Speaking at the launch of the platform, the minister of state for electronics and information technology Rajeev Chandrasekhar said that the Digital India Future Labs would serve as a platform for partnerships and strategic direction in these areas.
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“The funding (for the platform) will come from MeitY’s (ministry of electronics and information technology) R&D budget, the R&D budget of various other labs and the larger Rs 1 lakh crore that the government of India has provided,” Chandrasekhar said.
The Centre for Development of Advanced Computing (C-DAC) in India will be the nodal agency to develop the overall plan, standard operating procedures and guidelines for startups and other private sector companies working in this space.
In the automotive space, for example, the Digital India Future Labs will focus on R&D and industry-government collaboration to develop electric vehicles, onboard sensors, and autonomous connected devices. For computing, the focus shall be on R&D in high-performance, quantum, and exascale computers, indigenous microprocessors, accelerators, and blockchain, among others.
“Funding for startups which are involved in the Future Labs innovation ecosystem can come in many different ways, including the funds allocated by the central government as a part of its budget for R&D,” Chandrasekhar said.
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Though refusing to comment on the Paytm issue directly, Chandrasekhar said that being a fintech or a tech company did not absolve or put any company above the sectoral regulator, which in this case is the Reserve Bank of India.
Speaking at the launch of the platform, the minister of state for electronics and information technology Rajeev Chandrasekhar said that the Digital India Future Labs would serve as a platform for partnerships and strategic direction in these areas.
Elevate Your Tech Prowess with High-Value Skill Courses
| Offering College | Course | Website |
|---|---|---|
| IIM Lucknow | IIML Executive Programme in FinTech, Banking & Applied Risk Management | Visit |
| MIT | MIT Technology Leadership and Innovation | Visit |
| Indian School of Business | ISB Professional Certificate in Product Management | Visit |
“The funding (for the platform) will come from MeitY’s (ministry of electronics and information technology) R&D budget, the R&D budget of various other labs and the larger Rs 1 lakh crore that the government of India has provided,” Chandrasekhar said.
The Centre for Development of Advanced Computing (C-DAC) in India will be the nodal agency to develop the overall plan, standard operating procedures and guidelines for startups and other private sector companies working in this space.
In the automotive space, for example, the Digital India Future Labs will focus on R&D and industry-government collaboration to develop electric vehicles, onboard sensors, and autonomous connected devices. For computing, the focus shall be on R&D in high-performance, quantum, and exascale computers, indigenous microprocessors, accelerators, and blockchain, among others.
“Funding for startups which are involved in the Future Labs innovation ecosystem can come in many different ways, including the funds allocated by the central government as a part of its budget for R&D,” Chandrasekhar said.
Discover the stories of your interest
Though refusing to comment on the Paytm issue directly, Chandrasekhar said that being a fintech or a tech company did not absolve or put any company above the sectoral regulator, which in this case is the Reserve Bank of India.