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Infineon Enters into Agreement with NITI Aayog's Atal Innovation Mission

Infineon Technologies India Pvt. Ltd. (4:20PM) 

Business Wire India

Infineon will share design, manufacturing experiences and knowledge in semiconductor systems in support of Atal Innovation Mission (AIM), a flagship programme of the Government of India. To this purpose, Infineon Technologies AG and AIM of NITI Aayog have signed an agreement today. It aims at encouraging innovation and entrepreneurship amongst innovators, incubators and start-ups.

Infineon will provide mentoring support, workshops and training sessions to specific start-ups incubated under Atal Incubation Centers and Established Incubation Centers supported by AIM. Infineon will also look into support for Atal Tinkering Labs. Vinay Shenoy, Managing Director of Infineon India and Ramanathan Ramanan, Mission Director of AIM at NITI Aayog, signed the agreement in the presence of Infineon's CEO Reinhard Ploss and the CEO of NITI Aayog, Amitabh Kant.

"We are happy to support a vibrant entrepreneurial ecosystem in India to develop technology based innovation in order to solve societal challenges in the areas of energy security, energy efficient mobility and secure digital citizen programs," said Reinhard Ploss.

Commenting on the partnership, Amitabh Kant said, "India's growth for the next few decades will come from startups, who will disrupt industries and sectors with new technologies and processes. We are delighted to have Infineon partner with us for supporting innovative startups through NITI supported Incubators."

Infineon's Vinay Shenoy added, "We are working with NITI Aayog's AIM, and sharing knowledge and practical experience with start-ups and the entrepreneur community in order to nurture budding talents whose ideas could be the seeds of future growth."

Ramanathan Ramanan further added: "International partnerships are a win-win situation for AIM and its partners. This partnership shall help the supported innovations from the ATLs and Incubators in deploying their innovations in the international market quickly and efficiently. Infineon shall also be able to support selective startups in their specific areas of interest."

According to the Statement of Intent, Infineon and NITI Aayog's AIM will jointly collaborate to foster platforms where innovative ideas flourish and entrepreneurs are supported and mentored as they build scalable and sustainable enterprises, particularly in technology driven areas.

About Atal Innovation Mission, NITI Aayog

Atal Innovation Mission, NITI Aayog (AIM) is Government of India's flagship initiative to promote a culture of innovation and entrepreneurship in the country. AIM's objective is to develop new programmes and policies for fostering innovation in different sectors of the economy, provide platform and collaboration opportunities for different stakeholders, create awareness and create an umbrella structure to oversee innovation ecosystem of the country. AIM's flagship schemes include establishing Atal Tinkering Labs and Atal Incubation Centers, providing scaling up support to Established Incubation Centers, and finding ultra-low cost solution to India's most intractable problems through Atal Grand Challenges and Atal New India Challenges.

NITI Aayog is the premier policy 'Think Tank' of the Government of India, providing both directional and policy inputs. While designing strategic and long term policies and programmes for the Government of India, NITI Aayog also provides relevant technical advice to the Centre and States.About NITI Aayog

About Infineon

Infineon Technologies AG is a world leader in semiconductor solutions that make life easier, safer and greener. Microelectronics from Infineon is the key to a better future. In the 2017 fiscal year (ending 30 September), the Company reported sales of around €7.1 billion with about 37,500 employees worldwide. Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the over-the-counter market OTCQX International Premier (ticker symbol: IFNNY).

Further information is available at www.infineon.com

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Infineon Technologies AG, Chi Kang David Ong,
Infineon Technologies India Pvt. Ltd., Dr.Mamta Pant Abichandani,

Munich, Germany & New Delhi, Delhi, India

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