Draft National Deep Tech Startup Policy

Why is in news? Draft National Deep Tech Startup Policy (NDTSP) Released for Public Consultation

National Deep Tech Startup Policy (NDTSP) Consortium announces the draft policy for public consultation; seeking public feedback till September 15, 2023.

The National Consortium met on July 24, 2023, deliberated the draft policy document, and suggested releasing it for public consultation after incorporating review inputs and further recommendations.

The Prime Minister's Science, Technology, and Innovation Advisory Council (PM-STIAC), in its 21st meeting held on July 7, 2022, recommended the creation of a National Consortium and a Working Group to propose a comprehensive policy framework to address the needs and strengthen the Indian deep tech startup ecosystem.

The Office of Principal Scientific Adviser to the Government of India is entrusted with the formulation of this policy collectively with key stakeholders.

The Office also plays a catalytic role in building synergy among the stakeholder groups in terms of policy priorities for the deep tech ecosystem.

Under the overall guidance of the National Consortium, steered by the Expert Working Group, a draft version of the National Deep Tech Startup Policy (NDTSP) has been developed through an extensive multi-stakeholder consultative process involving startups, incubation centres, industry associations, academic institutions, and relevant government agencies.

This policy complements and adds value to the existing Startup India policies, programmes and initiatives, by fostering a conducive ecosystem for deep tech startups to thrive and address their unique and complex challenges.

About the policy:

The National Deep Tech Startup Policy (NDTSP) aims to address the challenges confronting deep tech startups through definitive policy interventions to create a conducive ecosystem.

Acknowledging the key significance of deep technology in propelling innovation, economic growth, and societal development, the NDTSP lays the foundation for India's emerging Deep Tech Startup ecosystem.

4 pillars:

Ensuring the Security of India's Economic Future

Facilitating a Seamless Transition to a Knowledge-Driven Economy

Bolstering National Capability and Sovereignty through the Atmanirbhar Bharat Imperative

Fostering Ethical Innovation.

Themes:

Nurturing Research, Development & Innovation

Strengthening the Intellectual Property Regime

Facilitating Access to Funding

Enabling Shared Infrastructure and Resource Sharing

Creating Conducive Regulations, Standards, and Certifications

Attracting Human Resources & Initiating Capacity Building

Promoting Procurement & Adoption

Ensuring Policy & Program Interlinkages

Sustaining Deep Tech Startups

Vision:

The National Deep Tech Startup Policy (NDTSP) strives to drive innovation, economic growth, and societal development through the utilization of advanced research-based deep tech inventions.

NDTSP will support deep tech startups and secure India's financial future, progress towards a knowledge-driven economy, and bolster productivity.

NDTSP also aims to unleash the power of technological growth in all sectors, catalyse multiplier effects and create new industries for enhancing India’s capability and global competitiveness.

About Deep Tech:

Deep tech or deep technology refers to a class of startup businesses that develop new offerings based on tangible engineering innovation or scientific discoveries and advances.

Agriculture, life sciences, chemistry, aerospace, and green energy are among the typical industries in which such startups operate.

Deep technology sectors like artificial intelligence, advanced materials, blockchain, biotechnology, robots, drones, photonics, and quantum computing are advancing from early research to commercial applications at an ever-increasing rate.