 "Govt establishes Electropreneur Park to bolster electronics manufacturing")
Ministry of Electronics and Information Technology (MeitY) has set up an Electropreneur Park at University of Delhi to incubate 50 early stage start-ups and create at least 5 global companies over a period of 5 years. The park will be managed by Software Technology Parks of India (STPI) and implemented by India Electronics and Semiconductor Association (IESA).
Ravi Shankar Prasad, Union Minister of Law and Justice, Electronics & Information Technology, said, “Having lost at the time of indusrtial revolution, India cannot afford to miss the bus once again. It has to take lead in the ongoing digital revolution and this alone has the potential to transform India into a vibrant economy. The NDA Government under the leadership of Prime Minister Narendra Modi, has already sown seed for this and introduced programmes like Make in India, Skill India and Stand Up India with the purpose of making all sections of the society equal partners in this game changing initiatives.”
He said academia clubbed with investors and incubates together can expedite the process of transforming India. The government has already set up fund to incentivise such initiatives and would continue to focus on making India a hub centre of incubation, he added.
Funded by MeitY, Government of India, the Electropreneur Park is an incubation centre under PPP mode in the electronic systems design & manufacturing (ESDM) sector. The park will develop, promote, recruit, incubate, mentor, and create breakthrough innovations in the ESDM sector.
The park will focus on IP creation and product development to result in increased domestic value addition and will witness a unique integration of academia, industry, government and other incubation eco-system elements. The platform will also encourage R&D, innovation, Entrepreneurship in the ESDM sector in India and provide assistance during prototyping, development and commercialisation for the products, conceptualised at Electropreneur Park, produced through the scheme for India and other growth markets.
The incubation centre has already incubated 6 early stage start-ups, with a few more in the process to come on-board. These six start-ups are Arogya Medtech (maker of portable and low-cost neuro-imaging and near-infrared spectroscopy for stroke detection), Ceantra Technologies (provider of connected vehicle platform that enables monitoring of vehicle health, better road safety and data driven online driver marketplace), Intutive Scientific Research & Evaluations (supplier of multi-featured women safety Internet of Things wearable devices), Resonant Electronics (maker of smart modular switch boards, smart monitoring control panel boards and analytics for energy management and control system), Starbru Techsystems (developer of tactical Android wireless data card that can be interfaced with Indian Army radio for sending images) and Stemrobo Technologies (creator of multiple electronic development and learning kits to be used in schools and institutes for skill development in ESDM sector).