STPI signs MoUs with IDBI Capital Market & Securities Ltd & MergerDomo – CRN

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AIC STPINEXT Initiatives (STPINEXT), a Special Purpose Vehicle of Software Technology Parks of India (STPI), an organization under the Ministry of Electronics and Information Technology (MeitY) has signed two Memoranda of Understanding (MoU ), one with IDBI Capital Markets & Securities Limited (ICMS), a well-known investment banking and financial services company and another with MergerDomo, a global online marketplace that enables fundraising and advice to startups from the country. These partners would play a critical role in supporting and coaching startups on the growth journey through technical advice and assistance, mentorship, investor pitches, funding support, market connection and access, etc

Speaking on the occasion, Shri Arvind Kumar, CEO, STPI, underlined: “STPI and STPINEXT have created a strong collaborative ecosystem and are constantly striving to improve it to scale emerging tech startups into self-sustaining businesses and ready for the market. To meet the diverse needs of startups, STPI & STPINEXT have partnered with various organizations that excel in their functional areas. Going forward, collaboration will be a key parameter for success, and STPI’s strong CoE ecosystem is a clear manifestation of this.

STPI has announced the establishment of over 25 Entrepreneurship Centers (CoEs) in specific fields spread across India. To further strengthen the startup ecosystem, STPINEXT partners with IDBI Capital Market &Securities Ltd. and MergerDomo. Future support from these organizations will be of immense value to the startup community.

Shri Subodh Sachan, Director, STPI & MD & CEO, STPINEXT said, “Signing MoUs with IDBI Capital & Merger Domo is a commendable step towards further galvanizing STPI’s startup ecosystem to nurture startups. giving them access to industry, industry associations and funding. partners to develop their businesses.

Speaking on the occasion, Shri Vikram Jain, Senior Director of ICMS, underlined: “As part of this collaboration, ICMS can, as much as possible, support the STPI Centers of Excellence initiative. with regards to supporting and coaching selected startups by providing venture capital funding and also through mentoring and knowledge sharing in the finance and fundraising space.

Shri Hormazd Charna, Founder and CEO of MergerDomo, said, “The collaboration will strengthen STPI’s startup ecosystem, including fundraising, market access, showcasing startups to its investor community on its technology platform, etc.”

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