Soon, electronics hardware and semiconductor companies in the country could resort to venture capital funding. The government is reportedly working to set-up VC funds for supporting electronics sector in the country. According to a Deccan Herald report, the electronics department is mulling the options of setting up Angel/Venture funds for firms associated with electronics.
This information was shared by Ajay Kumar, joint secretary, Department of Electronics and Information Technology, (DeiTy), Government of India said, “It is expected that electronics-specific venture capital funds should be available in the next few months.” The VC fund, if created, will enable Indian hardware start-ups to raise fundings. Generally, the venture capitalists have ‘preferred’ big software companies for providing funds.
Kumar also talked about setting up an electronics development fund (EDF). The report quoted him saying, “A detailed project report for setting up a Rs 100 billion EDF is being examined by the government.”
The official was also vocal about the need to establish an in-house electronics set-up. “Efforts to develop products like smartphones, tablets, smart-box in collaboration with industry have been initiated and an expression of interest (EoI) has been floated inviting industry to develop conditional access system (CAS) with grant from the government,” he further added.
With a view to encourage the electronics on education-front, the government has a special effort in place to scale up PhDs in electronic system design and manufacturing. The said scheme will provide support to 3,000 PhD students during the twelfth plan.
