The Growth Booster:
The Role of STPI in the growth of the IT industry has been tremendous, especially in the case of startups SMEs.
STP scheme the catalyst
The STP scheme is a 100% export-oriented scheme for the development and export of computer software, including export of professional services using communication links or physical media. This scheme is unique in its nature as it focuses on one product/sector, i.e. computer software. The scheme integrates the government concept of 100% Export Oriented Units (EOUs) and Export Processing Zones (EPZs) and the concept of Science Parks/Technology Parks, as operating elsewhere in the world.
With STPI presence, systematic implementation of STP Scheme and the Govt. initiatives, in general, the offshore software exports from the country during 1991-92, which was mere 20-35%, grown to more than 90% contributing to 95% of national software companies from STPI member companies.
In fact, countries like Mauritius, Sri Lanka, Nepal, Algeria, Indonesia, etc. are taking the help of STPI to set up similar technology parks with the same concept.