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Centre sets up incubation centre, 50 early-stage startups planned in 5 years

Six early-stage start-ups are already under incubation at the Electropreneur Park, which were selected from nearly 200 proposals received, an official statement said.

By: ENS Economic Bureau | New Delhi |
August 28, 2016 2:52:55 am

Calling for higher electronic manufacturing in the country, Minister of Electronics and Information Technology Ravi Shankar Prasad on Saturday inaugurated an Electropreneur Park at south campus of the Delhi University, which would incubate 50 early-stage start-ups and create at least five global companies in the electronic systems design and manufacturing sector, over a period of five years.

Six early-stage start-ups are already under incubation at the Electropreneur Park, which were selected from nearly 200 proposals received, an official statement said.

This incubation centre has been set up on a public-private partnership mode through a consortium of the government, academia and industry represented by Software Technology Parks of India, Delhi University and Indian Electronics and Semiconductor Association.

The Electropreneur Park will provide the selected entrepreneurs with laboratories, mentorship by industry veterans and academicians, help them with efficient supply chain management and an eco-system that will bring in a bouquet of shared services and facilities to the incubatees such as taxation, legal, finance, accounting, patent search, training, business counselling, etc.

The park will also provide access to funding agencies to facilitate seed funding for these ventures and ensure a smooth transition from an early stage start-up to a self-sufficient electronics company. The platform will aim to encourage research and development, innovation, and entrepreneurship in the electronic systems design and manufacturing sector by providing assistance during prototyping, development, and commercialisation of the products that were conceptualised at the Electropreneur Park.

Prasad said that while thrust was being provided by the government to create conducive environment for promoting electronics manufacturing in the country resulting into higher investments in the sector, there was a need and opportunity for fostering innovation, creation of intellectual property and development of new electronics products in the country.

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