Wednesday, June 18, 2014: The department of electronics and information technology has given a go ahead to the setting up of an incubation centre to provide physical as well as technology infrastructure to electronics start-ups from across the country. After incentivising and nurturing the IT services industry during its initial years, the Software Technology Parks of India (STPI) is looking to do the same for product companies specifically in the electronics sector with the now approved ‘Electropreneur Park’ to be set up in the national capital. The same will boost domestic manufacturing of electronics and encourage entrepreneurship across India.
Under the ambitious project, the government plans to set up an incubation centre for electronics start-ups in Delhi. This centre aims to incentivise 10 such companies every year over the next five years. These companies will be short-listed by a board comprising of stakeholders from the government as well as the industry and academia. The proposal has been sought by STPI in association with the Delhi University and India Electronics and Semiconductor Association (IESA). The centre will be either set up in Delhi University’s south campus or in STPI’s Gurgaon office.
Once up and running, the incubation centre will give electronics start-ups unrestricted access to experts within their domain as well as mentors, shared consultants and services. Further, these start-ups will also be able to seek investment from foreign investors, venture capitalists among others to boost their growth and potential.
