Rajesh Kumar Singh, Secretary, Ministry of Commerce and Industry, announced on Monday that the Centre will soon have a new strategy to support and strengthen the deeptech startup ecosystem in the nation.
Interministerial talks on the deeptech startup policy are nearing their conclusion, according to Rajesh Kumar Singh, who was speaking at the “Startup Mahakumbh” event held in the nation’s capital.
We intend to move forward with it shortly. He told the audience, “We will hopefully work towards creating a dedicated fund of funds,” and that the nation would soon see a special window for deeptech businesses.
At the “Startup Mahakumbh,” around 34 deeptech startups are exhibiting their ideas at the Nasscom pavilion.
Across industries, including artificial intelligence and software-as-a-service (SaaS), consumer and D2C brands, agritech, fintech, deeptech, biotech, and pharmaceuticals, incubators, climate tech, E-sports, and B2B manufacturing, the event will enable thought-provoking conversations.
With over 950 tech businesses launched last year, India continues to have the third-largest tech startup ecosystem in the world.
A recent analysis released by Nasscom and Zinnov predicts that deeptech investments will continue to rise through 2024.
Seventy percent of company owners are integrating AI into their solutions as a result of the acceleration of generative AI, or GenAI.
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