Set up jointly by the Software Technology Parks of India (STPI) of the central government and the Karnataka government at a cost of Rs. 14 crores, the Semiconductor Measurement Analysis and Reliability Test (SMART) Lab has equipment to test, measure parameters and conduct failure analysis of chips.
"The lab will enable semiconductor firms to test chips and reduce the product design cycle and operational costs radically," Prasad said.
The lab will function from the premises of Tessolve Semiconductor Ltd., which is the operating partner, located in the electronics city's second phase.
Prasad also laid the foundation stone for the STPI's new incubation facility in the electronics city in the presence of state IT Minister S.R. Patil and officials.
The incubation facility, to be built at a cost of Rs. 60 crores, will have a data centre and a finishing school to hone skills of entrepreneurs to float startups.
"STPI has played a key role in creating 'Brand India' and transforming the country as most preferred IT destination," Prasad said.
The state-run technology parks played a critical role in promoting tier-2and tier-3 cities across the country and facilitated IT firms to accelerate exports to Rs. 2,73,000 crores in last fiscal (2013-14) from a mere Rs. 52 crores over two decades ago (1992-93).
"The Indian IT industry is transiting from software services to product development in which our STPI centres are playing a vital role in meeting the sector's needs with the help of state governments and academia," Prasad said.
Of the 53 STPI centres, 46 are in tier-2 and tier-3 locations across the country, with a view to developing IT and IT-enabled services sector and drive exports further.
"We have been supporting startups through our incubation programme, which provides plug-n-play office space, marketing assistance and mentoring support," STPI director-general Omkar Rai said.
Prasad is in Bengaluru to attend the BJP's national executive committee meeting, which got underway in the city earlier in the day.