The central government will soon be launching the ‘Future Lab’ Programme, aimed at fostering collaboration between the government lab, Indian startups and prominent enterprises and corporations in the electronics industry.

This initiative, announced at IESA Vision Summit in Bengaluru, will specifically target tier-one electronic suppliers and automotive and industrial sectors. The aim of this programme is to revolutionise system design and innovation for the future, said Minister of Electronics and IT Rajeev Chandrasekhar, addressing the audience virtually at the event.

“We want India’s substantial presence not only in manufacturing but also look at becoming the preferred partner for enterprises, consumers and governments worldwide when it comes to innovation and design, especially in the areas of future systems and semiconductor devices and products,” Chandrasekhar added.

Further, he shed light on the framework and investment initiated by Prime Minister Narendra Modi, which will look to enhance the electronics and semiconductor ecosystem, especially deep tech.

Deep tech refers to startups that are built upon significant scientific or engineering challenges, resulting in technological innovations.

Chandrasekhar said the aim is to cater to the growing digitisation needs and ongoing IoT requirements comprehensively.

“Indian government is not only committed to stimulating the development of the electronics information sector but also responsible for establishing its prominent participation in the ever-evolving global value chain.” – MoS Rajeev Chandrasekhar 

India has witnessed a remarkable surge in the number of deep tech startups lately, surpassing 3,000 in total. Over the past decade, these startups have experienced an impressive cumulative growth rate of 53 per cent, as per a nasscom report.