India's Semiconductor Startups Shine with Government and VC Support
The Indian semiconductor design ecosystem is strengthening thanks to government-backed schemes such as the Design Linked Incentive (DLI) and Chips to Startup (C2S) programmes. Startups like Netrasemi are gaining traction, receiving significant VC investments, which highlights India's design capabilities and encourages more innovation in chip design.
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In a notable advancement for India's semiconductor design ecosystem, startups fostered under the Ministry of Electronics and IT's (MeitY) Design Linked Incentive (DLI) Scheme and Chips to Startup (C2S) Programme are witnessing substantial progress, according to an official statement from the Ministry of Electronics & IT. Among these, Netrasemi has become a standout entity, securing a venture capital investment of Rs 107 crore under the government's chip design initiative.
Netrasemi specializes in developing chips used for smart vision applications, including CCTV cameras and Internet of Things (IoT) devices. Welcoming this encouraging development, Union Minister for Electronics and IT, Ashwini Vaishnaw, remarked on India's impressive design capabilities. He highlighted that the initiatives fostered by the India Semiconductor Mission would set a precedent for other Indian startups.
Launched in 2022, the DLI Scheme has seen government commitments of Rs 234 crore toward chip design projects from 22 companies, with a collective project valuation of Rs 690 crore. These innovations span across various applications, including mobile networks, satellites, and smart devices. Moreover, startups participating in these schemes have successfully attracted over Rs 380 crore from venture capital investors, with five already completing chip design testing with global manufacturers.
The initiative also provides more than 72 companies access to sophisticated software tools necessary for chip design. Among the startups securing private investment, Mindgrove Technologies raised Rs 85 crore for CCTV chip design, and Fermionic Design garnered Rs 50 crore for satellite communication chips. Others like Morphing Machines, InCore Semiconductors, and BigEndian Semiconductors are swiftly moving towards the production phase. The government's ambition to transition India into a 'product nation' is witnessing fruition as private investors bolster young companies to innovate and market their designed chips.
(With inputs from agencies.)
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