Best Place To BuildThe $8.5B question: Is India’s CHIP MISSION working? | Insider takes from Mindgrove Technologies CEO
CHAPTERS
Why semiconductors are suddenly “hot” in India (and why everyone’s watching)
The host opens with a big-picture question: why semiconductors have captured public attention and driven high viewership. Shashwath explains the mix of government push, rising strategic importance, and the reality that modern life (especially AI) runs on chips.
- •Government focus and media attention are accelerating interest in semiconductors
- •“Data is the new oil” framing: semiconductors as the refinery that makes data usable
- •AI progress is fundamentally constrained/enabled by semiconductor capability
- •Electronics are everywhere (cars, devices, infrastructure), making chips unavoidable for a growing economy
What counts as a semiconductor in real products (sensors, controllers, radios, displays)
They ground the conversation in practical examples of what “a chip” could be inside everyday systems. The discussion highlights that many devices combine multiple semiconductor functions rather than relying on a single component.
- •Examples: sensors, microcontrollers, ADC/DAC, transmit/receive/transceive chips
- •Semiconductors underpin nearly every electronic interaction in daily life
- •Most products integrate multiple chip functions into a system, not one isolated part
- •The shift from mechanical to “smart” subsystems (e.g., automotive features) increases chip demand
Mindgrove’s progress: from prototype to mass production and market availability
Shashwath shares what changed over the last year at Mindgrove and what’s coming next. He outlines the company’s timeline and explains how chips will be sold—first to direct customers, then via electronics distribution channels.
- •Company phase timeline: 2021 exploration → 2022 focus → 2023–24 prototype → 2025 go-to-market
- •Pilot deployments underway using prototype chips with selected customers
- •Bet placed on prototype readiness; mass production in progress
- •Expected availability: early 2026, including developer-friendly boards
- •Distribution model: direct sales + electronics marketplaces (Digi-Key, Mouser; India equivalents like Robu)
SecureIoT explained: a high-performance, security-focused microcontroller built on Shakti
They dive into Mindgrove’s first chip: a secure IoT microcontroller based on the Shakti core from IIT Madras’ RISC lab ecosystem. The key theme is why “high performance” now matters even for microcontrollers due to more sensors, more data, and tighter responsiveness expectations.
- •SecureIoT uses a Shakti core and builds on IITM’s ecosystem and security research
- •Performance needs have shifted upward as embedded systems handle more inputs/outputs
- •Clock speed is a proxy (GHz vs MHz), but architecture/hardware parallelism also matters
- •SecureIoT’s performance is framed as exceeding earlier personal computing experiences
- •Goal: fast, local processing for responsive devices (instant feedback expectations)
Security at the hardware level: biometrics, payments, and connected devices
The conversation shifts to why security features must be built into hardware for modern connected systems. Shashwath and the host discuss practical security stakes—from door locks and Aadhaar-like identity flows to payment devices and connected infrastructure.
- •Emerging trend: cryptography primitives “baked into hardware” (encryption, signing, etc.)
- •Connected systems increase risk (even vehicles and industrial systems can be attacked)
- •Use cases: biometrics/access control, Aadhaar-style identity, POS devices, soundboxes
- •Security must be fast and local—users won’t tolerate slow authentication loops
- •Hardware + performance together enable better user experience and stronger trust chains
India’s semiconductor momentum: funding signals and the first manufacturing layers coming online
Shashwath summarizes what he sees as meaningful ecosystem progress in India: new funding for chip startups and early-stage manufacturing capacity. He explains why assembly/packaging is the easiest manufacturing entry point and names major initiatives.
- •“Vote of confidence” via Indian business participation in semiconductor funding rounds
- •Growth in ambitious Indian chip efforts (including GPU-focused startups)
- •Manufacturing entry point: OSAT/packaging (chip die placed into plastic package + leads)
- •Examples mentioned: Micron, Tata (Assam), CG Power OSAT, Kaynes
- •Government schemes context: DLI (design incentives) and PLI (production incentives)
“Building for the middle” strategy: where innovation still exists (and where money can be made)
The host challenges the idea that non-cutting-edge chips can be innovative. Shashwath explains the “middle” as a deliberate strategy: low-end is tough for margins, high-end is dominated by giants, but mid-tier chips face evolving real-world requirements (e.g., faster, more secure biometrics).
- •Low-end: difficult economics; high-end: intense competition with incumbents
- •Middle market: changing requirements create recurring, practical innovation opportunities
- •Biometrics as example: existing solutions aren’t enough as throughput and security needs evolve
- •Process improvements (e.g., 28nm availability) enable new product possibilities versus a decade ago
- •Innovation framed as “problem moves, so you must solve again”
Convincing investors: aligning with the right thesis and using strategic guidance
They discuss fundraising skepticism: investors may prefer “frontier” AI chips, so how do you raise for mid-market semiconductors? Shashwath argues that investor alignment on volume and mass-market strategy is essential, and that investors also shape positioning decisions.
