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IESA Aims To Create Rs 1000 Crore Biz, 1 Million Jobs From Startups In 5 Years

January 22, 2019

Electronics and electronic chip maker body IESA expects to promote 100 startups to help them create 1000 intellectual property rights (IPRs) and generate business worth Rs 1000 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 1000 IPRs, generate business worth Rs 1000 crore and create 1 million jobs over next five years,” IESA executive council member Satya Gupta told.

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 centre in every state.

India Electronics and Semiconductor Association (IESA) has set up its first incubation centre in Delhi University campus. The centre 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 centres we are helping students develop a concept into a 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 centres and establish them closer to academic institutes in every state so that students become an entrepreneur. We plan to set up incubation centre 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.—EENADU India