Software Technology Parks of India (STPI) has invested 30.87 crore rupee (US$3.59 million) in seed capital across 136 startups, as announced by director general Arvind Kumar on Mar. 21.

Additionally, STPI has provided financial support of 3.57 crore rupee (US$415,162) in stipends to 359 other startups.

So far, 134 startups backed by the incubator have secured 286 crore rupee (US$ 33.26 million) in external funding from angel investors and venture capitalists.

Women entrepreneurs lead 44% of STPI’s portfolio startups, many from Tier-II and Tier-III cities.

Kumar highlighted the need to refine policies and expand outreach to strengthen the startup ecosystem. STPI, established in 1991, operates 13+ centers of excellence, focusing on healthtech, IoT, and agritech.

This announcement aligns with commerce minister Piyush Goyal’s remarks on India’s goal of creating 5,000 unicorns.