Electronics body IESA hopes to create business worth 1000 crore by promoting 100 start ups

Electronics and electronic chip maker body IESA expects to promote 100 startups to help them create 1,000 intellectual property rights (IPRs) and generate business worth Rs 1,000 crore in five years, a senior member of the association said. The association also expects that these steps will lead to the creation of a million jobs in the country.

"We have our charter according to which IESA has to incubate 100 startups, help them create 1,000 IPRs, generate business worth Rs 1,000 crore and create 1 million jobs over next five years," IESA executive council member Satya Gupta told PTI. IESA, whose members include electronic chip makers Intel, Texas Instruments, Samsung Semiconductor, eInfochips etc, has entered into an agreement with Software Technology Parks of India (STPI) to set up incubation center in every state.

India Electronics and Semiconductor Association (IESA) has set up its first incubation center in Delhi University campus. The center has been operational for more than two years and has successfully incubated 22 companies with a combined market valuation of Rs 150 crore. In January, IESA signed a pact with STPI and IIIT-Bhubaneswar to establish an electronic system design and manufacturing incubator at Bhubaneswar.

IESA, along with Electronics Sector Skill Council of India and KLE Technological University, has established National ESDM Technology Research Academy (NETRA) in Hubli, Karnataka where it provides mentorship and guidance on chipsets required for developing the technology. "At all incubation centers, we are helping students develop a concept into product. We are connecting them with investors, logistics support and other support required to develop their ideas into a product," Gupta said.

He said IESA is working on a curriculum for colleges to teach them how to convert an idea into a product. "We are now planning to scale up incubation centers and establish them closer to academic institutes in every state so that students become an entrepreneur. We plan to set up incubation center in every state. Even if are able to incubate startups in 20 states with the help of STPI, we will achieve our target," Gupta said. He said IESA is focussing on to help startups develop intelligent electronics products.

(With inputs from agencies.)