The IoT sector in India has been witnessing disruptive growth for almost half a decade now. India’s Department of Electronics and Information Technology (DeiTY) has published a draft IoT policy document to ensure the country captures a 5 to 6% share of the potential $15 billion global market by the end of next year. The IoT market in India is projected to grow at a CAGR of more than 28% during the years 2015-20.
On 3 December 2019, the Software Technology Parks of India (STPI) proposed an IoT OpenLab in Bengaluru. This IoT OpenLab CoE will be the second-of-its-kind in the world after Hong Kong, with the objective of creating a technology platform for enabling innovative startups to develop IoT-based applications, products, and solutions which will serve both the domestic needs and the global perspective.
IoT OpenLab will focus on creating an ecosystem based on R&D, innovation and product development in IoT-focussed sectors such as defence, aeronautics, agriculture, health, automobile and education.
Analytics India Magazine caught up with Dr Omkar Rai, Director General at STPI, Ministry of Electronics and Information Technology to gain more insights into the current scenario as well as launching the IoT OpenLab.
About IoT OpenLab
Rai reiterates that a lot of research around IoT is going on in Bangalore and this is where the purpose of IoT OpenLab CoE emerges. The CoE will help the enthusiasts with laboratories, infrastructures and mentoring-support ecosystems to create interesting products out of their ideas. The lab will act as an incubator which will also provide help to the associates from all across the country.
The CoE aims to support over 500 startups over a period of 5 years and each year around 10 startups will be hosted within the premise. The rest of the startups will be able to get associated and use the facilities and laboratories. The CoE is proposed to be operational for five years from the date of its launch and the overall budget of this project is INR 11.47 crore over a period of 5 years.
When asked how AI and ML will integrate with IoT, Rai replied that AI is about data and analytics. The IoT devices generate the data which is received by AI systems to perform predictions. There has been a lot of research around AI and ML and the reason behind this is the availability of a huge number of real-time data which can be only availed with the help of IoT.
Who Can Use The CoE
As this CoE has the characteristics of openness, this lab will not only be availed for the startups but also it will be availed for the students and the enthusiasts who will be interested in understanding the ecosystem. However, there will be certain rules and manners that one has to follow.
STPI is also opening 21 more CoEs across the country. Of the 21 CoEs, three are already functioning in Delhi, Chennai and Mohali, and the rest will be operational in the next two years.
Currently, India is a hub of thousands of tech-startups. The initiatives by angel investments and Governments have been investing huge amounts of money for the welfare of the startups. The opportunity is very high in the present scenario, with the vibrant ecosystem, professionals and the mentors collaborating with one another. If anybody wants to become an entrepreneur or if they have any idea of a product or have any solution, then it is high time to get support in all possible ways.