India Electronics and Semiconductor Association (IESA), the lobby body representing the Indian Electronic System Design and Manufacturing (ESDM) industry, said that it has been relentlessly working towards creating a strong startup ecosystem in the ESDM sector, and aims to create more institutions like Electropreneur Park, in every region of India.
Initiatives like Electropreneur Park, which aims to create 50 ESDM startups and at least 5 global companies over 5 years with a focus on IP creation and Product Development, are the proof-points of government’s noble intention, the body said. IESA, being an industry association, said that it has witnessed a huge turnaround in the electronics manufacturing landscape with “Make in India” campaign.
The association believes ‘Startup India’ will soon replicate a similar success. It has also supported startups like Sensegiz, Cardiac Design Labs, Xenon and many more in securing funding. The body has also applauded the pro-startup initiatives undertaken by the Indian government.
“We are in the era of redefining India’s future economy. With focused campaigns, we are gradually moving towards developed economy by creating manufacturing opportunities, bridging India’s digital divide, and now, promoting the entrepreneurial spirits with ‘Startup India’,” MN Vidyashankar, President, IESA, said in a statement.
The lobby body said that it has been closely working with the government in many such initiatives to create a startup ecosystem for the electronics manufacturing. Vidyashankar said that India is among the priority nations for any commercial transaction and thereby indicating the country’s steady economic importance in the global landscape. “Our entrepreneurs are bound to be benefitted from the nation’s economic upliftment and soon we will witness an entrepreneur in every home,” he added.