Indraprastha Institute of Information Technology (IIIT) Delhi has signed a memorandum of understanding (MoU) with Software Technology Parks of India (STPI), AIC STPINEXT INITIATIVES (STPI NEXT), Technology Innovation Hub at IIIT-Delhi (IHub Anubhuti), and India Electronics and Semiconductor Association (IESA), to establish an Electropreneur Park (EP) at the IIIT-Delhi campus with the aim to create an ecosystem that will nurture the entrepreneurs and startups through mutual cooperation and collaboration in the area of electronics system design and manufacturing (ESDM) and allied fields.
According to the official statement, the Electropreneur Park in line with ‘Make in India’ initiative’ primarily aspires to contribute to the ESDM growth story of India with the objective to create a pre-incubation, incubation and acceleration service for startups and MSMEs. The EP will further create a network of Spoke Centres to nurture students and budding entrepreneurs from selected institutes and incubation centres to promote ESDM innovation, the statement added.
Further, the statement said that besides providing necessary laboratory equipment and ESDM tools to work on minimum viable product (MVP), EP will also connect and integrate the incubated startups with the key stakeholders including government, funding ecosystem, business leaders, media, and technology ecosystem. This integration aims to establish a connection between the startups and the larger habitation at an early stage to help the startup to refine and fine-tune its concept, product, go-to-market, and other vital aspects that shape up the proposition.
“Electronics is the new oil in the digital age. It is predicted that, fueled by investments and strong policy, the ESDM sector in India will cross $220 billion by 2025,” professor Ranjan Bose, director, IIIT-Delhi, said.
Further, the statement mentioned that the Electropreneur Park will promote innovation which will lead to the creation of startups in the space of electronic design and manufacturing. The idea is to evolve a holistic ecosystem where the faculty members and students of IIIT-D can actively engage with ‘electronics’ startups, the statement noted. iHuB Anubhuti, with its emphasis on Cognitive Computing and Social Sensing will leverage the ESDM ecosystem for translational work, the statement added.