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

• NEW DELHI — 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.
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• The programme will connect companies with transformative innovations across domains such as advanced manufacturing, AI, IoT, energy efficiency, materials science, and more.
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• The ICEA launched Venture Access Labs -- a technology innovation access programme in collaboration with venture capital fund Caret Capital.

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