You are here: Home » Economy & Policy » News
Business Standard

Incubation centre for electronics start-ups gets nod

Termed as the Electropreneur Park, the project will be anchored by Software Technology Parks of India

Surabhi Agarwal  |  New Delhi 

To boost domestic manufacturing of electronics and encourage entrepreneurship, the department of electronics and information technology (IT) has approved an incubation centre for product companies in the sector.

Termed the Electropreneur Park, it will be anchored by Software Technology Parks of India (STPI), which played a role in incentivising and nurturing the IT services sector in its initial years. The centre will be either set up in Delhi University’s south campus or in STPI’s Gurgaon office.

Business Standard had reported last week that such a centre was likely to be approved.

An official in the know said it would take at least four months for the centre to come up. “We are preparing the framework for it in consultation with our stakeholders,” said the official. The project is being set up by STPI along with Delhi University (DU) and India Electronics and Semiconductor Association IESA). There will be a governing body which will have representation from IESA, DU and STPI.

This body will further deliberate on setting up a selection committee, which will identify the entrepreneurs who need to be supported and the mentors. “It will be a much-acclaimed committee comprising the who's who of the IT industry, since they will be doing the crucial job of selecting the entrepreneurs. We will make sure the doyens of industry are on board,” added the official quoted above. The strength of the board and who will be on it is yet to be decided.

With a target of nurturing 10 companies every year over the next five years, the incubation centre is aimed at providing budding entrepreneurs with tools and technologies that are generally very expensive. The centre will provide the infrastructure and enable access to domain experts, mentors, shared consultants and services. It will also help innovators seek funding from foreign investors, venture capitalists and angel investors.

Under its National Electronics Policy, the government has launched various schemes to push domestic manufacturing. According to estimates, India would require $400 billion worth of electronics annually by 2020, most of which would be imported if domestic manufacturing is not incentivised. In which case, the country’s electronics import bill will exceed that of oil.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, June 17 2014. 00:24 IST