IESA will partner government to fuel startup ecosystem
20th February 2019
Top : Opening panel discussion at the IESA Vision Summit 2019. Bottom, a view of the exhibition ( Photos: IndiaTechOnline)
Bangalore February 20, 2019: India Electronics and Semiconductor Association (IESA), has signed as MOU with the Union Ministry of Information Technology ( MeitY) to focus on strengthening the start-up ecosystem. As a part of this engagement, IESA will be the industry partner for the Ministry’s start up focused activities.
This was announced on the opening day of IESA's Vision Summit yesterday.
Also announced: Software Technology Parks of India (STPI) will be unveiling over twenty software and hardware focused Centres of Excellence (CoE) across India. The aim of these CoEs will be to spur exchange of ideas, promote knowledge sharing, and support entrepreneurs with market access, technology and mentorship. IESA exchanged a Letter of Intent with STPI to be the industry partner for the hardware focused CoEs across India. As part of this engagement, a digital online platform – E-Playground - will be introduced to connect all stakeholders of the start-up ecosystem. A report on the Electronics System Design and Manufacturing industry was released. The report prepared by Frost and Sullivan finds that the Indian ESDM industry is expected to grow at a CAGR of 21.6% by 2025. This is four times the global growth rate. The Electronic Product Market has the potential to expand to USD 497 billion by 2025. Smart Phones, Defence and Engine Control Units are the demand creator. Some 30 products across all segments of electronics constitutes over 79% of the revenue. The demand for domestic wafer has the potential to reach 17.3 million in volume by FY’25. The top 30 products would contribute to 71% of the total wafer requirement in FY’25.