IESA, TiE place bet on start-ups to drive IoT forward

In an effort to establish significant headway in the Internet of Things (IoT) domain, India Electronics and Semiconductor Association (IESA), the trade body representing the Indian electronic system design and manufacturing (ESDM) industry, and the Bangalore Chapter of The Indus Entrepreneurs (TiE) have brought together various home-grown start-ups in an exclusive innovation showcase event. Organised at the Intel campus in Bangalore, 16 start-ups chosen from 60 preliminary applicants were given a platform to demonstrate IoT products and pitch about their business to the IESA members and the invited venture capitalists.

The objective was to create and foster an ecosystem to promote start-ups that develop fabless semiconductor and electronic products especially around connected devices or IoT.

A jury panel further shortlisted Bangalore-based Cardiac Design Labs for a sponsored visit to the SRII Global Conference on June 7-10, 2015 at San Jose, California. The winner will be provided with a platform to ensure visibility to the Silicon Valley investors, companies and academics working in IoT space. Earlier in 2014, IESA partnered with TiE, Bangalore chapter to promote start-ups and entrepreneurs in fabless semiconductor and electronic products with initial focus on the IoT space.

According to the Department of Electronics and Information Technology (DeitY), the IoT industry in India is expected to be a $15 billion market by 2020. It is expected that India would have a share of 5-6 per cent of the global IoT industry. IESA is also providing inputs to IoT policy that is being drafted by DeitY.

"We foresee tremendous growth potential for India's IoT sector with a large chunk of contribution from the start-up ecosystem. Scientists and researchers across the globe are busy developing a host of next gen IoT solutions and we at IESA strongly believe that the country will have a large role in shaping the IoT revolution in the days to come. The future ahead is expected to bring billion dollar domestic market opportunities in IoT and we see it changing the face of India's ESDM sector in the future. We heartily congratulate these young entrepreneurs for what they have achieved so far and appreciate their constant endeavour to make a positive change in the society that they live in," said M.N. Vidyashankar, president, IESA.

Anand Madanagopal, founder & CEO, Cardiac Design Labs, said "This is big for us. We are delighted, excited and elated with this honour. When the world is betting big on IoT start-ups, it's great to witness Intel, IESA and TiE promoting the IoT potential. We feel blessed with their advice and support. We believe we will continue to have their support in our growth journey and drive the IoT space to the next level, together."