A new digital India innovation fund is on the anvil in India to accelerate the growth of deep tech startups according to the country’s Minister of State for Electronics & Information Technology and Skill Development & Entrepreneurship, Rajeev Chandrasekhar.
In a speech to college students in Kerala as part of the “New India for Young India: Techade of Opportunities” program, Chandrasekhar discussed the abundance of growth opportunities available in India in the coming decade, which he referred to as the country’s “Techade.”
He also addressed concerns about job opportunities and migration in the country, stating that such issues often arise due to a lack of hope, but that India is currently at an inflection point with numerous opportunities available for young people.
The Minister also spoke about the history of India as a dysfunctional democracy where opportunities for growth were limited to a select few. He acknowledged that this dysfunctionality had been accepted as a fact and considered the cost of democracy, but emphasized the potential for change and progress in the present and future.
India Witness a surge of Deep Tech Startups – New Digital India Innovation Fund to propel it further
In recent years, India has seen a surge in deep tech startups, driven by a combination of factors including the availability of advanced technologies, a growing pool of highly skilled professionals, and an increasing focus on innovation and entrepreneurship. These startups are working on a range of cutting-edge technologies, including artificial intelligence, machine learning, robotics, and biotechnology, with the goal of solving complex problems and driving progress in a variety of sectors.
One example of a successful deep tech startup in India is Arya.AI, which is focused on developing advanced AI and machine learning technologies for a variety of applications, including natural language processing and image recognition. Another is Agara Labs, which is using AI and machine learning to build intelligent virtual assistants for businesses.
The Indian government has also played a role in supporting the growth of deep tech startups in the country, through initiatives such as the Digital India Innovation Fund, which is aimed at catalyzing the development of these types of companies.
Overall, the future looks bright for deep tech startups in India, as they continue to push the boundaries of what is possible and drive innovation and progress in the country and beyond.