The National Deep Tech Startup Policy (NDTSP) Consortium has unveiled the Draft National Deep Tech Startup Policy for public consultation, seeking to meet the demands and strengthen the Indian deep tech startup ecosystem.
What are Deep Techs?
Deep Tech encompasses state-of-the-art technologies grounded in profound scientific and engineering breakthroughs. For instance, Artificial Intelligence (AI) and Machine Learning (ML) exemplify Deep Tech as they rely on intricate algorithms and models to enable machines to learn from data and make astute decisions.
Policy Themes and Objectives
This policy complements and adds value to the existing Startup India policies, programmes, and initiatives by fostering a conducive ecosystem for deep tech startups to thrive and address their unique and complex challenges. It captures various new policy instruments and suggests necessary policy changes under the following themes:
Nurturing Research, Development & Innovation
The policy aims to encourage and support research, development, and innovation in the deep tech domain by providing grants, incentives, and establishing collaborative platforms between startups, academic institutions, and research organizations.
Strengthening the Intellectual Property Regime
To protect and incentivize innovation, the policy proposes measures to streamline the intellectual property rights process, facilitate patent filing, and provide support for IP-related legal processes.
Facilitating Access to Funding
Recognizing the critical role of funding, the policy outlines strategies to enhance access to capital for deep tech startups through venture capital funds, angel investors, government funds, and corporate partnerships.
Enabling Shared Infrastructure and Resource Sharing
The policy encourages the creation of shared infrastructure facilities and resources to reduce costs and promote knowledge exchange among startups.
Creating Conducive Regulations, Standards, and Certifications
To ensure a supportive regulatory environment, the policy suggests the development of appropriate standards and certifications specific to the deep tech sector.
Attracting Human Resources & Initiating Capacity Building
To address talent challenges, the policy focuses on attracting skilled professionals to the deep tech sector and promoting capacity-building initiatives.
Promoting Procurement & Adoption
The policy advocates for the promotion of government procurement from deep tech startups and the adoption of their innovative solutions across various sectors.
Ensuring Policy & Program Interlinkages
To maximize the impact of various policies and programs, the policy emphasizes interlinkages and collaboration between different government initiatives.
Sustaining Deep Tech Startups
Finally, the policy outlines measures to support the sustainability and growth of deep tech startups, including access to global markets and international partnerships.
About National Consortium
The National Consortium, established based on the Prime Minister’s Science, Technology, and Innovation Advisory Council (PM-STIAC) recommendations, serves as a top-tier organization responsible for formulating a comprehensive policy framework for India’s deep tech startup ecosystem.
Led by the Principal Scientific Adviser to the Government of India, the Consortium comprises a diverse array of stakeholders, including esteemed representatives from government departments, industry associations, research institutions, and innovation centers.
Key takeaways for competitive examinations
- Principal Scientific Adviser to the Government of India: Ajay Kumar Sood