Union Minister Rajeev Chandrasekhar said on Thursday that Prime Minister Narendra Modi had allocated a budget of ₹1,200 crore for investment in semiconductor design start-ups. According to reports quoting the official, 27 domestic start-ups have already qualified for the initiative. The lawmaker is set to launch the third SemiconIndia Future Design Roadshow at IIT Delhi on Friday.
The IT Ministry is organising a series of roadshows by across the country to stimulate the next-gen Semiconductor Designers. The event is likely to witness a lineup of major announcements, and will showcase the vision of global semiconductor leaders on catalysing the semiconductor ecosystem in India.
“With a belief that the next unicorn will be from the fabless chip design area, 2 future Design startups, which have been approved for support under the DLI (Design Linked Incentive) Scheme and will be provided with the financial support as well as design infrastructure support for designing state of the art system on chips will be announced,” an official release said.
During the roadshow on Friday, global semiconductor leaders will be exchanging visions to catalyse the semiconductor ecosystem in India. The event will be launched by Minister of State for Electronics and IT Rajeev Chandrasekhar.
Meanwhile, VC firm Sequoia Capital India has become the first institutional investor to make a foray into the semiconductor space “as they believe there is a massive opportunity for deep tech startups to turn the country into a global centre for custom silicon IP and hardware innovation”. Sequoia will also announce investment in two Digital India RISC-V (DIR-V) start-ups.
(With inputs from agencies)
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