India, July 29 -- India's electronics sector has witnessed a remarkable transformation in recent years, driven by a series of Government initiatives and industry reforms.

The country is steadily emerging as a global hub for electronics system design and manufacturing. The Electronics Development Fund (EDF) was one of the initiatives of the Government of India, to promote market driven innovation in Electronics System Design and Manufacturing (ESDM).

The EDF was set up as a Fund of Funds, designed to invest in professionally managed Daughter Funds which are SEBI registered venture funds. These Daughter Funds provided risk capital to startups and companies developing new technologies in the area of ESDM and Information Technology (IT).

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