The government will reportedly issue a cabinet note on the national deep-tech policy soon. The national deep tech startup policy builds upon the existing national startup policy to cater to the unique needs of deep tech ventures.
According to Ajay Kumar Sood, principal scientific adviser to the government, startups have room for growth but it is crucial for them to be truly innovative, paving the way for new advancements in the coming years.
The draft policy has identified 10 subsectors within deep tech including robotics, computer vision, nanotechnology, and artificial intelligence (AI). It has also proposed the formation of a dedicated deep tech capital guidance fund, in which the government, private limited partners, and international investors anchor specific commitments to a new or existing fund in the form of a fund structure.
Furthermore, the policy has recommended providing for certain fiscal initiatives such as tax rebates to attract domestic general partners and limited partners from the investor community, if they allocate a certain percentage of their corpus to deep tech startups. However, deep tech ventures require deep insights into funding, long-term sustainability and other critical aspects.