Govt has earmarked Rs 1,000 crore to fund chip design startups: Rajeev Chandrasekhar

Synopsis The Centre is also working to build an end-to-end semiconductor ecosystem, which includes the new fund, and the semiconductor packaging and manufacturing components, said Minister of State for Electronics and IT Rajeev Chandrasekhar. Agencies The government has set aside Rs 1,000 crore to fund semiconductor design startups, Minister of State for Electronics and IT Rajeev Chandrasekhar said. The Centre is also working to build an end-to-end semiconductor ecosystem, which includes the new fund, and the semiconductor packaging and manufacturing components, he added.

“We clearly want to be able to say that the next generation of devices and products, like India Stack or next-gen platforms, are being architected and designed in India. We have set aside a Rs 1,000 crore fund that will be directly used to invest by the government, with matching contributions from the states as capital into semiconductor design startups,” Chandrasekhar said. He added that the government’s goal was to have “at least 50-100 semiconductor design startups in different use cases in the next 1-2 years” which will be incorporated into products and the overall digital ecosystem.

Chandrasekhar was speaking at the Bengaluru Tech Summit 2022 on Thursday. The Centre is currently scrutinising applications for chip manufacturing in the country. Companies that qualify for the government incentives under the India Semiconductor Mission are expected to be announced soon.

Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories The government is also working with organisations such as IIT-Madras on a project to design the next generation of microprocessors, Chandrasekhar added. The government has committed $30 billion for semiconductors and electronics. It has committed $20 billion in investment for electronics manufacturing and design, and $10 billion for semiconductor manufacturing and design, he said.

In semiconductors, the focus will be on creating manufacturing capacity, packaging and verification capacities and capabilities, design, research, and skill. “More focus will also be towards semiconductor R&D like processing, manufacturing and tooling. Apart from upgrading the Semiconductor Lab in Mohali for up to Rs 10,000 crore with a private partner, another research centre will be set up in Bengaluru,” Chandrasekhar added.

Thursday, 17 Nov, 2022 Experience Your Economic Times Newspaper, The Digital Way! Read Complete Print Edition » Front Page Pure Politics Companies ET Markets More RBI Puts Onus on EU Banks to Break ESMA Stalemate This was conveyed at a meeting between senior officials of the MNC banks and RBI deputy governor T Rabi Sankar on November 11, multiple sources told ET. Opt in for Hard Work or Leave, Musk tells Twitter Employees Elon Musk sent a message to Twitter staff telling them that they had until Thursday to consider whether they wanted to stay on for “working long hours at high intensity” or take a severance package of three months’ pay. Night Bookings in India Up 80% in Q3, 2022 vs 2019 Period Vacation rentals company Airbnb saw overall night bookings by Indians grow by almost 50% in the third quarter, and domestic night bookings rise by about 80% compared to the same pre-Covid-19 period.

Read More News on Rajeev Chandrasekhar chandrasekhar bengaluru tech summit india stack india semiconductor mission Stay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox. .

. . more less ETPrime stories of the day People Copycat crorepati: How Mohnish Pabrai made millions by cloning Warren Buffett’s investment strategy 9 mins read Three insights to kick-start your day, featuring Toyota, China, Maruti and India 3 mins read Artificial intelligence How machine learning could vastly speed up the search for new metals 4 mins read Subscribe to ETPrime.