Cadence Design System expects growth of Indian electronic and semiconductor startups to boost its organic business in the country.
Cadence Design System, the electronic design automation software company, which garners more than three-fourth (80%) of its revenue from services offered to India offices of multinational chipmakers such as Intel, looks to tap Indian semiconductor product startups, reported Economic Times.
Jaswinder S Ahuja, managing director, Cadence Design Systems India, pointed out that the remaining (20%) business comes from three categories – government and defence labs, services companies, and Indian semiconductor product startups—and an increased focus on the product startup ecosystem could spur growth for the sector.
Cadence, which invests 40% of its revenue in research and development, employs nearly 2,000 people across four cities in India. Since 2017, the company filed 213 patents from India, and out of them, 113 have been granted so far. The software services provider to chipmakers believes home-grown companies in semiconductor industry are few in India and it has been facilitating incubation for such firms.
