Govt clears 12 Indian start-ups for incentives under chip design plan

The Ministry of Electronics and IT (MeitY) has approved chip design related proposals from at least 12 Indian start-ups and has committed more than Rs 130 crore to their projects, which span from developing integrated circuits for telecommunication applications, to artificial intelligence (AI) hardware accelerators, The Indian Express has learnt.

In total, the approved projects will cost Rs 342 crore, and the Centre has committed close to Rs 133 crore towards them. So far, the government has released a little more than Rs 7 crore.