NEWS – A national deep tech policy is nearing finalization in India, aimed at providing a comprehensive framework for high-end technology startups

HIGHLIGHTS

• Purpose: The policy aims to address challenges faced by high-end technology startups and make significant contributions to India’s GDP by boosting high-tech exports, enhancing economic competitiveness, and fostering self-reliance.
• Focus Areas: It emphasizes the positive impact of deep tech in critical areas such as food security, healthcare, water management, energy, transportation, climate change, sustainability, and national security.
• Definition of Deep Tech: While there is no precise definition, deep tech broadly refers to advanced technologies that have the potential to bring disruptive changes in the future, even if they are still under development.
• Importance of Intellectual Property Rights (IPR): DPIIT secretary highlighted the importance of commercializing innovations and developing intellectual property rights (IPR) for long-term benefits to the country and startups themselves.
• Dedicated Fund-of-Funds: The government is working on creating a dedicated fund-of-funds to support deep tech startups, indicating a supportive ecosystem for such ventures.
• Role of Self-Regulation: Government officials stressed the importance of self-regulation in the startup ecosystem to ensure transparency, ethical behavior, and innovation without stifling regulations.