Nurturing Innovation: National Deep Tech Startup Policy
Science & Technology
13th Jan, 2024
In pursuit of fostering innovation and technological advancement, the Principal Scientific Adviser to the Government the draft National Deep Tech Startup Policy (NDTSP) will be put for Cabinet Approval soon.
- The term 'Deep Tech' refers to advanced and sophisticated technologies that have a significant impact on various industries.
- These technologies, including AI, robotics, nanotechnology, quantum computing, biotechnology, and renewable energy solutions, are characterized by their complexity, innovation-driven nature, and the need for interdisciplinary collaboration.
Need for National Deep Tech Startup Policy (NDTSP):
- The draft policy addresses the challenges in funding deep tech startups, highlighting that unlike startups in fintech or retail software, deep tech startups require significantly larger funding.
- Global Advocacy and Trade Policy Alignment
- The NDTSP advocates a coordinated, comprehensive strategy to engage with international partners and multilateral institutions to foster a supportive global environment for India's deep tech ecosystem.
- The draft policy addresses the lack of a precise definition for 'deep tech' by emphasizing its complexity and reliance on new scientific breakthroughs.
- It distinguishes deep tech startups from others by focusing on those that have developed intellectual property promising substantial impact, based on novel scientific advancements.
- The policy refers to Startup India's database, revealing that out of 10,298 recognized startups, only around 10% fall under the 'deep tech' category.
- This indicates the need for concerted efforts to boost the presence and impact of deep tech startups in India.
Objectives of NDTSP:
The NDTSP aims to secure India's position in the global deep tech value chain. It focuses on areas such as semiconductors, Artificial Intelligence (AI), and space tech. Key objectives include:
- Focus on Fundamental and Technical Problems: Prioritize support for deep tech startups addressing fundamental and technical challenges.
- Financing Support: Address critical financing needs during the pre-market phase when deep tech startups introduce their products or ideas.
- Streamlined Intellectual Property Regime: Simplify the intellectual property landscape to encourage innovation without undue complexities.
- Ease of Regulatory Compliance: Propose measures to ease regulatory requirements, creating a conducive environment for growth.
- Commercialization Support: Provide assistance and resources for the effective management and commercialization of technologies developed by deep tech startups.
Measures to Promote Deep Tech Startups:
- Export Promotion Board: Establish an Export Promotion Board to facilitate entry into foreign markets for Indian deep tech startups.
- 2. Coordinated Oversight: Create an "Inter-Ministerial Deep Tech Committee" to review and coordinate requirements effectively, streamlining the ecosystem.
- International Collaboration and Market Access: Promote strategic international collaborations to enhance market access for Indian deep tech startups globally.
- 4. Defense and Space Sector Focus: Specifically target deep tech startups in defense and space sectors, aiming to enhance contributions to national security and space exploration.
Attracting Global Talent and Expertise:
- Networking Opportunities: Provide networking opportunities to international deep-tech startups and experts interested in contributing to India's local ecosystem.
- Resource-Intensive Approaches: Emphasize resource-intensive measures to attract global talent, strengthening India's deep tech capabilities.
- Visa and Immigration Facilitation: Propose simplifying visa and immigration processes to attract foreign experts and investors.