What To Expect From MeitY's Incubator Electropreneur Park
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Under the aegis of ministry of electronics and information technology, Electropreneur Park is ready for its sixth edition of incubation programme where 10 budding entrepreneurs in the electronic ecosystem will participate in its pre-incubation, incubation and visual acceleration programmes.
According to an official statement, the programme will run for a period of one-and-a-half year wherein start-ups will be given INR 50,000 grant in pre-incubation phase to INR 10 lakh grant for physical incubation programme along with investors’ pitch.
“Developing high-quality electronic products at affordable prices will not only help in inclusive adoption and deployment but will also further help in improving productivity, efficiency and ease of operations in other sectors. We are thus approaching towards a holistic growth and development for the Indian economy,” said Sanjeev Chopra, CEO, Entrepreneur Park.
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What To Expect?
Electropreneur Park is now inviting proposals from electronic hardware start-ups. According to the statement, startups selected for the incubator will receive mentoring by industry stalwarts from pool of 30 leaders from companies such as Murata, NXP, Global Foundaries, Cadence, Rambus, NIIT and highly successful entrepreneurs. Access to design support from various supporting organizations such as Infineon, STMicroelecronics, Texas Instruments, Microchip, Intel, NXP, Arrow and Avnet, among others.
Apart from this, Electropreneur Park will also provide a robust technology focused sustainable infrastructure, allowing for advanced research and development, innovation and designing. The startups will receive funding assistance through government support, industry connect and through member base of IESA, STPI and University of Delhi.
At a time when the electronic market in India is expected to reach $400 billion by 2025, Electropreneur Park claims to led to the inception of 33 startups, 20 new products and around 20 patents in the last three years. It also claimed that about 70% of the graduated startups are in the revenue phase.
How Electropreneur Park Works
For the uninitiated, Electropreneur Park is an incubation center funded by MeitY and managed by Software Technology Parks of India. It encourages startups to ideate and innovate in the field of electronics.
According to the incubator, it had made an investment over INR 2 crore in setting up the incubation lab for helping the startups. The lab is equipped with the latest technology with access to free office space, legal and IP support. Under this incubator, the startups will also be part of various national and international industry events which will help them network with industry leaders and potential customers which will help them build a strong network and wider visibility.