Introduction

The Indian government is set to approve a new ‘deep tech’ policy. Following public comments on the draft released in July 2023, the final version of the policy is ready for Cabinet approval.

Understanding ‘Deep Tech’

Definition and Scope: ‘Deep tech’ refers to startups that develop intellectual property based on new scientific breakthroughs, aiming for significant impact. Ex. AI, ML, Blockchain, Quantum Computing etc.
Startup India Data: As per Startup India, there are 10,298 startups in various sub-sectors of deep tech as of May 2023.
Exclusion Criteria: Businesses based on easily replicable ideas do not qualify as deep tech startups.

Policy Goals: The NDTSP aims to address challenges in funding, talent acquisition, and scaling R&D operations for deep tech startups.
Strategic Approach: The policy is designed to promote innovation, economic growth, and societal development in the deep tech sector.

Global Ranking: India ranks third globally in the startup ecosystem, with over 3000 deep tech businesses.
Sectoral Expansion: These firms are expanding into areas like agriculture, life sciences, chemistry, aerospace, and green energy.

Public Consultation: The draft policy was open for public feedback until September 15, after consultations with stakeholders in the deep tech ecosystem.
Key Pillars: The policy focuses on securing India’s economic future, progressing towards a knowledge-driven economy, bolstering national capability, and encouraging ethical innovation.

Funding and Innovation: The policy proposes financial support through grants, loans, and venture capital, along with regulatory simplifications and academia-industry collaboration.
Talent Development: Emphasis on STEM education, training opportunities, and attracting international talent.
Infrastructure and Technology Access: Establishment of deep tech incubation centers, testing facilities, and shared infrastructure resources.
Public Procurement and Market Opportunities: Encouraging government agencies to adopt deep tech solutions and facilitating international market access.
Intellectual Property Protection: Establishing a uniform IP framework and implementing cybersecurity measures.

Transformative Potential: The NDTSP is poised to guide India’s deep tech landscape, fostering technological innovation and economic growth.
Measuring Success: The policy’s effectiveness will be gauged by its impact on startups, innovation depth, and societal transformation.
Democratizing Deep Tech: The strategy aims to make deep tech benefits accessible across society, leveraging research-driven breakthroughs for national advancement.