India is witnessing a boom in deeptech startups, especially in cybersecurity, quantum computing, artificial intelligence (AI) and semiconductor. According to the latest report by Nasscom, the country is home to more than 3,000 deeptech startups, with a cumulative growth of 53% in the past 10 years.
The report also highlights that deeptech startups in India, which comprise 12% of the total startup ecosystem, have raised around $2.65 billion in funding in 2021.
Leading private funds are already backing Indian deeptech startups by collaborating with research and technology institutions and creating patented solutions. Over 30% of Indian deeptech startups have filed for patents.
Meanwhile, the government is aiding the growth with targeted policies and strategies that include the National Blockchain Framework, and AIRAWAT (AI Research, Analytics and knowledge Assimilation) to accelerate deeptech adoption.
The report said there are more than 4,000 people employed across 14 potential deeptech unicorns and this number is likely to double by 2026.
Despite this rapid growth, the report said, the deeptech startup ecosystem faces multiple challenges including talent and market access, research guidance, and customer acquisition.
Source: economictimes.indiatimes.com
