Indraprastha Institute of Information Technology Delhi (IIIT-Delhi) signed an MoU with Software Technology Parks of India (STPI), AIC STPINEXT INITIATIVES (STPI NEXT), Technology Innovation Hub at Indraprastha Institute of Information Technology, Delhi (IHub Anubhuti), and India Electronics and Semiconductor Association (IESA), to establish an Electropreneur Park (EP) at the IIIT-Delhi campus which will create an ecosystem for nurturing the entrepreneurs & startups through mutual cooperation and collaboration in the area of Electronics System Design and Manufacturing (ESDM) and allied fields.
The Electropreneur Park will primarily aspire to contribute to the ESDM growth story of India with the objective of creating a pre-incubation, incubation and acceleration service for Startups and MSMEs. The EP will also create a network of Spoke Centres to nurture students & budding entrepreneurs from selected Institutes & Incubation centres to promote ESDM Innovation by providing opportunities to convert Idea to a validated proof of concept, IP generation leading to product creation, empaneled group of investors, focused short term problem / programme based engagements with corporate and ecosystem partners, among others.
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 will establish a strong connection of the startups with the larger habitation at an early stage which helps the startup to refine and fine-tune its concept, product, go-to-market, and other vital aspects that shape up the proposition.
Speaking at the occasion, Prof. Ranjan Bose, Director IIIT-Delhi said “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 USD 220 billion by 2025.
This MoU is a starting point for a strategic partnership among IIIT-D, IHub Anubhuti, Software Technology Parks of India (STPI), India Electronics and Semiconductor Association (IESA) and STPI NEXT. It leverages the triple helix of academia, industry and the government in a manner so as to produce a multiplier effect.
The Electropreneur Park will promote innovation leading 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. iHuB Anubhuti, with its emphasis on Cognitive Computing and Social Sensing will leverage the ESDM ecosystem for translational work.
Electropreneur Park will support activities related to pre-incubation, regular incubation programs, and acceleration programs in order to nurture startups and encourage entrepreneurs. This is also in line with the ‘Make in India’ initiative”.
The MoU was signed in the presence of Shri Arvind Kumar, DG STPI; Sh. Devesh Tyagi, Senior Director STPI; Sh. Rajneesh Agrawal, Director STPI Noida; Sh. Ajai Chowdhry, Founder HCL; Sh. Atul K Singh, Joint Director STPI; Col Anurag Awasthi, Vice President (Public Policy, Government and Corporate Relations) of India Electronics and Semiconductor Association; Sh. Pradeep Gupta, Chairman Cyber Media Group; Dr. Vivek A Bohara, HoD, Department of Electronics & Communications Engineering, IIIT-Delhi; Prof. Pushpendra Singh, Dean of Academic Affairs, IIIT-Delhi
Electropreneur Park (EP) is a project approved by the Ministry of Electronics and Information Technology (MeitY) on 17th June 2014 and it was launched in August 2016 at the University of Delhi, South Campus, New Delhi. Over the last few years Electropreneur Park (EP) has been actively contributing to building a fundamentally strong ESDM in India. Electropreneur Park achieved its set milestone of 5 years in August 2021 with incubation of 51 startups, creation of 43 products, and 76 prototypes. A cumulative revenue by Incubated startups of Rs. 103 Crore and valuation of more than Rs. 450 Crore has been created by Electropreneur Park over the past few years of its operations.
With a vision of creating unicorns in the ESDM sector, it is now proposed to launch “Greater EP innovations hub” Electropreneur Park (“EP 2.0”) to scale up its existing operations to provide a holistic ecosystem – infrastructure, network, mentors and investments, to the StartUps and MSMEs by accelerating the Government of India‟s endeavor of achieving Atmanirbharatha through robust Make in India, propelled by an equally thriving StartUp India.