The right steps are already being taken, experts say. It’s now time to accelerate implementation and improve the outcomes
Notable commitments to foster the deep tech ecosystem in the country include investments via the Government of India’s Rs10,000 crore startup fund of funds and a Rs50,000 crore plan approved last year for a national research foundation.
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In recent years, the union government has specifically called out India’s deeptech sector as an important area of focus, strategically critical to the country’s long-term economic growth and geopolitical standing.
Notable commitments to foster the deep tech ecosystem in the country include investments via the Government of India’s Rs10,000 crore startup fund of funds and a Rs50,000 crore plan approved last year for a national research foundation. The government has also released a comprehensive national deeptech startups policy.
In the interim budget in February, Finance Minister Nirmala Sitharaman proposed a Rs100,000 crore corpus to invest in “sunrise technologies to strengthen deeptech in defence and expedite atmanirbharta [self-reliance].”
“The government is already taking the right steps and making the right fund allocations,” says Mredul Sarda, an alumnus of the Indian Institute of Technology (IIT) Bombay, who, after several years in the tech industry, has recently started a deeptech focused venture capital firm called Riceberg.vc, with two fellow partners.
Collectively, this trio brings deep experience in areas including software, health care technologies and cybersecurity to their firm. They are also an example of how India’s deep tech ecosystem is developing.