Deep-tech startups, in essence, create new pathways by harnessing new knowledge within scientific or engineering disciplines and often so through interdisciplinary approaches. What sets them apart is that they do not rely on business models as moat and create and own intellectual property (IP) not easily replicable through existing technologies, making them pioneers in their fields.
Deep-tech startups work on breakthrough technologies that demand extensive research and development efforts. Securing funding for experimentation, prototyping, and testing is crucial for their success. The draft policy outlines several ways to improve funding for these entrepreneurs, ensuring they can thrive in a challenging landscape.
While the Startup India Initiative supported the creation and prevalence of startup companies in India, the Draft National Deep-tech Startup Policy 2023 calls for a thorough analysis of the deep-tech ecosystem, including sector-specific studies, to classify and standardise deep-tech startups. It is pivotal to extend the benefits to this specialised sector and increase their share of participation.
Notably, as of February 2023, out of the 92,683 entities registered startups in India, only 10,298 are deep-tech startups—just over 10%. This stark underrepresentation underscores the urgency of a dedicated policy for deep-tech startups—one that can amplify their role in India's innovation-driven economy.
The recent launch of the draft DeepTech policy is well-timed considering global tailwinds and our strenghts as a country.
The National Deep Tech Startup Policy 2023 has sent ripples across India’s innovation landscape. This forward-looking, visionary initiative marks a significant stride towards strengthening the ties between academia, startups, and industries.
the National Deep Tech Startup Policy 2023 is a watershed moment for India's innovation landscape. It instils confidence, unlocks opportunities, fosters collaboration, and empowers a new generation of deep-tech pioneers.
