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)
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Aim:
- To propel innovation, economic growth, and societal development and
- To lay the foundation for India’s emerging Deep Tech Startup ecosystem.
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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.
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key Foundational Elements of the Policy
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- 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.
What is Deep Tech?
- About: Deep tech refers to those startups whose business model is based on high-tech innovation in engineering, or significant scientific advances and have developed intellectual property that promises an outsize impact but is yet to be realized.
- These are mainly based on artificial intelligence or machine learning, or new or existing emerging technologies like blockchain, computer imaging, and VR.
- Examples: AI applied to predict natural disasters or molecular imaging technologies that identify disease or predisposition to disease.
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Must Read: What Is Deepfake Technology?
News source: The Hindu
January 6, 2024