20 November 2019
With an aim to promote ingenious manufacturing in Electronics System Development and Maintenance, Electropreneur Park is all set to nurture another 10 budding entrepreneurs in the electronic eco-system of India in its upcoming sixth edition. Electropreneur Park is inviting proposals from electronic hardware start-ups for its pre-incubation, incubation and visual acceleration programs. The program will run for a period of one and a half year wherein the start-ups will be given INR 50K grant in pre-incubation phase to INR 1.2 lakh grant for physical incubation program along with investors pitch.
The startups incubated at Electropreneur Park, will be offered strategic mentoring by industry stalwarts from pool of 30 leaders from companies like Murata, NXP, Global Foundaries, Cadence, Rambus, NIIT and highly successful entrepreneurs. Access to design support from various supporting organizations like Infineon, STMicroelecronics, Texas Instruments, Microchip, Intel, NXP, Arrow, Avnet etc. Like every other year, Electropreneur Park will provide a robust technology focused sustainable infrastructure, allowing for advanced R&D, innovation and designing. The start-ups will receive funding assistance through government support, industry connect and through member base of IESA, STPI and University of Delhi.
Electropreneur Park made an investment over INR 2 crore in setting up the incubation lab for helping the start-ups. While entrepreneurs and start-up enthusiasts in India burst with new ideas, most of them face a major setbacks in setting a proper infrastructure and office space. This state of the art lab is equipped with the latest technology so that the start-ups do not have to worry about building infrastructure; with access to free office space, legal & IP support. Electropreneur Park aims to help the start-ups save on their capex, so that their funds can be utilized in other important segments of their businesses. The start-ups will also be part of various national and international industry events which will help them network with industry leaders and potential customers which will help them build a strong network and wider visibility.
Speaking on the launch of the sixth edition, Shri Sanjeev Chopra, CEO, Entrepreneur Park said, “The electronics industry is one of the fastest growing in the country. Growing at fast paced rate, the industry indicates that it is one of the major contributors to the Indian economy. By focusing on incubating and nurturing start-ups in the electronic eco-system, we envision to open avenues for job opportunities in the country, push for production, demand and consumption of electronic products in the domestic market which will further help in the economic development.”
“Developing high-quality electronic products at affordable prices will not only help in inclusive adoption and deployment but will also further help in improving productivity, efficiency and ease of operations in other sectors. We are thus approaching towards a holistic growth and development for the Indian economy,” he further added.
Electropreneur Park has been successfully contributing to the ESDM growth story of India and has led to the inception of 33 start-ups, 20 new products, around 20 patents in the last three years of operation. With over 70% of graduated startups in revenue phase the success stories so far led to a total revenue generation by startups of over INR 25 crore and a valuation of INR 120 Crores; . Electropreneur Park provides a unique opportunity to companies in the ESDM sector to view India as their next destination in order to cater to import as well as export demands.
The electronic market in India is anticipated to reach $ 400 bn by 2025.The demand is fueled by a variety of drivers which includes a high growth rate of the economy and emergence of a vast domestic market catering to the gen-next. This provides a huge opportunity for India to become an Electronics System Design and Manufacturing (ESDM) hub to meet its domestic requirements as well as the global requirements.
About Electrpreneur: Park Electropreneur Park is an Incubation center funded by the Ministry of Electronics and Information technology (MeitY), managed by Software Technology Parks of India (STPI), with the University of Delhi as the academic partner and India Electronics and Semiconductor Association (IESA) as the implementation partner. Electropreneur Park encourages start-ups to ideate and innovate in the field of electronics. Electropreneur Park follows a well-defined process for selecting and nurturing the start-ups.