The Indian government, through the National Deep Tech Startup Policy (NDTSP) Consortium, has released a draft policy for public consultation until September 15, 2023. This policy proposal is a result of the Prime Minister's Science, Technology, and Innovation Advisory Council's (PM-STIAC) recommendation to strengthen the deep tech startup ecosystem in the country. Its main purpose is to support early-stage deep tech startups in fields like AI, robotics, quantum, and IoT.
The policy outlines a comprehensive nine-point program such as:
Institutes like IIT Madras have been proactive in promoting deep tech startups, incubating over 300 ventures, with an impressive 82% survival rate beyond the initial five years. These startups have achieved a cumulative valuation of$4.6 billion.