- •Key: find investors “on your wavelength” who understand volume and mass-market opportunity
- •Strategy and positioning refined in active dialogue with investors
- •Early support included IIT Madras; later investors include global and Indian funds (as mentioned)
- •Narrative: building sustainable business comes before chasing prestige of the cutting edge
- •Investor confidence grows with clear market, pilots, and production roadmap
Next product direction: secure, intelligent CCTV/camera chips and edge processing
Shashwath outlines the next chip: a camera/CCTV-focused product, driven by India’s security and data-sovereignty concerns. They discuss why pushing intelligence to the edge reduces bandwidth, improves privacy, and makes monitoring more effective than human-only control rooms.
- •CCTV emerged as a major Indian industry demand signal; government tightened security/certification expectations
- •Current market relies heavily on imports; scaling requires bringing core design capability in-country
- •Edge intelligence reduces constant upstream transmission (send alerts, not raw streams)
- •Goal: processing at the camera instead of central server-only analytics
- •Motivation: privacy/security + operational efficiency (no “one person staring for 8 hours”)
Do Indian chip giants have a chance? Industry churn, new entrants, and shifting winners
The host asks whether India can build a global microcontroller/microprocessor leader. Shashwath argues the semiconductor industry is defined by churn—today’s incumbents weren’t always dominant, and new market shifts repeatedly create openings for new winners.
- •Historical churn: startups become giants; giants miss transitions (e.g., Intel and mobile)
- •Competitive landscapes shift with new platforms and use cases (Qualcomm/MediaTek rise, Motorola fade)
- •India’s moment: companies are now attempting to become global-scale players
- •Success depends on meeting real industry needs, not just technological bravado
- •Mindgrove signals intent to move upward over time (including automotive eventually)
Electronics engineering, explained for Gen Z: “making electrons dance” (ultrasound example)
In a more educational segment, Shashwath explains what electronics engineers actually do using a concrete example from his early career—ultrasound systems. The core lesson: electronics bridges high-power actuation, fragile signal measurement, safety constraints, and signal-processing-to-image pipelines.
- •Poetic definition: electronics engineers “make electrons dance” to do useful work
- •Ultrasound pipeline: high-voltage drive → acoustic propagation → millivolt returns → imaging
- •Engineering challenges: precise timing, safety isolation, weak-signal measurement, noise handling
- •Work spans components, connectors, analog front-ends, and algorithms
- •Real-world constraints (parts availability, suitability) can force new design choices
From block diagrams to PCBs: how engineers turn chip capabilities into working systems
They interpret a chip block diagram and walk through how an engineer uses it to design a product. The discussion covers early prototyping methods, moving to PCB design, and how today’s ecosystem (open hardware + e-commerce) has democratized learning and building.
- •Block diagrams communicate what’s “on the chip” (cores, memory, interfaces, multimedia subsystems)
- •Engineers use block diagrams to evaluate fit and plan surrounding components on a board
- •Typical path: breadboard/prototype boards → schematics → PCB layout → manufacturing
- •Open hardware (Arduino/Raspberry Pi) and easier procurement accelerated rapid prototyping
- •Cultural shift: faster iteration and broader access, even if it changes “traditional” training
AI’s impact on electronics & chip design: smarter tools, copilots, and automation uncertainty
Shashwath describes AI’s effect as still unfolding, but emphasizes the broader trend: tools have become dramatically smarter. He gives examples from modern oscilloscopes and notes that VLSI already resembles software—so copilots may increasingly assist in design automation workflows.
- •Impact is early and unclear, but directionally positive for iteration speed
- •Tool evolution example: modern oscilloscopes analyze protocols and highlight issues automatically
- •VLSI design is already “programming CAD tools” rather than manually reasoning about billions of transistors
- •Copilots can learn from open hardware/code ecosystems and assist workflows
- •Leadership reality: he still tinkers, but production work is done by focused engineers
Skills to enter semiconductors: curiosity, fundamentals, tools, and resilience under long cycles
The host asks what it takes to enter semiconductors, including mid-career transitions. Shashwath emphasizes deep curiosity, fundamentals (devices and logic), tool fluency, and the emotional resilience to withstand long feedback loops and high-stakes failure modes.
- •Core soft skill: curiosity to learn a wide, complex domain quickly
- •Core hard skill: fundamentals of electronic devices (transistors, gates, analog components)
- •Tooling matters: understand EDA/toolchains and what’s happening “under the hood”
- •Mindset: willingness to fail, trial-and-error, and systematic debugging
- •Semiconductor cycles are long (months for fab), making perseverance and process discipline critical
Founder journey, IITM ecosystem access (even as a non-IITian), and closing reflections on fatherhood
Shashwath shares how Mindgrove emerged during the pandemic through conversations, market discovery, and encouragement from IITM’s Prof. Kamakoti and the Shakti ecosystem. They address whether non-IITians can build in IIT ecosystems, and close with reflections on integrating startup life with involved fatherhood.
- •Origin story: pandemic conversations, problem search, and committing to start in early 2021
- •Catalyst: Shakti ecosystem + guidance (“Use Shakti”) and realization of broader market demand
- •IITM support mechanisms: incubation, tool access, foundry pathways, network/funding exposure
- •Non-IITian participation: IIT values commercialization, student engagement, and collaboration
- •Fatherhood parallels: patience, long-term nurturing, and integrating work/life rather than strictly separating them
