India Press Dispatch
Buisness

NXP India Opens Doors for Businesses to Participate in Semiconductor Startup Program 2023 With MeitY, Start-up India & FabCI

<p>The second iteration of the Semiconductor Startup Incubation and Acceleration Program has been established by NXP Semiconductors India in association with Start-up India, FabCi or Fabless Chip Design Incubator, and the Ministry of Electronics and Information Technology.<img decoding=”async” class=”alignnone wp-image-207221″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/09/theindiaprint.com-morgan-stanley-increases-the-target-price-for-it-stocks-for-infosys-tcs-and-hcl-wh.png” alt=”theindiaprint.com morgan stanley increases the target price for it stocks for infosys tcs and hcl wh” width=”1438″ height=”960″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/09/theindiaprint.com-morgan-stanley-increases-the-target-price-for-it-stocks-for-infosys-tcs-and-hcl-wh.png 620w, https://www.theindiaprint.com/wp-content/uploads/2023/09/theindiaprint.com-morgan-stanley-increases-the-target-price-for-it-stocks-for-infosys-tcs-and-hcl-wh-150×100.png 150w” sizes=”(max-width: 1438px) 100vw, 1438px” title=”NXP India Opens Doors for Businesses to Participate in Semiconductor Startup Program 2023 With MeitY, Start-up India & FabCI 6″></p>
<p>With an emphasis on building a strong ecosystem for chip design and innovation, the project intends to find, foster, mentor, and launch semiconductor and IP design start-ups throughout India.</p>
<p>The initiative, which began in 2022, has been instrumental in accelerating the development of various start-ups in the semiconductor sector. It intends to promote India’s desire to become independent in the semiconductor chip design industry by offering assistance in a number of crucial areas, such as concept validation, visibility, mentoring, and access to the necessary ecosystem.</p>
<p>NXP Semiconductors and the FabCI incubator at the Indian Institute of Technology (IIT), Hyderabad, collaborated on the initiative. Key partner MeitY contributes its knowledge and assistance to the project. The program is now accepting applications from start-ups for positions in the design of semiconductor chips, intellectual property, and design services, with a focus on technologies like artificial intelligence (AI), machine learning (ML), the internet of things (IoT), 5G, edge computing, functional safety, human machine interface, IoT security, RISCV, quantum, and more.</p>
<p>Companies from sectors like automotive, industrial, communication infrastructure, mobile, smart city, and smart home are encouraged to join in this initiative, according to information posted on the Start-up India website. Additionally, it was said that start-ups at different stages, from Minimum Viable Product (MVP) through pilot trial stage, are eligible to apply. The main requirements are that they should be highly scalable, contain significant intellectual property, and provide a clear competitive advantage in addressing a sizable prospective market.</p>
<p>The initiative is encouraged to include a broad variety of stakeholders, including incubators, investors, mentors, and people, in order to increase its effect and reach. The initiative also broadens its focus to include a variety of sectors and service types, from AI and healthcare to robots and transportation.</p>
<p>The non-fiscal incentives given to startups chosen for the program are meant to support their development over a two-year period. These benefits include 50+ hours of mentoring, access to a complete set of Electronic Design Automation (EDA) tools, market access valued at about Rs 1 crore, collaboration with NXP as a dependable industry partner, access to NXP India’s Post-Silicon Lab, thought leadership sessions with experts, and the chance to take part in the NXP Demo Day with industry investors and experts.</p>
<p>The second iteration of this program is now accepting applications, which must be submitted by October 15 at the latest. Pitching and choices for the program will be made by December 7 while the internal review will end on November 15.</p>
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