On Monday, the government released a draft of the National Deep Tech Startup Policy aimed at tackling startup challenges and fostering ecosystem improvement. The draft is open for public feedback until September 15.
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The government introduced the Draft National Deep Tech Startup Policy on Monday, with the main goals of addressing startup challenges and enhancing the overall startup ecosystem. This draft policy is currently open for public feedback until September 15.
The policy, led by a consortium chaired by the principal scientific adviser to the government, Ajay Kumar Sood, has defined four main pillars. These pillars focus on securing India’s economic future, advancing towards a knowledge-driven economy, strengthening national capability and sovereignty in line with the Atmanirbhar Bharat (self-reliant India) vision, and promoting ethical innovation.
The policy has established criteria to define deep tech startups, considering factors like maturity levels, sector applicability, time frames, geographical boundaries, and contextual relevance.
As per the policy, a deep tech startup is characterized by its utilization of early-stage technologies derived from scientific or engineering breakthroughs, which have not been deployed for commercial purposes yet. Additionally, the policy highlights that such startups often create solutions along uncharted paths, drawing from novel knowledge within scientific or engineering disciplines, or through the integration of multiple disciplines.
As of May 2023, Startup India’s database shows that there are 10,298 startups recognized by the Department for Promotion of Industry and Internal Trade (DPIIT), classified under different sub-sectors within the broader domain of deep tech.
The policy’s primary objectives for the government include fostering research, development, and innovation, enhancing the intellectual property framework, facilitating funding access, infrastructure availability, and resource sharing, as well as promoting standards and certifications, among other key initiatives.
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