Project Outcomes
India’s hardware entrepreneurship landscape faces significant challenges but holds vast potential for growth and innovation. Limited access to funding, infrastructure gaps, and a fragmented ecosystem have long hindered the sector. However, the landscape is rapidly evolving with an increasing focus on social impact and technology-driven entrepreneurship. Hardware investments have surged from 0.6% between 2014 and 2020 to 11% in 2023. To address these challenges and unlock new opportunities, ASME, in partnership with Engineering for Change (E4C), embarked on this project to strengthen India’s hardware innovation ecosystem and amplify its social impact.
The project’s objective was to develop a strategy for ASME India to support the growth of social innovation and hardware entrepreneurship. The project focused on three key tasks: developing a strategy for AIPL to expand its regional focus; creating actionable programmatic strategies for ASME India Pvt. Ltd. (AIPL) to bridge gaps in the hardware ecosystem; and mapping potential funders in India who could support future ASME programs. These efforts are part of a broader, three-year research and strategic planning initiative funded by The Lemelson Foundation.
The groundwork for this project involved analyzing entrepreneurship funding trends and examining how regional entrepreneurship hubs are emerging. This analysis informed a three-tiered strategy for AIPL, which included developing national programs for wider outreach, strengthening partnerships in mature startup regions, and establishing foundations in emerging hubs. This strategy will help localize ASME’s global programs—such as ISHOW and IdeaLab—in India and enhance support for hardware entrepreneurship.
Key deliverables included a strategy for localizing ASME’s global innovation programs in India, developing new programmatic interventions to strengthen regional ecosystems, and creating a funder database to guide collaboration and partnership opportunities for ASME India. These deliverables will help AIPL expand its support for hardware innovators, promote social impact, and foster a culture of sustainable, technology-based entrepreneurship across the country.
Key objectives achieved during the project (By, Tanmay Nag)
