Startup Innovation Key Driver of India’s Fast-Expanding Digital Economy

Article By : PIB India

Startups have an important role to play in the growth engine of India's technology ecosystem.

Rajeev Chandrasekhar, Minister of State for Electronics & Information Technology and Skill Development & Entrepreneurship visited the exhibition at the recent SemiconIndia Conference 2022 and interacted with startups in the electronics manufacturing and semiconductor sector. He spent time with the tech entrepreneurs to understand their current offerings, their product roadmaps, applications, and utilities of their technology and the on-ground impact their cutting-edge innovation is creating. In his interactions, he also urged them to share their thoughts on policy support, fiscal impetus, and other asks from the Government.

The Minister strongly affirmed about the potential of Indian Startups to significantly boost the Growth of India’s Digital Economy over the decade. Taking to his social media, the Minister tweeted, “Semicon startups are truly catalyzing India’s electronics and semiconductor ecosystem. May this tribe increase. I am confident that next Unicorn will be from here.”

Chandrasekhar, the Chairman of the Steering Committee of SemiconIndia 2022, has been a former chip designer in Silicon Valley in the United States, and a successful tech entrepreneur himself. The startups felt encouraged and inspired by the Minister’s call for them to join the fast-expanding Unicorn Club.

Chandrasekhar also met Raja Koduri, Chief Architect and Senior Vice President of Intel’s architecture, graphics and software (IAGS) division, who delivered a talk on “From Angstroms to Zetta-scale: Silicon, Systems and Software in India”. The Minister Congratulated Koduri for an excellent talk about the real potential in India in AI, system design and middleware for Indian startups. He also expressed optimism about Intel partnering with Indian Startups in this area.

The exhibition boasts of several MSMEs and Startups working on cutting edge technology and semiconductor application in various segments. A few notable Indian players in the segment are:

  • Signalchip – an Indian fabless semiconductor company that has built chipsets from the Baseband processing SoCs to Mixed Signal Devices to RF front ends and has created ‘Agumbe’, India’s first chipset for 5G NR, 4G LTE and 3G WCDMA standards.
  • Saankhya Labs – showcasing the latest semiconductor products and also 5G, Broadcast, and Satcom communication products.
  • Tessolve – a leading engineering solution provider with 2500+ engineers worldwide and a full breadth of pre- & post-silicon expertise. Tessolve provides a one-stop-solution with full-fledged hardware and software capabilities including advanced silicon & systems testing labs.
  • MosChip – the first fabless semiconductor company, has developed many connectivity-based products that are fabricated at leading foundries and shipped in millions of units. MosChip has niche expertise in the areas of analog, mixed-signal design, high-speed serial interfaces, and IP portfolio which includes silicon-proven SerDes up to 16Gbps as licensable IPs.
  • Infineon – designs, develops, manufactures, and markets a broad range of semiconductors and system solutions. The focus of its activities is on automotive and industrial electronics, communication, and information technologies, IoT, sensor technology and security.

In his interaction, Chandrasekhar reiterated total commitment to extend all support and work with the startups to build the Valley-like ecosystem domestically. He further reiterated the importance and key role the startups will play to be the growth engine of the technology ecosystem in India.

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