All you wanted to know about the Electropreneur Park

The demand for electronics hardware in the country is projected to increase from 45 billion in 2009 to 400 billion by 2020. The growing convergence of information, communication, and entertainment has given a new impetus to demand for electronics hardware. The industry is estimated to create over 27.8 million new jobs and drive $15 billion investment to this sector over the next decade.

In keeping with this industry outlook, the Department of Electronics & IT (DeitY) has set up an incubator, named Electropreneur Park to support start-ups in electronics design and manufacturing.

Set up at the cost of Rs 21 crore, the incubator is set up by a consortium comprising Software Technology Parks of India (STPI), Delhi University and India Electronics and Semiconductor Association (IESA). It will focus on product development and IP creation for 6 mass consumption electronics products, and thereby encourage innovation in the domestic ESDM space.

What is this initiative?

The initiative will support 50 start-ups in ESDM space and is expecting to create 5 global companies over a period of 5 years. The park will focus on IP creation and product development to increase domestic value addition and will witness a unique integration of academia, industry, government and other incubation eco-system elements.

Under this entrepreneurship program, 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.

Cybermedia India, the Execution Partner recently concluded five city road shows in order to build awareness around the Hunt for Best Electronics Startups of Tomorrow-10 early stage entrepreneurs in the ESDM space. The outreach program witnessed immense excitement among the technology students, start-ups and even corporates with more than 300 participants.

The incubate club:

The incubates in the EP will form Techno Innovation Club for the students from University of Delhi and will conduct regular workshops in campus to inculcate the spirit of innovation and entrepreneurship. The members of the club will get the opportunity to work as interns for the incubate companies and get exposed to world class innovation and entrepreneurship environment

EP will also facilitate seed funding for the promising ventures and ensure a smooth transition from an incubate to a self-sufficient electronics start-up.

The opportunity will be available for every Indian student, early stage start-ups or even a corporate, which understands the electronics language and lives with a passion for the subject.

Submission of proposals:

Electroprenuer Park invites early stage start-ups and aspiring entrepreneurs in the ESDM space to submit their projects on http://electropreneurpark.com/register.php by June 20, 2015

Selection criteria:

A panel of industry experts comprising Ajai Chowdhry, Co-founder, HCL and Industry Visionary; Ajit Manocha, Former CEO, Global Foundries; Jaswinder Ahuja, Corporate VP & India Country Manager, Cadence Design; Swaminathan Madhavan, Director, Interconnect and Packaging Center an SRC Center of Excellence at Georgia Tech; John Pippin, Chair, Electromagnetics and Founder, Jacket Micro Devices; Rajneesh Agarwal, Director, STPI; Sanjeev Singh, University of Delhi; Ashok Chandak, ‎Senior Director, Global Sales and Marketing, NXP Semiconductors and Ex Chairman–IESA and Pradeep Gupta, CMD, CyberMedia India, will select the best 20 business plans.

Selected candidates will have to present their plans in front of the panel in Delhi.

The buzz:

Ajay Kumar, IAS, Joint Secretary, DeitY, said, “India is set to witness exponential growth and development in the ESDM sector. The initiative is the subset of the government’s ‘Make in India’ mission, aligned with its entrepreneurial and innovation focus. We are hopeful that Electropreneur Park will bring more excitement to the nation’s ESDM landscape and contribute significantly towards building global electronics companies from India in the time to come.”

Omkar Rai, Director General, STPI, said, “For past two decades, STPI has been playing pivotal role in the promotion of IT/ITES/ESDM Industry. Now, STPI is focusing towards the expansion of IT/ITES/ESDM Industry from Tier-1 cites to Tier-2 and -3 cites and from service to innovation led IT industry not only in the traditional hubs such as metro cities but in small cities/towns.”

“The Electropreneur Park is a major first step in the effort to fulfill India’s needs in the electronics manufacturing sector. The young and enterprising minds of our students shall be mentored by established leaders of this sector. We are aiming and hoping to create space for ideas that have a practical dimension and which shall serve the needs of the nation. An ecosystem of start-ups is being created in the ESDM space” said Dinesh Singh, Vice Chancellor, University of Delhi.

Ashok Chandak, Member , Project Management Group , Electropreneur Park and Ex-Chairman, IESA said, “We would like to commend the Union Government and the Prime Minister for his vision to transform India as an ESDM manufacturing nation having taken several decisions towards ‘Make in India’ program and promotion of entrepreneurship and innovation. The initiative will identify the 10 most promising ideas/ start-ups in the ESDM space every year and incubate them, with the required nurturing and help them to secure IP for their innovation, with major contributions towards design and component ecosystem, which will strengthen India’s pitch in the electronics manufacturing space.”

“Having been associated with the entrepreneurial ecosystem for two decades, I am witnessing a shift with many more entrepreneurs focusing on ESDM. We are confident that, at the Electropreneur Park, we will create at least 5 global companies through active mentoring thereby creating a revolution in indigenous manufacturing in the ESDM sector,” said, Pradeep Gupta, Member, Project Management Group, Electropreneur Park & CMD, Cybermedia India.

Source: Ciol.com