Startups whose business model is based on high-tech innovations in engineering, or significant scientific advances, are called deep tech, or deep technology. The business starts with some kind of genuinely innovative technology and revolves around it. It is deployed to solve difficult problems almost in the real world. Other innovative applications for VR bank on artificial intelligence or machine learning, or new or existing emerging technologies such as blockchain, computer imaging and deep tech. Examples of deep tech differ from molecular imaging techniques that identify disease or disease tendencies long before any other existing test has been applied to AI to predict natural disasters.
India and deep technology
The deep tech sector in India is poised for an exciting phase, especially in the backdrop of industries and the internet economy being prepared for disruption by climate change and the metaverse. India's deep tech startup ecosystem has come a long way in the past few years, distinguishing itself through its proximity to a major problem space, input and data, with many bright minds in stellar university labs and startups. Competitors globally are working on disruptive technology.
India's deep tech ecosystem has grown by 53 per cent in the past decade and is on par with developed markets such as the US, China, Israel and Europe. Deep-tech start-ups are making their presence felt in areas ranging from drone delivery and cold chain management to climate action and clean energy. Today, the Indian deep-tech ecosystem has really come of age. It has not only overcome obstacles with astonishing innovation and exceptional direction but is also playing a dynamic role in generating sustainability solutions.
India needs deep tech startups to take digital transformation to the next level. Current digital technologies such as mobile, cloud, and customer relationship management (CRM) tools add functional capabilities such as connectivity, storage, and computing power to any organization and its progress in its digital transformation journey.
Funding in Deep Tech
Funding plays an integral role in any deep tech start-up because the more funding you have, the more amazing stories you can create from it. The primary drivers for investors are the type of revenue that can be generated, the list of customers, what the pipeline looks like and what the recurring revenues are. While Indian investors are now willing to take more risk, a positive narrative is needed to change the scenario as it is hard to fight the assumptions and prove theories.
policies
Strong policies and national initiatives such as Atmanirbhar Bharat, Return-to-India and Make-in-India help to prosper and expand the Indian startup ecosystem, which has seen phenomenal growth rates in deep tech startups. UPI, AI enabled e-governance and other upcoming digital investments by the Government of India such as its own official digital currency, are taking us closer to an inflection point where the social applications of Deep Tech in India will drive enterprise use of such technologies. will cross.
future of deep tech
The future of deep tech looks very bright. Deep-tech start-ups are making their presence felt in all sectors and big deep-tech firms are giving birth to a new class of entrepreneurs. Apart from organic growth of the ecosystem, deep-tech start-ups are now being attracted by organizations and enterprises as they seek to build niche technological capabilities and expand their product portfolio on the path of digital transformation. In order to gain access to niche technologies and quality talent, many deep-tech startups in India are being acquired by large corporations, reflecting the strong demand for startups focused on disruptive technology that solve complex global problems. can solve.
As the continued growth of the Indian start-up ecosystem is driven by the on-going era of constantly emerging new technologies, organizations and the government will need to re-evaluate their roadmap for deep technology adoption. With technologies such as 5G, understandable AI, quantum computing, cloud-native technologies, cyber security meshes, customer data platforms, etc. that can enable the rapidly growing and resilient Indian startup ecosystem to become a global leader in the deep tech space, The horizon seems very fertile.
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