Govt Earmarks INR 1,000 Cr To Fund Semiconductor Design Startups: Rajeev Chandrasekhar

Govt Earmarks INR 1,000 Cr To Fund Semiconductor Design Startups: Rajeev Chandrasekhar

SUMMARY

The minister also announced that the government has committed an investment of $30 Bn in electronics and semiconductors

The government wants to ensure that the next generation of devices and products are being architected and designed in India

In December last year, the government approved the Semicon India programme, with an outlay of INR 76,000 Cr, to develop India’s semiconductors and display manufacturing ecosystem

While the government has been taking many initiatives lately to make India the semiconductor hub, it has set aside INR 1,000 Cr to fund semiconductor design startups, Rajeev Chandrasekhar, Minister of State for Electronics and Information Technology, said during an event.

As shared by the minister, the government has dedicated an INR 1,000 Cr fund that will directly be used to fund and invest in, along with matching contributions from the State, as capital into semiconductor design startups, ET reported.

In addition, the government wants to ensure that the next generation of devices and products, like India Stack or next-gen platforms, are being architected and designed in India, Chandrasekhar said while speaking at Bengaluru Tech Summit 2022.

This will further the goal of achieving at least 50 to a 100 semiconductor design startups in different use cases and different devices, across the next one or two years, getting started out and building out devices, he added.

Government’s Push To Fuel Semiconductor Mission In India

The minister also announced that the government has committed an investment of $30 Bn in electronics and semiconductors, of which $20 Bn will be invested in electronics manufacturing and design, and $10 Bn in semiconductor manufacturing research and design.

Earlier this year, the Ministry of Electronics and Information Technology (MeitY) formed an expert panel for India’s semiconductor mission and to provide specific inputs to develop the ecosystem in the country. At the time of the formation, it was said that the panel would focus on supporting startups and SMEs in the domain.

In December last year, the government approved the Semicon India programme, with an outlay of INR 76,000 Cr, to develop India’s semiconductors and display manufacturing ecosystem.

As per the government’s vision document, India will use semiconductors worth $70-$80 Bn to manufacture electronics products worth $300 Bn by 2026.

For any electronic device, semiconductors act as the essential component to manufacture those devices. As the shortage of semiconductors often leads to an increase in input costs for many products and services, the government is looking at making the country self-reliant in the semiconductor segment across innovation, designing, manufacturing.

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Govt Earmarks INR 1,000 Cr To Fund Semiconductor Design Startups: Rajeev Chandrasekhar-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Govt Earmarks INR 1,000 Cr To Fund Semiconductor Design Startups: Rajeev Chandrasekhar-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Govt Earmarks INR 1,000 Cr To Fund Semiconductor Design Startups: Rajeev Chandrasekhar-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Govt Earmarks INR 1,000 Cr To Fund Semiconductor Design Startups: Rajeev Chandrasekhar-Inc42 Media
Govt Earmarks INR 1,000 Cr To Fund Semiconductor Design Startups: Rajeev Chandrasekhar-Inc42 Media
You’re in Good company