ICEA launches Venture Access Labs to drive innovation in the Indian manufacturing sector

The India Cellular & Electronics Association (ICEA) has launched Venture Access Labs, a first-of-its-kind technology innovation access program in partnership with venture capital firm Caret Capital.

The initiative aims to bridge the gap between Indian electronics and appliances manufacturers and cutting-edge global technologies, with a focus on enhancing competitiveness, efficiency, and scalability across the sector.

Venture Access Labs is an industry-wide program designed to help Indian manufacturing companies discover and adopt emerging technologies from around the world. These include advancements in artificial intelligence (AI), the Internet of Things (IoT), advanced materials, energy efficiency, and smart manufacturing. The goal is to give Indian companies a stronger technological foundation, enabling them to compete on a global scale.

ICEA, the apex body representing India’s electronics manufacturing ecosystem, is leading the program, while Caret Capital brings its expertise in venture ecosystems and global tech scouting. Together, they aim to provide manufacturers with structured access to innovations that are strategically aligned with their business needs.

The program will be rolled out across India, targeting companies operating in the electronics and appliances manufacturing sectors. Through a centralised platform, participating companies will be connected with startups and technology providers worldwide.

The initiative comes at a time when India is rapidly advancing its position as a global manufacturing hub. With the country eyeing a USD 10 trillion economy in the coming years, the program is expected to play a vital role in helping manufacturers stay ahead of global trends, increase exports, and create new employment opportunities.

Venture Access Labs will function as a curated platform offering:

• Access to global innovation trends

• Opportunities to connect with high-impact startups

• Pilot programs with emerging tech solutions

• Customised technology adoption roadmaps

• Investment facilitation in strategically relevant ventures

The platform is structured to support multiple business functions, including manufacturing, supply chain, procurement, planning, finance, legal, HR, and ESG.

This is India’s first organised, sector-wide innovation access program aimed at directly linking domestic manufacturing with global startup ecosystems. By lowering the cost and complexity of innovation scouting, the program promises to democratise access to transformative technologies and accelerate industry modernisation.

ICEA is inviting its member companies to actively participate in the program and leverage it as a strategic tool to stay ahead in an increasingly competitive global market.

Venture Access Labs could mark a turning point for India’s electronics and appliances manufacturing sector, positioning it not just as a cost-effective alternative to global supply chains but as a tech-forward, innovation-driven powerhouse.