According to the union minister of state for the Ministry of Science and Technology, India has moved from being a technology adopter to a technology leader, driven by deep-tech-led growth over the past decade.
Speaking at the Indian Institute of Management Ahmedabad (IIMA) Ventures Summit, the minister highlighted the strength of India’s startup ecosystem, noting that it is now the third largest globally, with more than 175,000 startups. He added that nearly 50 per cent of these enterprises are based in Tier 2 and Tier 3 cities.
Further, he added that the Department of Science and Technology is one of the partners of IIMA Ventures, an incubation platform for startups, which supports early-stage companies through regional and virtual incubation programmes.
Additionally, the minister emphasised that management and technology are closely interlinked, and pointed out that startups cannot sustain themselves without strong industry backing and sound management strategies. During the event, he also launched Translation Endeavours, IIMA Ventures’ flagship platform aimed at bridging the gap between science and entrepreneurship. The initiative is designed as a collaborative platform bringing together academic institutions, incubators and venture builders to accelerate the translation of research into commercially viable ventures.
