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In Summary

  • Govt removes 3-year existence condition for deep-tech startups to qualify for recognition and financial aid under DSIR's IRDPP.
  • DeepTech startups, built on profound scientific discoveries like AI and quantum computing, face challenges like long gestation periods and limited academia-industry collaboration in India.
  • Initiatives like the Draft National Deep Tech Startup Policy (NDTSP), 2023, and the Indo-Israel Deep Tech Mission aim to foster India's deep tech ecosystem.

In Summary

Government has removed condition of 3-year existence for deep-tech startups to qualify for recognition and avail financial aid under Department of Scientific and Industrial Research (DSIR)’s Industrial R&D Promotion Program (IRDPP).

  • IRDPP objectives are to strengthen R&D infrastructure in industry and Scientific and Industrial Research Organizations (SIROs).
    • Entities recognized under the IRDPP scheme are eligible for several fiscal incentives and support measures.

What is DeepTech?

  • It refers to the cutting-edge and often disruptive technologies that are built on profound scientific discoveries, engineering innovations, or advancements in research areas.
  • E.g. AI, quantum computing, nano-tech, blockchain, robotics, advanced material sciences etc.
  • DeepTech startups utilize existing advanced technologies to create novel-to-market solutions for complex and often unresolved problems or to invent even more advanced technologies.

Deep Tech Startup Ecosystem in India

  • India is home to over 3,600 startups (2024) and is expected to reach 10,000 by 2030 in the deeptech space, ranking sixth in the global deeptech ecosystem.
  • Challenges: India's venture capital (VC) landscape prioritises quick returns over patient capital, Long Gestation Period, Limited Academia-Industry Collaboration etc.

Initiatives taken for DeepTech Startup in india

  • Draft National Deep Tech Startup Policy (NDTSP),2023:To address the challenges confronting deep tech startups through definitive policy interventions to create a conducive ecosystem.
  • NECTAR: Autonomous society under DST aims to harness and leverage niche frontier technologies.
  • Research Development and Innovation (RDI) Scheme: It enables acquisition of strategically important technologies, and promotes the creation of a Deep-Tech Fund of Funds.
  • Indo-Israel Deep Tech & Life Sciences Mission: This mission was launched in 2021 to promote collaboration between India and Israel in deep tech and life sciences.
Tags:
DeepTech DeepTechStartups DepartmentofScientificandIndustrialResearch Deep-Tech-Startup-Ecosystem

Article Sources

1 source
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https://www.newsonair.gov.in/union-mos-jitendra-singh-announces-removal-of-three-year-eligibility-condition-for-startups-under-rdi-fund/
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Fund of Funds

An investment scheme where a fund invests in other funds, often used by governments or institutions to channel capital into specific sectors like deep technology startups.

National Deep Tech Startup Policy (NDTSP)

A proposed policy framework in India designed to address challenges faced by deep tech startups and create a supportive ecosystem for their growth through policy interventions.

Scientific and Industrial Research Organizations (SIROs)

Organizations recognized by DSIR that are engaged in scientific and industrial research activities and are eligible for certain benefits under government schemes.

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