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Ministry Revises The Definition Of Startups

Union minister, Suresh Prabhu informs that the ministry has altered the definition of startups.
BY BEx Bureau
BusinessEx
Feb 19, 2019

On Tuesday, Hero Electronix, an electronic venture of Hero group, proclaimed that it has set up a semiconductor chip design centre in Bengaluru. The centre is primarily initiated by Hero groups acquired company, Tessolve. Tessolve is an engineering solution company and was acquired by Hero group in 2016.

Prioritizing The Needs Of Clientele

The primary cause of setting up the chip centre is to meet the requirements of Tessolves clients. The clientele of Hero groups subsidiary business comprises of global semiconductor companies which render strong impulsion to the chip design offerings as mentioned in the companys statement.

P Raja Manickam, Tessolve Founder and CEO, said "It is an important milestone for the Tessolve team in our journey to become a chip design leader and is followed by the acquisition of Analog Semiconductors a year back to strengthen our analogue design capabilities. as reported by ET news.

The founder further added that the centre will help to reinforce the automotive companys capabilities as an end-to-end solutions partner and semiconductor engineering services leader.

The automotive company made a statement adding that Bengaluru centre will work in close association with Tessolve's other design centres to develop innovative chip solutions across verticals -- automotive, server, graphics and mobile platforms, as reported by ET news.

A Startup To A Multimillion Company

Tessolve Semiconductor, which is presently procured by Hero Group, is originally a startup organization. The startup was initiated in 2004 and within a span of 10-11 years, it gleamed and grew manifold. The company was founded by P. Raja in 2004 and owing to first-rate engineering solutions, the company become renowned. The biggest turn in the entrepreneurial journey had come when Hero Group sought interest in Semiconductor enterprise and later, procured its shares. Gradually, Hero Group incremented its stake in a steady way and later, become the major stakeholder of the engineering company.

In April 2016, Hero Group begun its investing course in the engineering firm which steadily transformed into an official acquisition of Tessolve Semiconductor. In the following time, Tessolve Semiconductor merged with Hero Groups electronic branch named Hero MotoCorp.

Tessolve Semiconductor, the engineering firm, is based in Bengaluru. The company renders chip solutions, hardware solutions, software solutions and embedded solutions.

What Had Enticed Hero Group Towards The Engineering Firm, Tessolve Semiconductors?

Hero Group is a renowned firm in the domestic market. Back in 2016, Hero Electronix was an emerging electronic and technology arm of Hero Group in the digital sector. The effective tools and engineering services of Tessolve Semiconductors drew industrialists attention and the engineering firm soon became a partner of Hero Electronix. The engineering firm has been deemed highly experienced in developing test/product engineering, PCB designs, semiconductor design and systems design.

The expertise of the engineering firm helped Hero Electronix to become a major player in the digital sphere, as mentioned at HeroElectronix website.

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