The ministry of commerce and industry is set to offer a dedicated policy for DeepTech Startups in the upcoming Budget to enhance the DeepTech’s in start-up space for transformation, innovation as Deep Tech’s has the potential to disrupt traditional way of operating and doing business.
The National Deep Tech Startup Policy serves as a comprehensive framework to address the challenges faced by deep tech startups and provide definitive policy interventions to enhance the Deep Tech Start up ecosystem.
Deep Tech Start ups
The Deep tech start-ups are known for breakthrough discoveries in fields like biotech, material science, energy and driving the next wave of technological change. These startups are working on groundbreaking innovations in fields like artificial intelligence, robotics, genomics, and quantum computing that have the potential to profoundly disrupt industries and society.
For this very reason the commerce and industry ministry is set to propose a dedicated policy for deep tech startups in the upcoming Budget.
With the new government expected to take office later this month and the full Budget for 2024-25 anticipated in July, the policy is in its final stages and could be forwarded for inclusion in the Budget announcement.
Aim of Deep Tech start up Policy in the up coming Budget Fyr 24-25
The initiative is designed to convert cutting-edge innovations into intellectual property rights through extensive R&D.
Addressing the challenges of deep tech startups and fortifying India’s knowledge-driven economy.
A draft National Deep Tech Startup Policy (NDTSP) was circulated for comments last year, highlighting the need for a fertile research and innovation ecosystem.
The govt aims to have the policy in place in the Budget 24-25 FYr to propel funding, infrastructure, standards, certification, and capacity building to create a conducive environment for deep tech startups.
