Context: A note on a new ‘deep tech’ policy for India will be sent for Union Cabinet approval in the coming weeks.

• A draft of the policy on Deep Tech has been released In July 2023, for public comment and following feedback from the industry, a final version is ready for approval. 

Key Features of National Deep Tech Startup Policy (NDTSP) 

• Aim: 

  • To  propel innovation, economic growth, and societal development and
  • To lay the foundation for India’s emerging Deep Tech Startup ecosystem.

• Pillars: 

  • Ensuring the Security of India’s Economic Future
  • Facilitating a Seamless Transition to a Knowledge-Driven Economy
  • Bolstering National Capability and Sovereignty through the Atma Nirbhar Bharat Imperative
  • Fostering Ethical Innovation.

• key Foundational Elements of the Policy

• • Funding and Innovation: The strategy attempts to give financial assistance to deep tech firms through a variety of means such as grants, loans, and venture capital. 
    • It also aims to foster innovation by simplifying regulatory processes and encouraging collaboration between academia and industry. 
  • Talent Development: It promotes steps to cultivate a skilled workforce in the deep tech sector. This includes promoting STEM education, offering training possibilities, and attracting international talent.
    • The policy also provides for the creation of domain expertise for data interpretation through a fee-service model.
  • Access to Advanced Infrastructure and Technology: It suggests that deep tech incubation centers and testing facilities be established across the country, it also emphasizes strengthening the existing tie-ups with IIT and IISc, etc to provide shared infrastructure resources at nominal fees.
  • Public Procurement and Market Opportunities: The strategy pushes government agencies to embrace deep-tech solutions and opens up new markets for businesses as well as become the first market for such deeptech startups. It also encourages international cooperation and market access.
  • Intellectual Property (IP) Protection: It suggests the establishment of a uniform IP framework and the implementation of strong cybersecurity measures.

Must Read: What Is Deepfake Technology?

News source: The Hindu

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