Indian Government to strengthen the deep tech startup ecosystem
India’s National Deep Tech Startup Policy (NDTSP) draft released for public consultation until September 15, 2023. It aimis to strengthen deep tech startups, the policy focuses on research, funding, and shared infrastructure.
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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