Government-funded Electropreneur Park, an incubation centre with focus on IP creation and product development to increase domestic manufacturing of electronics items, is scheduled for launch this week. The Electropreneur Park with funding support from Ministry of Electronics and Information Technology (MeitY) has been set up in South Campus, Delhi University.

It will be inaugurated by Minister for Electronics and Information Technology, Ravi Shankar Prasad on August 27, sources said. “The Electropreneur Park, will focus on IP creation and indigenous product development to increase value addition to domestic manufacturing of electronic items, like smartphones, smart meters, micro ATMs and set top boxes,” sources said.

The project is being implemented by Software Technology Parks of India, in association with India Electronics & Semiconductor Association and Delhi University. The Electropreneur Park has been set up in area of over 10,000 sq ft constructed space. The project involves grant-in-aid of Rs 21.17 crore.

Ten most promising ideas/startups in the Electronic System Design & Manufacturing space every will be selected, and incubated every year. Based on the merit of the project, Electropreneur park will support them in R&D to accelerate electronics innovation, sources added.

The initiative is in line with the government’s Make-in-India and Startup India missions aligned with entrepreneurial and innovation focus. The Park will also facilitate seed funding for ventures. The Centre will not only provide the infrastructure but enable access to domain experts, mentors, shared consultants and services.

“It will also help innovators seek funding from foreign investors, venture capitalists and angel investors. The aim is to provide overall training and development of incubatees to create ‘Electropreneurs’,” sources pointed out.

MeitY is providing the funding support required to set up and manage the centre over the initial five years, after which the project will be run by the implementing agencies in a self-sustaining mode.

Source: Money Control