Team Blitz India
NEW DELHI: The Government’s focus on deeptech startups, via the recently announced India AI mission, is a good starting point to building a conducive investment environment for the sector, according to industry stakeholders.
The mission’s focus on accelerating research and development (R&D) in these companies, experts say, will bolster innovation and create new business models in the sector.
The Union Cabinet, had recently approved an outlay of Rs 10,372 crore for five years for the India AI Mission, aimed at fostering innovation in artificial intelligence through public-private partnerships (PPPs).
Of this, close to Rs 2,000 crore has been earmarked for financing deep-tech startups, with a focus on accelerating R&D in these firms.
“The complex nature of their (deeptech startups’) projects, extended development cycles, and perceived risks all contribute to the repeated rejections they face,” said Avi Dahiya, founder and chief executive officer (CEO), Twyn – a deeptech enterprise software-as-a-service (SaaS) startup.
