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Indian Government to strengthen the deep tech startup ecosystem

Ago, 02, 2023 Hi-network.com

The Indian government, through the National Deep Tech Startup Policy (NDTSP) Consortium, has released a draft policy for public consultation until September 15, 2023. This policy proposal is a result of the Prime Minister's Science, Technology, and Innovation Advisory Council's (PM-STIAC) recommendation to strengthen the deep tech startup ecosystem in the country. Its main purpose is to support early-stage deep tech startups in fields like AI, robotics, quantum, and IoT.

The policy outlines a comprehensive nine-point program such as:

  • Nurturing research, development and innovation
  • Strengthening the intellectual property regime
  • Facilitating access to funding
  • Enabling shared infrastructure and resource sharing
  • Creating conducive regulations, standards, and certifications
  • Attracting human Resources and initiating capacity development
  • Promoting procurement and adoption
  • Ensuring policy and program interlinkages
  • Sustaining deep tech startups

Institutes like IIT Madras have been proactive in promoting deep tech startups, incubating over 300 ventures, with an impressive 82% survival rate beyond the initial five years. These startups have achieved a cumulative valuation of$4.6 billion.

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