STPI’s rental waiver helps startups bear lockdown blues

A string of tweets, thanking Union Minister for Electronics and IT (Information Technology) Ravi Shankar Prasad and Software Technology Parks of India (STPI) for their kind gesture, has stirred up the Twitterati’s curiosity.

“This kind gesture will be of great help for the company,” declares one such tweet posted by city-based Eaksha Technologies Private Limited Director Ravishankar.

Eaksha Technologies and six other units utilising the incubation facility of STPI Mangaluru, which also includes STPI, Manipal, have been exempted from paying rent for four months from March up to June.

“The rental waiver is a blessing in disguise to startups providing home-made solutions and products,” informs STPI Director-General Dr Omkar Rai.

The rental waiver benefits not just startups using the incubation facilities of STPI Bengaluru, STPI Mysuru, STPI Mangaluru and STPI Hubballi, but also 200 units under 60 STPI spread across the country, said Dr Omkar Rai.

“The rental waiver benefit, estimated to be around Rs 5 crore, is nothing new to STPI as it is committed in its efforts to provide a strong eco-system for startups in the country,” informs Dr Rai.

"Due to the lockdown, we could not utilise incubation facilities in Mangaluru, said Robert, one among the partners of Yashmaya Infotech.

“We had to establish internet connection at our homes and ensure uninterrupted services to clients in foreign countries,” said Robert from Yashmaya involved in providing backup support for overseas projects.

“We appreciate Union Minister Ravi Shankar Prasad and STPI for understanding the gravity of the situation and announcing the four-month rental waiver, without waiting for us to ask for it,” said Robert.

Other centres offering incubation facility to startups in Mangaluru are yet to take a cue from STPI. CEOL (Centre for Entrepreneurship Opportunities and Learning) and Suratkal based NITK-STEP (Science and Technology Entrepreneurs Park) are yet to take a decision on declaring rental waiver.