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The PSG-Science & Technology Entrepreneurial Park (PSG-STEP) was established in 1998 with support from Department of Science & Technology, Government of India, IDBI and ICICI to promote technology based enterprise in the areas of Software, Electronic Products, Hi-Tech Mechanical Products, Eco friendly Textile Products,  Bio-Technology and Nano Technology using the core strengths of PSG College of Technology.  PSG-STEP is one among an exclusive club of incubators with exclusive incubation facilities and funding mechanisms for startups in multiple technology domains with the support of NSTEDB, DST, BIRAC and MeitY, Government of India.