A memorandum of understanding (MoU) was signed between Software Technology Parks of India (STPI), as the Managing Partner, Technology Innovation Hub at Indraprastha Institute of Information Technology, Delhi (IHub Anubhuti) as Ecosystem Partner, India Electronics and Semiconductor Association as Implementation Partner, Indraprastha Institute of Information Technology, Delhi as Associated Academic Institute and AIC STPINEXT INITIATIVES as SPV of STPI at IIIT Delhi for establishing the proposed EP 2.0. Five partners have come forward and have signed an MoU to create an ecosystem for fostering start-ups and entrepreneurs in the field of electronics system design and manufacturing (ESDM) and related fields.
Speaking on the occasion Shri Arvind Kumar, Director General, STPI said, “In order to create unicorns in the ESDM industry, the proposed EP innovations center “EP 2.0” will scale up its current operations and offer startups and MSMEs a complete ecosystem, including infrastructure, network, mentors, and funding.”
Prof. Ranjan Bose – Director IIIT Delhi said, “IIIT Delhi shall provide the best possible support in terms of infrastructure and involvement of students and faculty of the institute in this project.”
Electropreneur Park project in its new form EP 2.0 will support a much larger number of startups with funding support from the Ministry of Electronics and Information Technology (MeitY) and the broad project objectives of the project are:
§ To support 1000 Startup / MSME beneficiaries over 10 years
§ To support 400 Startup / MSME beneficiaries over the next 5 years (2022 – 2027) under the following programs:
o Pre-Incubation to support startup Ideas to the POC stage
o Incubation Program
o Acceleration Program
o Nurture startups and design entrepreneurs to promote ESDM design in India’s capabilities
o Nurture Service/ trading MSME to “Make in India” in place of importing finished good
§ Create 20 Spoke Centres to nurture students & budding entrepreneurs from selected Institutes & Incubation centers to promote ESDM Innovation by providing opportunities to convert Ideas into a validated proof of concept
§ IP generation leading to product creation
§ Empanelled group of investors for startups
§ Focused short-term problem / program-based engagements with corporate and ecosystem partners
§ Providing global platforms to startups through collaboration with international ecosystem partners
§ Creation of a registered fund to support ESDM startups from a long-term perspective
§ Create Unicorns in the field of ESDM