Qualcomm to encourage the hardware tech start-ups to showcase their advanced tech products
India: US-based semiconductor company,
Qualcomm, which came up with its “Design in India” initiative in December 2015,
has decided to mentor and encourage the emerging hardware tech start-ups in India
for prototyping their advanced products to grab funding from the company.
Through
this initiative, the company aims in providing the IoT services, hybrid drones,
etc. related products and services to these start-ups in order to boost up the
ecosystem of hardware tech and fulfilling the aim of “Make in India” initiative
across the country. Additionally, the local manufacturing & designing will
also get a hype through this initiative.
The
president of Qualcomm, Sunil Lalvani stated that they have partnered with
Nasscom for fulfilling the aim of this initiative and initially, a total of 400
entries were registered, out of which the panellists from Nasscom and Qualcomm
shortlisted 23 participants. Further, these finalists were presented before the
jury to select the Top 10 finalists.
Through
this initiative, each of these 10 finalists will get an access to the
“Innovation Lab” facility of Qualcomm and they will also enjoy the pleasure to
be raised by the company at its laboratory in Bangalore which will provide them
with various equipment and tools for building their prototypes.
TechSci
Research depicts that with the help of this initiative, the ecosystem of
hardware tech start-ups will get a boost in the coming future which will take
the country one step closer to fulfil its aim of “Make in India” initiative.
According
to recently published report by market research and consulting firm TechSci Research, “India Internet of Things (IoT) Market Forecast and Opportunities, 2020”, IoT
market in India is projected to grow at a CAGR over 28% during 2015- 2020. IoT
is being rapidly brought into use across diverse industry verticals to reduce
operational and manpower costs, and increase operational efficiency. Consumer
electronics, automotive & transportation, BFSI, home & building, energy
& utilities, retail, supply chain & logistic sectors, and manufacturing
are the key emerging application areas where IoT technology is majorly being
adopted. However, India’s IoT market is highly fragmented with numerous players
operating across the value chain.