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For a nation that produces more engineers than the US and China combined, technology hardware innovations in India have been abysmally low. India’s preference is lopsided towards software and services. While the government has taken up several initiatives like Make in India and Startup India campaigns to encourage entrepreneurs to develop products here, one of the main challenges for the country’s hardware startup ecosystem is a lack of testing and development infrastructure.
When we talk about successful startups, it is always ecommerce ventures that steal the limelight. The imbalance is evident from the attention and publicity showered upon companies like Flipkart, Ola, or Snapdeal. Hardware startups, on the other hand, do not have it easy.
There are several accelerators in India such as RevX, Forge, IoT Bangalore, and Intel Maker Lab that encourage hardware innovations, but these hardly make it to the market. Firstly, because creating a prototype is a long-drawn process, and secondly, due to the lack of funding for hardware.
A series of road shows and events were conducted across eight cities in India, including Bangalore, Hyderabad, Cochin, Mumbai, Ahmedabad, Delhi, Kolkata and Coimbatore. The initiative received over 300 applications.Five out of the seven startups were declared as the winners of TechMarch 2016.
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