IESA and TiE Bangalore Sign MoU to promote IoT Start-ups
The world has witnessed several revolutions and periods of innovation and rapid growth that have changed the world as we know it. Throughout the 1800’s the world witnessed the industrial revolution, and then in the late 1990’s we witnessed the IT boom.
Now the world is on the brink of another revolution that promises to transform the way we live. The concept behind ‘ Internet of Things ‘ is astounding and scary at the same time. Imagine a world where every device in the world is connected to the internet and can interact with the environment. We may soon complete our millennial transition from “ The Flintstones” era to “ The Jetsons” era, where everything is automated and a house can take care of itself.
With the aim of aiming of making the experience of Digital India come alive, IESA (India Electronics & Semiconductor Association), the trade body representing the Indian ESDM, Electronic System Design and Manufacturing industry has signed a Memorandum of Understanding with The Indus Entrepreneurs (TiE), Bangalore chapter to promote start-ups and entrepreneurs in fabless semiconductor and electronic products with initial focus on the IoT space.
The partnership will address challenges faced by entrepreneurs & businesses developing fabless semiconductor and electronic products
The Indus Entrepreneurs(TiE) is a not for profit network of entrepreneurs that was founded in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives, and senior professionals with roots in the Indus region. There are currently 11,000 members in 60 chapters across 17 countries. TiE’s mission is to foster entrepreneurship globally through mentoring, networking, and education. Dedicated to the virtuous cycle of wealth creation and giving back to the community, their focus is on generating and nurturing our next generation of entrepreneurs.
TiE Bangalore Chapter was established in February 2000 to encourage and grow entrepreneurship in Karnataka. TiE Bangalore has over 125 Charter Members who are all accomplished and successful entrepreneurs and leaders and over 800 members who are either entrepreneurs or aspiring entrepreneurs. It conducts over 100 events, 25 workshops and 12 mentoring clinics in a year. It provides mentoring, education, access to funding, access to accelerators via networking opportunities and regular meet ups. Over 1000 entrepreneurs have been mentored and assisted by TiE Bangalore since its inception.
ESA is the premier trade body representing the Indian Electronic System Design and Manufacturing ESDM industry and has represented it since 2005. It has over 230 members - both domestic and multinational enterprises. IESA is committed towards building global awareness for the Indian ESDM industry and supporting its growth through focused initiatives in developing the ecosystem. This is through publishing credible data, networking events and alliances with other international associations. IESA works closely with the Government as a knowledge partner on the sector, both at the centre and at the state level.
According to Machina Research data cited at a TiE panel, the global market for IoT in 2020 will be worth about $373 billion in revenue, with $194 billion from hardware and $179 billion from software. India will account for $10-12 billion of this total revenue. IESA and TiE will actively promote the ecosystem with an aim to address the major challenges faced in current ecosystem: Design for Manufacturability (DFM), Testing and Interoperability and Standards and enable the success of the start-ups. They are looking to focus on three main verticals, Energy, logistics and public health.
Commenting on this initiative, Mr. Ashok Chandak, Chairman- IESA and Sr. Director NXP Semiconductors said, “IESA is pledged to make India an ESDM powerhouse and we believe that start-up initiative with focus on IoT will be very crucial step in this direction. Internet of Things (IoT) is a revolutionary phenomenon that offers incredible Innovation opportunities for entrepreneurs to connect the world like never before. We look forward to work with TiE to help overcome key challenges faced by the start-up communities and help realize the Make in India dream.”
Commenting on the alliance, Mr. Naganand Doraswamy, President, TiE-Bangalore said, “TiE is sworn to foster innovation through entrepreneurship nationally and globally. IoT has the power to transform entire segments of Industry like public health, precision farming, surveillance and logistics. Boosting emerging companies in the IoT space will be vital to the economic growth of the nation. We believe IoT is the next big thing and it will be integral part of every sector/mechanism in no time. We are happy to be working with IESA and will chart a roadmap together to make India empowered digitally.”
As a first step towards enabling the start-up ecosystem, the panel discussions themed “Smart Water, Smart power and the Internet: Public utilities for the city of tomorrow” had also been organized for the evening session. The panel discussion had industry thought leaders and experts’ deep dive into the important issues of growing urban world such as traffic, water and energy and discussions on how IoT can help resolve such problems for the city of tomorrow.
Stay tuned for more details and an in depth article about the panel discussion.
For more information about IoT-related activities and events organized by IESA and TiE, you can check out their website here