‘Electropreneur Park’ aims to build 5 global companies in next 5 years

The Ministry of Electronics and Information Technology (MeitY), has set up an incubation centre ‘Electropreneur Park’ at University of Delhi, South Campus that plans to incubate 50 early stage startups and create at least 5 global companies over a period of five years.

The Electropreneur Park will provide laboratories as per international standard, mentorship by industry veterans and academicians, efficient supply chain and assistance in the fields like taxation, legal, finance, accounting, patent search, training, business counseling, etc.

It will develop, promote, recruit, incubate, mentor, and create breakthrough innovations in the ESDM (Electronics System Design and Manufacturing) sector. It will focus on IP creation and product development to result in increased domestic value addition. The platform will also encourage R&D, innovation, entrepreneurship in the ESDM sector in India and provide assistance during prototyping, development, and commercialization of the products conceptualized at Electropreneur Park.

The centre that has been set up in association with Software Technology Parks of India (STPI), Delhi University (DU), and Indian Electronics and Semiconductor Association (IESA) was inaugurated on Saturday by Union Minister of Law & Justice and Electronics & Information Technology, Ravi Shankar Prasad.

Prasad revealed that 11 crore mobile phones were manufactured in India in last one year up from six crores in the previous year. The minister also added that 37 mobile manufacturing companies were set up in the last one year, which has generated 40,000 new jobs and 1.25 lakh indirect employment.

“We decided to make India a big hub of electronics manufacturing. In the last one year, 37 new mobile manufacturing units have come,” Prasad said after inaugurating government-funded ‘Electropreneur Park’. “We have given jobs to forty-thousand people and 1.25 lakh indirect jobs,” Prasad added.

Chinese companies like Gionee and Xiaomi are making their handsets at Foxconn plant in Andhra Pradesh. Domestic companies such as Karbonn, Lava, Micromax, Intex, Jivi, iTel, and MTech too have set up their manufacturing plants in the country. As per industry sources, Chinese company LeEco will start mobile manufacturing unit on Tuesday.