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Key Points

The India Cellular and Electronics Association (ICEA) has unveiled a new initiative aimed at enhancing tech and AI innovation across India's manufacturing sector. In collaboration with venture capital fund Caret Capital, they have launched Venture Access Labs to connect Indian manufacturers with global technology advancements. This program is set to empower manufacturers by introducing diverse innovations like IoT and energy efficiency to increase competitiveness. ICEA Chairman Pankaj Mohindroo emphasized how this initiative will help position India as a global hub for electronics and manufacturing.

Key Points: ICEA Launches Initiative to Boost Tech and AI in Manufacturing

  • ICEA partners with Caret Capital for tech innovation
  • Venture Access Labs to connect global AI to India
  • Aims to booster Indian manufacturing competitiveness
  • Support for procurement, planning, and supply chain functions
2 min read

ICEA launches industry-wide initiative to foster tech and AI innovation

ICEA and Caret Capital team up to revolutionize Indian manufacturing with global tech and AI innovation.

"Through Venture Access Labs, ICEA is proud to champion and unlock global innovation. - Pankaj Mohindroo"

New Delhi, June 3

The India Cellular and Electronics Association (ICEA) on Tuesday announced a unique industry-wide initiative to collaboratively foster tech and AI innovation for the benefit of India's manufacturing sector.

The programme will connect companies with transformative innovations across domains such as advanced manufacturing, AI, IoT, energy efficiency, materials science, and more.

The ICEA launched Venture Access Labs -- a technology innovation access programme in collaboration with venture capital fund Caret Capital.

This initiative aims to empower India's electronics and appliances manufacturing companies by enabling them to discover, curate, and adopt cutting-edge technologies and innovations from across the world.

"Through Venture Access Labs, ICEA is proud to champion and unlock global innovation to strengthen India's position as a global hub for manufacturing and electronics with a vision to build Indian Champions," said Pankaj Mohindroo, Chairman, ICEA.

"By opening the door to international technological advancements and building an innovation pipeline, we aim to accelerate India's electronics manufacturing capabilities and global competitiveness so as to capture a larger global market share," he added.

The comprehensive programme will cover several functions including procurement, planning, manufacturing, supply chain, finance, HR, legal and ESG.

Through this programme, companies will benefit from innovation trend spotting, curated access to high-impact startups and Ips, strategic matchmaking and pilot opportunities, tailored adoption pathways for new technologies, and facilitated investments in strategically relevant, vetted high-potential startups.

"It is time for the Indian electronics and appliances manufacturing to transit to tech first-led global leadership," said Salil Kapoor, Co-founder and Chief mentor of Venture Access Labs.

It will be the innovation catalyst and partner, scanning and curating the latest tech and game-changing startups from across the world for Indian manufacturing companies to engage with, at a fraction of the cost if they were to do it on their own," he mentioned.

- IANS

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Reader Comments

R
Rahul K.
This is exactly what India needs to compete globally in manufacturing! 🇮🇳 The focus on AI and IoT will help our factories become more efficient. Hope this initiative reaches small and medium enterprises too, not just big corporations.
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Priya M.
Great initiative but I worry about implementation. We've seen many such announcements before. Will this actually reach manufacturers in tier 2/3 cities? Also, what about protecting Indian startups - hope foreign tech doesn't overshadow our own innovators.
A
Arjun S.
Finally some concrete steps towards 'Make in India' 2.0! The inclusion of ESG shows forward thinking. Our manufacturing sector needs to be sustainable while growing. Kudos to ICEA for this holistic approach 👏
S
Sneha P.
As someone working in electronics manufacturing, this gives me hope! The energy efficiency focus is much needed - our power costs are killing competitiveness. Hope they prioritize practical solutions over flashy tech.
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Vikram J.
Good move but government should ensure this doesn't become another bureaucratic exercise. Need quick decision making and actual adoption on ground. Also, what about skill development for workers to handle these new technologies?
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Neha T.
Exciting times for Indian manufacturing! 🤩 The strategic matchmaking with startups is brilliant - can help bridge the gap between innovation and industry. Hope they include women-led startups in this initiative too!

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