MeitY likely to announce financial support for design start-ups today

The Ministry of Electronics and Information Technology (MeitY) may announce financial support to several semiconductor design start-ups at the third SemiconIndia futureDESIGN Roadshow at the Indian Institute of Technology Delhi on Friday.

The roadshows aim at stimulating the next-generation semiconductor designers, promoting the culture of co-development and joint ownership of intellectual properties with active industry participation, and indigenously developing semiconductor chips for automobile, mobility, communication, and computing.

The speakers include Minister of state for electronics and IT Rajeev Chandrasekhar, Renesas Electronics President and CEO Hidetoshi Shibata, and Sequoia Capital India MD and Partner Mohit Bhatnagar.

The programme is part of the semiconductor design-linked incentive (DLI) scheme launched in 2021 to boost the semiconductor design ecosystem and bring self-reliance and technology leadership to the semiconductor design sector. India is home to 20 per cent of the world’s semiconductor design engineers and thousands of chips are designed by them every year in the country.

The government has so far on-boarded 23 start-ups under the semiconductor DLI scheme. It has allocated Rs 1,200 crore for them under the scheme. In the roadshow, four more start-ups are likely to get the financial benefits. PTI