Electropreneur Park to incubate electronics startups
To encourage innovation in domestic electronics startups, Electropreneur Park (EP) will organize a roadshow tomorrow in Delhi to reach out to the early stage and aspiring entrepreneurs across the country.
EP is an incubation center, which support and nurture the best electronics startups.
As a part of its initiative, EP will incubate 50 startups over a period of five years.
Applications are being sought for 2016-17 from early stage entrepreneurs in electronic system design and manufacturing (ESDM) sector across the country.
“EP will select the best 10 early stage entrepreneurs in ESDM across the country, based on the merit of the project submission and will support them in research and development to accelerate electronics innovation in the country,” EP said in a statement.
EP is a Software Technology Parks of India (STPI) project, funded by Department of Electronics and IT (DeitY) and promoted by University of Delhi (DU) as academic partner, India Electronics and Semiconductor Association (IESA) as implementation partner and CyberMedia India Limited as execution partner.
The initiative will support 50 startups in ESDM space and is expecting to create 5 global companies over a period of five years.
The park will focus on IP creation and product development to result in increased domestic value addition and will witness a unique integration of academia, industry, government and other incubation ecosystem elements.
EP will provide the selected entrepreneurs with state-of- art laboratories, ESDM mentorship by industry veterans and academicians, efficient supply chain and an ecosystem that will bring in a bouquet of other shared services and facilities to the incubatees.
EP will also facilitate seed funding for the promising ventures and ensure a smooth transition from an incubatee to a self-sufficient electronics startup.
By 2020, the demand for electronics hardware in India is projected to increase to $400 billion, driven by the growing convergence of information, communication, and entertainment.