DU signs MoU with STPI to establish 'Electropreneur Park'

 The first-of-its-kind "Electropreneur park" to support start-ups in electronic design and manufacturing has been set at Delhi University and will become functional from next month.

PTI| Last Updated: Feb 22, 2015, 13:20 PM IST

New Delhi: The first-of-its-kind "Electropreneur park" to support start-ups in electronic design and manufacturing has been set at Delhi University and will become functional from next month.

The said incubator has been set up in the varsity's South Campus by a consortium comprising Software Technology Parks of India (STPI), under Union Ministry of Communications and Information Technology, and India Electronics and Semi Conductors Association (IESA) with an investment of Rs 21 crore.

"We have signed an MoU with the STPI and IESA has also been involved in the project. The park has been set up on DU campus and our students will be the beneficiaries. The funding has been provided by government through STPI," DU Registrar Tarun Das told PTI.

He said there was a a disconnect between the developments in industry and programmes in academic institutions.

"The park has been set up to bridge this gap and provide an entrepreneurial platform to students," he added.

"We have been seeking STPI's help in past too for functioning of the computer centres in DU, installation of various softwares and hardware. Both our campuses are Wi-Fi zone and we had roped in STPI for facilitating that too," Das said.

While the IESA is the implementation agency for the project, it has also roped in Cybermedia India Limited (CMIL) to support it in execution of the project.

With STPI providing funding and management of the incubation centre and DU the infrastructure, knowledge experts and incubatees, IESA and CMIL shall provide industry connect, mentoring, technical know-how, promotion and outreach in addition to venture capital access for the incubatees.

The park which is first-of-its-kind to be established in the country has infrastructural facilities, including world- class testing systems and measuring equipment, will become functional next month.

A model of the park was also set up at the university's ongoing cultural and academic festival "Antardhwani".

"The incubation park aims at providing budding entrepreneurs with tools that are generally very expensive. The Centre will not only provide the infrastructure but enable access to domain experts, mentors, shared consultants and services. It will also help innovators seek funding from foreign investors, venture capitalists and angel investors," said Dr Sanjeev Singh, member of the Projects Monitoring Committee.

"At the park, we aim to set up 50 enterprises in five years. We will invite ideas from young entrepreneurs and a panel for experts from industry and academia. 10 ideas every year will be selected and nurtured," he said.