation has outlined problem statements across various domains including Smart Water, Home/Office Automation, Smart Energy, Smart Manufacturing, and more. These statements challenge innovators to devise solutions employing Industry 4.0 technologies, targeting water scarcity, enhancing living and working spaces, optimizing energy consumption, and revolutionizing manufacturing processes.
Selection Process and Timeline
The selection process involves three phases: inviting applications, scrutinizing ideas and solutions, and selecting startups through pitch sessions. The timeline spans from the application start date on November 30, 2023, to the announcement of results on January 18, 2024.
Comprehensive Offerings for Selected Start-ups
Successful applicants gain access to a multitude of resources including the Innovation and Development Lab, plug-and-play incubation space, training facilities, technical and mentoring support, industry connections, financial assistance, networking opportunities, access to funding agencies, IPR support services, IoT and SMART Lab access, among other benefits.
The CoE on Efficiency Augmentation stands as a pioneering platform poised to revolutionize the innovation landscape by empowering startups and fostering a culture of technological advancement and efficiency augmentation in India.
