Bengaluru Tech Summit: MoU signed to provide comprehensive support to start-ups
Bengaluru: Karnataka Digital Economy Mission (KDEM) in collaboration with India Electronics and Semiconductor Association (IESA), NASSCOM, and ASSOCHAM (Associated Chambers of Commerce and Industry of India) announced the SFAL and Kaynes Semicon Partnership in Karnataka.
As per the MoU, all SFAL affiliated 33 plus startups are poised to receive comprehensive support, marking a commitment to foster their growth and innovation.
The partnership guarantees vital resources and strategic guidance, enabling these startups to thrive within the burgeoning tech environment of Karnataka.
They will be supported by Kaynes Technology at differential prices. Established as a Center of Excellence (CoE) by the IT Ministry, SFAL plays a pivotal role in nurturing the growth of the tech ecosystem.
K. Sridhar, CEO of Semiconductor Fabless Accelerator Lab (SFAL), and Raghu Panicker, CEO of Kaynes Semicon, signed a memorandum of Understanding (MoU).
The collaboration between Kaynes and SFAL is aimed at expanding this ecosystem within Karnataka.
A notable outcome of this partnership is the facilitation of on-site assembly, testing, and packaging (OSAT) activities within the state, which were previously conducted elsewhere.
This strategic move is set to benefit local startups associated with SAFL, enabling them to fabricate their products more efficiently.
A significant highlight of the agreement includes the slated rollout of the first production line by April 2024, marking a tangible manifestation of the collaborative efforts between SFAL and Kaynes Semicon.
Sanjeev Gupta, CEO, KDEM stated: “Through strategic partnerships like the one between SFAL and Kaynes Semicon, we’re amplifying Karnataka’s tech ecosystem. This collaboration will drive local startup growth by bringing critical OSAT activities to the state, fostering innovation and efficiency. The success of ‘Beyond Bengaluru’ clusters showcases our commitment to creating a thriving, inclusive tech landscape.”
