Finally here comes a great news to all those startups creating innovative products in the space of electronics. The government has taken steps to incubate and fund technology startups focusing on electronics.
Better late than never, this initiative from the government is a huge boost of encouragement for students and startups working in this field.
Why a sudden interest in electronics ?
Big money! With imports worth $32 billion during 2012-13, this is the second largest item imported after crude oil. It is expected to cross $300 billion by 2020!
What are the steps taken by govt ?
Incubate startups to build technology products, to reduce on imports. According to National Electronics policy 2012, a fund of Rs 10,000 crore has been announced for Electronic development.
Big Hairy Audacious Goals ?
To create 200 successful product technology companies.
To create 50 semi-conductor companies.
How do they do it ?
Possible partnerships with IIIT-Bangalore, Delhi University, and two such incubators to be setup in first phase.
What's in it for students?
Million-dollar question! All those students passionate about robotics, sensors, embedded circuits, semi-conductors etc, working on innovative projects, this might be a great opportunity for you to explore more on your interests.
You can package your creative projects in to a useful technology product to kick-start your startup and embrace a whole new journey of Entrepreneurship.
With new such opportunities arising, it does give hope to students to dream a little bigger and nurture their innovative projects by addressing a technology roadblock! This in fact might be a game changer especially for students studying in the branches of electronics, helping them focus on electronics related careers, instead of blindly opting for IT companies without other serious career options for thousands of engineering students.
Students working on innovative projects, do share it with us. We would love to hear from you.