Try in public sectors like ITI,BHEL(vlsi division) ,BEL and BEL-CRL. Out of all these BEL-CRL is Best. IISC is good option. You need patience to complete the project.
U need to go to ECE/VLSI departments in IISC and look for the professors to get a project. once u get a project inside the campus, your lucky in the career.
Other options are try through your professor. Thats the best one. In which college you are pursuing Mtech in VTU?.
If you have very good academic record, Lucent technologies , Cypress semiconductors,TI will support your projects.
Regards,
Sam