Thursday, December 2014: Government of India has given an approval to the communications ministry’s policy to set up an Electronics Development Fund (EDF). The fund is aimed at promoting innovation, research and development (R&D), intellectual property (IP) and commercialization of products in the Electronics System Design and Manufacturing (ESDM), nanoelectronics and IT sectors.
Apart from this, another important approval for the growth of ESDM sector was given by the government on 5 June for setting up electropreneur park with an investment of Rs 211 million. It would be put in practice by STPI, together with Delhi University and Indian Electronics and Semiconductor Association, Bangalore, for Product development and IP creation in the ESDM sector.
According to an ELE Times report, Ashok Chandak, chairman, IESA and senior director, NXP Semiconductors said that EDF will serve as a key pillar to boost local ‘Innovation Led Design’, he further appreciated DeitY’s and Communication & IT Minister’s efforts for getting it finally approved. He added that EDF will serve as greater incentivisation for R&D and incubation centres to encourage the local IP development and product creation which constitutes greater than 50 per cent value addition for electronic products.
While M N Vidyashankar, IAS, president, IESA said that they have been putting efforts together with Union and various state governments on policy matters and also to develop a roadmap to make India an ESDM powerhouse. He even noted about the huge thrust arranged by them to support start-ups in the electronics space and the Electronics Development Fund and said that all these innovations opportunities will help the department to overcome key challenges faced by the start-up community and also to realise the government’s Make in India dream.
