NXP India, in Collaboration with MeitY, Start-up India & FabCI, Launches Semiconductor Startup Program 2023 for Companies
NXP Semiconductors India in collaboration with Start-up India, FabCi or Fabless Chip Design Incubator and Ministry of Electronics and Information Technology has launched the second edition of the Semiconductor Startup Incubation and Acceleration program.
The initiative aims to identify, nurture, mentor and establish semiconductor and IP design startups across India with a focus on creating a strong ecosystem for chip design and innovation.
The program, which started in 2022, has successfully promoted the growth of numerous startup companies in the semiconductor industry. It aims to provide support in several critical areas, including idea validation, exposure, mentoring and access to relevant ecosystem, in line with India’s drive to become self-sufficient in semiconductor chip design.
The program is a collaborative project between NXP Semiconductors and the FabCI incubator at the Indian Institute of Technology (IIT), Hyderabad. Key partner MeitY brings its know-how and support to the initiative. The program is now inviting applications from the emerging fields of semiconductor chip design, IP design and design services, with a particular focus on areas such as Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT), 5G, Edge Computing, Functional Security, Human Machine Interface, IoT Security, RISCV , quantum and more.
According to details shared on the Start-up India website, companies from sectors such as automotive, industrial, communication infrastructure, mobile, smart city and smart home are encouraged to participate in this program. It was also stated that beginners in different stages, up to the Minimum Viable Product (MVP) pilot test stage, can apply. The key criteria are that they must have high scaling potential, valuable IP and have a clear competitive advantage in a large potential market.
A wide range of stakeholders, including accelerators, business incubators, investors, mentors and individuals, are encouraged to participate in the program, further expanding its reach and impact. The program also expands its scope to cover different industries and service types, from artificial intelligence and healthcare to transportation and robotics.
Start-up companies selected for the program receive non-tax incentives aimed at promoting their growth for two years. These incentives include 50+ hours of mentoring, full suite of Electronic Design Automation (EDA) tools, approximately Rs 1 crore in market capitalization, association with NXP as a trusted industry partner, access to NXP India Post-Silicon Lab, thought leadership sessions with experts and the opportunity to attend an NXP demo day with industry investors and experts.
The application process for the second edition of this program is now open and companies are invited to submit their applications before October 15th. Although internal evaluation closes on November 15th, pitching and selections for the program will be completed by December 7th.
