Prof. Ajay Kumar Sood, the Principal Scientific Adviser to the Government of India and Chairperson of the Prime Minister’s Science, Technology and Innovation Advisory Council, says that India must create long-term support systems for deep tech startups. He emphasizes that building a strong, sustainable environment is very important if India wants to become a global leader in innovation.
- Building More Than Just Startups: Prof. Sood explains that it’s not enough to start new companies. India also needs a solid ecosystem - networks, funding, and support that help these startups grow over time.
- Learning from Success: He points to India’s space programme as an example. The space sector has shown that with careful planning and the involvement of both the government and private companies, big achievements can be made. This model can also work in areas like defense, biotechnology, electric vehicles, and nuclear technology.
- Proven Government Initiatives: Programs such as iDEX (for defense) and BIRAC (for biotechnology) already support innovative projects. These initiatives show that when a system is built to meet the needs of a specific field, it can be very successful.
- Financial Support: Last year’s Union Budget announced a fund of Rs 1 lakh crore aimed at providing loans at zero interest. Prof. Sood believes that if this fund is used in a way that matches the unique needs of deep tech startups, it can help speed up innovation.
- Examples in Deep Tech: Under the National Quantum Mission, eight deep-tech startups have already received funding. There are around 35 quantum startups in India, ranging from large companies to smaller, promising ventures. Additionally, the Artificial Intelligence Mission, managed by the Ministry of Electronics and Information Technology, has a special focus on startups.
- New Ways to Work: Prof. Sood also mentioned the idea of a Centre for Deep Tech Translation. This centre might not be a single building, it could be a network of virtual or connected centers that work together to support innovation in deep tech.
In Summary, Prof. Sood believes that creating a reliable and supportive environment is essential for deep tech startups to thrive. By copying the success seen in the space programme and other sectors, India can build a system that helps these companies grow and compete on a global stage.
