Supporting India’s ambition to become a global start-up hub and leveraging on India’s creativity and talent to co-develop innovative solutions

Bengaluru,India – Feb 21, 2017 – Infineon Technologies Indiaentered into an agreement with India Electronics and Semiconductor Association (IESA) to support the Electropreneur Park (EP), giving a major boost to the ‘Make in India’ and Start-up India initiatives. Infineon will work with start-ups incubated by EP, offering business and technical consultation and mentoring. The agreement was signed by Vinay Shenoy, Managing Director, Infineon Technologies India and K Krishnamoorthy, Chairman, IESA in the presence of Andrew Chong, President, Infineon Technologies Asia Pacific andin the presence of MN Vidyashankar, President, IESA.

Speaking on the occasion, Andrew Chong said,“India is fast emerging as an important market for Infineon in the Asia Pacific region and also a promising location to develop innovative products and solutions for our global needs.”

Vinay Shenoy added, “The Start-up India initiative by the government of India taps into a vast talent pool and creativity available in India.We are glad to work with EP to explore potential collaborations in hardware and software or systems product development.”

Commenting on the partnership, K Krishnamoorthysaid,“India’s electronics system design and manufacturing (ESDM) market is expected to see rapid growth by 2020. With EP, weare building an ecosystem that fosters entrepreneurship and promotes innovationand growth.The support of Infineon through their CSR funds and International class of mentorship will have a multiplier effect on the incubatees thereby helping EP succeed.”

Sanjeev Chopra, CEO, Electropreneur Park said: “I appreciate the initiative taken by Infineon in supporting the incubation center for ESDM start-ups.  This initiative will take forward the support given by MNC’s to start-up ecosystem in India”

Infineon and IESA jointly agreed to collaborate strategically in support of the incubator initiatives in the EP organised by IESA. Infineon will support and contribute to the initiatives led by IESA through the sharing of semiconductor industry experience, knowledge and network with the start-up companies.Infineon will also provide an undisclosed amount of financial grant to IESA over a period of three years.