Electropreneur Park invites entries from electronic hardware startups, Those selected to receive funding assistance

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 years wherein the start-ups will be given Rs 50,000 grant in pre-incubation phase to Rs 10 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 a 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 connects and through member base of IESA, STPI, and University of Delhi.

Electropreneur Park made an investment over Rs 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 major setbacks in setting a proper infrastructure and office space. This 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 that will help them build a strong network and wider visibility.

Speaking on the launch of the sixth edition, 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."

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.