ICEA Launches Venture Access Labs to Revolutionize Indian Manufacturing

The India Cellular & Electronics Association (ICEA), in collaboration with Caret Capital, launched Venture Access Labs, a program designed to evolve India's electronics and manufacturing sectors. By integrating global technologies, the initiative aims to enhance innovation, provide access to high-potential startups, and accelerate global competitiveness.

The India Cellular & Electronics Association (ICEA) has introduced its new tech innovation program, Venture Access Labs, in collaboration with venture capital firm Caret Capital. This initiative will empower India's electronics and appliance manufacturing firms by exposing them to global technologies and innovative practices.

Venture Access Labs aims to provide Indian manufacturers with a competitive edge by connecting them with groundbreaking innovations in areas such as advanced manufacturing, AI, IoT, energy efficiency, and materials science. The program will support various functions including procurement, supply chain, and legal, while offering a pipeline of strategically aligned global startups.

Pankaj Mohindroo, Chairman of ICEA, emphasized the program's role in driving India's technological capabilities and competitiveness. Salil Kapoor, co-founder of Venture Access Labs, highlighted the initiative's potential to transition Indian manufacturing toward tech-driven global leadership. As Prajakt Raut of Caret Capital noted, such initiatives are pivotal as India marches towards becoming a USD 10 trillion economy.

(With inputs from agencies.)