NXP India partners with MeitY, FabCI to launch semiconductor incubation programmes for startups
Up to five startups will be incubated for a period of two years in each cohort every year. The participants will include Semiconductor Chip Design, IP Design, Design Services startups with an IP focus and Chip Design Tool related startups.
March 25, 2021 / 05:14 PM IST
Semiconductor major NXP India is partnering with the Ministry of Electronics and Information Technology (MeitY), and Fabless Chip Design Incubator (FabCI), IIT Hyderabad for its maiden ‘Semiconductor Startup Incubation and Acceleration Programme’.
NXP India said the objective of this programme is to find, facilitate and mentor semiconductor and IP design startups across India in technological as well as business aspects.
The programme aims to support India's vision of making the country a self-reliant nation (Aatmanirbhar Bharat) as it will create a ready platform to support startups who wish to design semiconductor chips in India.
Industry estimates suggest the Indian semiconductor market stands at around $300 million. If semiconductor fabs are added to this, the value could go up to $4-5 billion.
India imports all semiconductor fab units from China right now. About 1-2 percent of the products are also imported from Taiwan, another upcoming location for this industry.
Sanjay Gupta, Vice President and India Country Manager said, "In this endeavour, Team India has created a technology startups focused framework with two key initiatives, technology startup challenge to recognise the most innovative Indian Startups products aligned to NXP businesses and technologies and Technology Startup Incubator to nurture and groom young startups with complete enablement, funding and day to day guidance using a unique collaboration with the government and top academic institutes."
Under this initiative, up to five startups will be incubated for a period of two years in each cohort every year. The participants will include semiconductor chip design, IP design, design services startups with an IP focus and chip design tool related startups.
Startup selected for the core programme will have benefits accruing up to Rs 1 crore per year per startup, mentoring Access during the design and development phase among others.