By Bizodisha Bureau, Bhubaneswar, November 3, 2018: The Software Technology Parks of India (STPI), has signed a memorandum of understanding (MoU) with US-based Fab Foundation for setting up a Fab (fabrication) Lab here.

A Fab lab is a technical prototyping platform for innovation and learning aimed at providing stimulus for promoting local entrepreneurship. The lab provides tools for entrepreneurs, in both developed and developing nations, to prototype their ideas at reduced cost.

The Fab Lab in Bhubaneswar will be hosted at STPI’s newly inaugurated facility ‘STPI Elite’. The innovative lab will see an investment in excess of Rs 6 crore to be shared by the Odisha government and STPI equally. The funds have been already for sanctioned for the projects.

Sprawling across three acres of land, the state-of-the-art building of STPI will house next generation incubation facility, fabrication lab in ESDM Incubation & data centre to cater the need of the IT (information technology) ITes (enabled services) and ESDM (electronics system design & manufacturing) industries.

STPI has a significant presence in Odisha. It has eight centres in the state, the highest among all states. While four centres are already operational, the balance is yet to come up. STPI has four operational centres in Bhubaneswar, Rourkela, Berhampur and Balasore. The balance four new STPI centres will come up at Angul, Jajpur, Koraput (Jeypore) and Sambalpur.