- With 11 patents in the pipeline, EP’s incubation ecosystem has catalysed innovation, incubating 59 companies, creating 125 products, and filing 66 patents.
- Aligns with India’s “Make in India” vision and Univlabs Technologies’ ₹20 crore valuation, and a monumental 36X return on EP’s investment marks a historic exit.
Electropreneur Park (EP), an initiative of the Ministry of Electronics and IT, has significantly contributed to the Indian Electronics System Design and Manufacturing (ESDM) market with the successful exit of Univlabs Technologies, a leading Indian health-tech startup. Univlabs Technologies, under the guidance of the company, has undergone an impressive growth journey, expanding its footprint to six countries and providing innovative solutions to over 2000 hospitals in India and abroad. During this journey, Univlabs Technologies applied for a remarkable 11 patents, with two already granted.
The company, managed by the Software Technology Parks of India and implemented by the India Electronics and Semiconductor Association (IESA), has been instrumental in incubating and nurturing ESDM entrepreneurs. Since its inception, EP has incubated 59 companies, resulting in the development of 125 products and 66 patent applications. Furthermore, it has created employment opportunities for 885 professionals and facilitated follow-on funding of Rs 21.79 crore for its startups. The company embarked on its growth mission to revolutionise healthcare by providing affordable, cutting-edge medical devices that enhance patient outcomes. Its remarkable success serves as a beacon of hope for electronic innovation in India and aligns with the “Make in India” vision of the Indian government.
It has achieved a valuation of ₹20 crore and initiated an investor buyback from EP incubator stakeholders worth Rs ₹94.64 lakhs, marking a staggering 36X growth in EP’s investment. This exit underscores EP’s role in fostering innovation and entrepreneurship over its seven years of operation. The formal exit announcement occurred during the inauguration of the Apiary CoE incubation facility, signalling the beginning of a new chapter in supporting budding entrepreneurs and startups by the Software Technology Parks of India.
The launch event of the Apiary CoE incubation facility was graced by the presence of Shri S. Krishnan, IAS, Secretary, Ministry of Electronics and IT, and other dignitaries from the IT industry. Shri S. Krishnan commended Sunil Singh, the founder of Univlabs Technologies, for his remarkable journey, highlighting his confidence, vision, and perseverance over the past eight years.
Shri Arvind Kumar, Director General, STPI, lauded Electropreneur Park’s success in nurturing innovation and entrepreneurship. He emphasized EP’s alignment with India’s commitment to reaching US$300 billion worth of electronics manufacturing and US$120 billion in exports by 2025-26, marking a promising development for the ESDM market. The event also saw the presence of Shri. Sanjay Gupta, Chairman, IESA, Shri. Pradeep Gupta, CMD, CyberMedia Group, and Chief Mentor of EP, and Sunil Singh, Founder & CEO, Univlabs Technologies, all celebrating this momentous achievement in the Indian ESDM sector.