MoS Rajeev Chandrashekhar said that the government will invest $200 million in startups under the PLI scheme.
The Indian government will extend the PLI scheme for IT hardware to startups that design products, IP, tools or devices for the next generation of applications in India, said Minister of Electronics and Information Technology (MeitY) Rajeev Chandrasekhar at the inaugural session of the twenty-second VLSI Design Conference 2023 in Hyderabad.
The five-day event, flagged off on January 8, is themed “Semiconductors Driving Disruptive Innovations in Global Digitalisation.” It aims to bring together key stakeholders including engineers, students and faculty, industry professionals, academia, researchers, bureaucrats, and government organisations.
Virtually addressing the attendees at the inaugural session, the minister said “The Ministry of Electronics and Information Technology has a program called the “Future Design Program” which is investing $200 million in startups that design products, IP, tools or devices for the next generation of applications in India. To support this innovation ecosystem, the government is extending the PLI scheme for IT servers and IT hardware.”
He added that the IT PLI will also offer additional incentives for manufacturers that incorporate Indian-designed IP into their products.
The minister explained the government’s focus on Digital India RISC-V (DIR-V) program for next-generation microprocessors. “We are putting government capital to work actively, catalyzing the Indian semiconductor ecosystem and working with industry and the global diaspora to achieve India’s ambition as a semiconductor nation at a torrid pace,” he said.
Following the inaugural, the industry leaders at the event, participated in keynote speeches and panel discussions, providing valuable insights and perspectives on the latest advancements, challenges, and trends in the field of VLSI and embedded technology.
The exhibition at the conference features notable VLSI companies and innovative technology startups, highlighting the current capabilities in the sector and exciting opportunities for innovation.
The event will conclude on January 12 with the ‘Startups Investor Connect,’ where emerging startups in the VLSI and the embedded sector will get an opportunity to pitch their ideas to investors.
Startups such as Anew Design Automation, Lightspeed Photonics, Vasbeam, Cyrrup and Advanced System In Package Technologies will be pitching their ideas to leading investors for potential investments. An award ceremony will be held to recognize the best startup at the conference.