Electronics Development Fund (EDF) policy

As part of the “Digital India” agenda of the Government, it is envisaged to develop the Electronics System Design and Manufacturing (ESDM) sector to achieve “Net Zero Imports” by 2020. Setting up of Electronic Development Fund (EDF) is one of the important strategies which would enable creating a vibrant ecosystem of innovation, research and development (R&D) and with active industry involvement. It is with this objective that an Electronic Development Fund (EDF) is set up as a “Fund of Funds” to participate in professionally managed “Daughter Funds” which in turn will provide risk capital to companies developing new technologies in the area of electronics, nano-electronics and Information Technology (IT). The EDF will also help attract venture funds, angel funds and seed funds towards R&D and innovation in the specified areas. It will help create a battery of Daughter funds and Fund Managers who will be seeking good start-ups (potential winners) and selecting them based on professional considerations.

Target Beneficiaries:

Any Daughter Fund which is registered in India and abides with relevant rules and regulations applicable to such Funds, including SEBI regulations on Venture Funds and is set up to achieve the objectives mentioned above will be eligible for support from the EDF.

Fund Manager:

CANBANK Venture Capital Funds Ltd. (CVCFL) http://www.canbankventure.com/ is the Fund Manager for EDF. The role of the Fund Manager of EDF is to consider requests from applicant Venture Funds, Angel Funds and Seed Funds and make recommendations to the Department of Electronics and IT, Government of India. The CVCFL will also be participating in the individual beneficiary Daughter Funds based on the approval of the Department of Electronics and IT.

Time Lines:

The requests for seeking participation by EDF in any Venture Fund, Angel Fund or Seed Fund must be made on or before 31.03.2017

Contact Details:
CVCFL

Shri S. Thiruvadi, MD, CVCFL, md@canbankventure.com. Fax: +91-80- 25583909

­Shri P. Sitaram, Executive Vice President, CVCFL, sitaramp@canbankventure.com
DeitY
Shri Prashant Kumar, Scientist-‘D’ prashant@deity.gov.in

Electronic Development Fund (EDF) to be set up as a “Fund of Funds” to participate in “Daughter Funds”

As part of the “Digital India” agenda of the Government, it is envisaged to develop the Electronics System Design and Manufacturing (ESDM) sector to achieve net zero imports by 2020. Setting up of EDF is one of the important strategies which would enable creating an electronics industry ecosystem in the country in this regard.

Creating a vibrant ecosystem of innovation, research and development (R&D) and with active industry involvement is essential for a thriving electronics industry. It is with this objective that an Electronic Development Fund (EDF) is proposed to be set up as a “Fund of Funds” to participate in “Daughter Funds” which in turn will provide risk capital to companies developing new technologies in the area of electronics, nano-electronics and Information Technology (IT).

Assuming that the average participation of EDF in Daughter Fund is 25%, the policy will help leverage four times Government funding in the area of R&D and innovation. It will help create a battery of Daughter funds and Fund Managers who will be seeking good start-ups (potential winners) and selecting them based on professional considerations.

The policy provides a framework where the decision to support R&D is based on market conditions and through industry professionals well versed with industry requirements.

Download policy.

Nominations open for IESA Technovation Awards 2014‏

The primary objective of the awards is to “Celebrate Excellence in ESDM” by bringing visibility and public recognition for the 

Winners who are doing trailblazing work and making noteworthy contributions as part of the Electronics and Semiconductor
industry. 

Award categories:
Technovation Sarabhai Award : for outstanding contributions by an Individual leader to Indian semiconductor or electronics industry.

Most Promising Startup: The winner will be a compelling Electronics or Semiconductor product or IP start-up.

Most Innovative Product: The winner will be most innovative Semiconductor or Electronics product.

Contact: Debanjan Sinha at tv@iesaonline.org / +91-80-41473250

last date: 7th November 2014