The second incubator will be housed at STPI Bhubaneshwar to nurture start-ups and help them scale up by providing access to funds, market and mentors.

Dr Omkar Rai, Director General, STPI, said, "Software Technology Parks of India (STPI) has been the cornerstone of the IT growth story of India. Our facilities across the country helped the IT industry grow from strength to strength by providing seamless connectivity and policy incentives among others to the industry. In collaborating to establish the Electropreneur Park at Delhi with IESA & Delhi University, we have been able to develop a good model for supporting the electronics industry. Our vision is to create more such facilities across the country to support growth of the electronics industry, in a way similar to the IT industry. I'm very happy that we have joined hands again for the ESDM Incubator at Bhubaneswar and wish all partners great success."  

"We are delighted to associate with MEITY, STPI and IESA in setting up the Electropreneur Park. Initiatives such as these are gradual steps towards development of the ESDM ecosystem in the country. We are excited as this program provides significant opportunities and a conducive environment for our students to gain valuable experience and guidance in this space. We look forward to more such partnerships to help develop the ESDM ecosystem in India", said Gopal Krishna Nayak, Director, International Institute of Information Technology, Bhubaneswar (IIIT - Bhubaneswar).

Rajesh Ram Mishra, President, IESA said, "We are excited that the Honourable Prime Minister has a clear vision to boost the ESDM ecosystem in the country. Our goal is to make India a design-led manufacturing hub by aiding the development of the ESDM sector in the country and placing entrepreneurs and businesses on a global platform. We are thrilled with the opportunities in this space and look forward to fructifying more such partnerships.

Industry Outlook

The demand for electronic products in India is expected to grow at a CAGR (compound annual growth rate) of 41 per cent during 2017-2020 to reach $400 billion by 2020. The domestic production which is currently growing at a CAGR of 27 per cent may touch $104 billion leaving a huge gap for import to the extent of $300 billion, according to the joint study brought out by ASSOCHAM and NEC. The demand for electronics hardware in the country is projected to increase from USD 20.6 billion in 2012 to USD 38.7 billion by 2019.

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