The commerce and industry ministry is set to propose a dedicated policy for deep tech startups in the forthcoming Budget, aimed at promoting innovation and extensive R&D, according to media reports. The policy is in its final stages and may be included in the Budget announcement by the new government, expected to take office this month after the June 4 vote count.
The draft National Deep Tech Startup Policy (NDTSP), released last July for stakeholder comments, aims to address challenges faced by deep tech startups through definitive policy interventions. The focus is on creating a conducive ecosystem to harness technological advancements across various sectors, fostering new industry creation.
Key elements of the policy include creating intellectual property rights, funding, infrastructure, standards and certification, and capacity building. Deep technology, based on advanced scientific breakthroughs, holds the potential to address India's most pressing societal issues.
Secretary of DPIIT, Rajesh Kumar Singh, highlighted in March that the policy is nearing completion after inter-ministerial discussions. The government aims to establish funds and a separate window for deep tech startups, as recommended by the Prime Minister's Science, Technology, and Innovation Advisory Council (PM-STIAC).
