From GENESIS to STPI: Unlocking Growth for Indian Startups

India’s startup ecosystem is rapidly evolving, thanks to structured support from the government. Under the Ministry of Electronics and Information Technology (MeitY), several forward-thinking schemes aim to help entrepreneurs innovate, expand, and thrive—especially in emerging sectors and non-metro regions.

1. STP & EHTP Schemes

Sectors: Software, Electronics, IT services

Designed to support export-oriented startups, the Software Technology Parks (STP) and Electronic Hardware Technology Parks (EHTP) schemes offer regulatory and fiscal advantages to tech-driven ventures.

Key Benefits:

1. Import duty exemption for raw materials and equipment

2. Streamlined customs processes

3. Re-export provisions

4. 100% foreign investment repatriation

5. Use of refurbished equipment allowed

2. Centres of Excellence (CoEs)

Areas Covered: Deep Tech, AI/ML, FinTech, MedTech, IoT

These 26 CoEs, run by STPI and partners, serve as innovation hubs where startups can access top-tier infrastructure, expert mentorship, and early-stage funding opportunities.

Support Provided:

1. Lab access and product development facilities

2. Technical guidance and industry mentorship

3. Training programs and investor connections

3. GENESIS (Gen-Next Support for Innovative Startups)

Focus: Tier-II and Tier-III Entrepreneurs

Aimed at promoting inclusive innovation, GENESIS supports founders from smaller cities through funding and incubation partnerships.

Eligibility Criteria:

1. Based in Tier-II or Tier-III cities

2. Linked to academic or R&D institutions

3. Clear innovation or social impact potential

Funding Pool: ₹490 crore (for 2022–2027)

4. Duty-Free Import Scheme

Purpose: Support cost-effective export manufacturing

Startups engaged in exports can import necessary raw materials duty-free under this program, helping reduce production costs.

Highlights:

1. Duty-free imports for eligible goods

2. Replenishment-based input schemes

3. Tax remission opportunities linked to exports

5. STPI Startup Program

For: Software exports, digital services, gaming, and IT-enabled products

Backed by STPI, this program is tailored for startups generating foreign exchange and scaling globally.

Requirements:

1. Registered Indian firm or LLP

2. At least 50% revenue from exports

3. Positive net foreign exchange earnings

Incentives:

1. Full foreign ownership allowed

2. Tax incentives and profit repatriation

3. Streamlined import/export procedures

Final Note

Whether you're building from a Tier-III city or exporting tech products globally, India’s government-backed startup schemes offer practical tools to accelerate your vision. These initiatives are not just funding platforms—they are ecosystems for innovation, mentorship, and scale.