India's Deep Tech Policy Draft Report (#3)
A Progressive Vision from a Committed Government To Create Scientific Leadership
Photo by Rafid Tahmid: https://www.pexels.com/photo/sculpture-in-indian-temple-depicting-ancient-cavalry-charge-18673076/
The National Deep Tech Startup Policy is a holistic framework crafted to address the unique challenges deep tech startups face in India. The policy's vision revolves around four pillars:
-ensuring India's economic future,
-transitioning to a knowledge-driven economy,
-fortifying national self-reliance with the Atmanirbhar Bharat initiative,
-promoting ethical innovation.
Recognizing the fluid definition of a deep tech startup, the policy outlines nine thematic areas necessitating intervention to foster a conducive environment. To fortify the deep tech startup ecosystem:
The policy underscores the importance of enhancing technology commercialization via partnerships between academia, research labs, and industry.
Intellectual Property Rights (IPR) are prioritized, with the policy advocating for an integrated IP framework tailored for deep tech startups.
Access to long-term finance is spotlighted as crucial, with strategies encompassing funds consolidation, aligning gestation periods with market expectations, and ensuring timely payments.
Shared infrastructure is pushed as a key enabler, emphasizing maximizing existing resources and facilitating global-standard product development.
Regulatory mechanisms are proposed to ensure the safe and standardized adoption of disruptive technologies.
The policy underscores inclusivity by promoting capacity-building initiatives targeting entrepreneurs from smaller cities and marginalized communities.
Efforts to enhance public procurement from startups are built upon, with strategies to unbundle projects, ensure quality-focused procurement, and facilitate subcontracting to integrate startups into the value chain.
Interlinking with existing policies and programs is encouraged, with an Inter-Ministerial Deep Tech Committee proposed for alignment.
The policy emphasizes the importance of assisting deep tech startups in navigating challenges, with provisions for diversified funding mechanisms and centralized mission offices.
The policy envisions a vibrant and inclusive ecosystem that nurtures and sustains deep-tech startups, driving them to the forefront of global innovation.
If you are interested in setting up a deep-tech startup or enterprise set up in India, you should read this document. The full document is available for download here.
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