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STMicroelectronics to Boost Technology Innovation in Rural India

STMicroelectronics to Boost Technology Innovation in Rural India
New Delhi /
STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, today announced a strategic cooperation with India’s National Innovation Foundation (NIF) under the aegis of the Department of Science and Technology, Government of India, to support technological innovation in remote areas of India and create a marketplace for the result of that innovation.

The close relationship with ST will help NIF and other network members convert technological inventions conceived within the 'Honey Bee' network of like-minded individuals, innovators, farmers, scholars, academicians, policy makers, entrepreneurs, and NGOs, into the mainstream business.  Honey Bee collects ideas from all over India through a drive called Shodh Yatra ("search trip") and brings rural innovation to light to help mankind, besides mobilizing ideas of technology students from hundreds of colleges across India through techpedia.in.

Through this unique relationship, NIF will emphasize complete product development, while ST will validate and develop electronic solutions for some of the innovative ideas and convert them into value-added technologies/products that can potentially make a difference to the masses.

Speaking on the occasion, Prof. Anil Gupta, Founder and Executive Vice Chairperson at NIF, said: "One of the challenges ahead of us is to democratize design thinking and innovation to generate interesting electronics applications from the grassroots levels and make them marketable. The partnership with STMicroelectronics is set to become a tour-de-force creating links and synergies from 600 districts of India to the global marketplace. This partnership will aim to move backyard inventions beyond the crude prototype stage and to further enhance innovations across the country by creating networks of electronic excellence."

"Our effort with the National Innovation Foundation is in line with ST’s culture of community-spiritedness – equipping local communities with the skills required to succeed in today's knowledge-based economy. This gives us a great opportunity to support and incubate grassroots innovations with a focus on encouraging future-oriented, trend-spotting electronics designs that, ideally, serve the nation and world at large" said Vivek Sharma, Regional Vice President, Greater China and South Asia Region - India Operations, Director India Design Centers, STMicroelectronics.

STMicroelectronics and the National Innovation Fund urge talent to come across geographical barriers and encourage formation of innovation clusters across the country.

About STMicroelectronics

ST is a global leader in the semiconductor market serving customers across the spectrum of sense and power technologies and multimedia convergence applications. From energy management and savings to trust and data security, from healthcare and wellness to smart consumer devices, in the home, car and office, at work and at play, ST is found everywhere microelectronics make a positive and innovative contribution to people's life. By getting more from technology to get more from life, ST stands for life. augmented

In 2013, the Company’s net revenues were $8.08 billion. Further information on ST can be found at www.st.com.

About National Innovation Foundation-India (NIF)

STMicroelectronics to Boost Technology Innovation in Rural IndiaNIF was established on 1st March, 2000 with the help of The Department of Science and Technology, Government of India to provide institutional support in scouting, spawning, sustaining and scaling up grassroots green innovations and help their transition to self-supporting activities, and help India to become innovative and creative society and global leader in sustainable technologies. Over these years NIF has set up systems and procedures that help in sustaining grassroots innovations. NIF has also maintained its interest in developing valuable market linkages so that certain innovations that have the potential to perform in the commercial market space can be seen through.

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