National Deep Tech Startup Policy
Source: PIB
GS III: Science and Technology
Overview
- News in Brief
- About National Deep Tech Startup Policy
- What is Deep Technology?
Why in News?
National Deep Tech Startup Policy (NDTSP) Consortium announces the draft policy for public consultation; seeking public feedback till September 15, 2023.
News in Brief
- 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.
- 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 draft policy is shaped as a result of inputs received from 200+ stakeholders within and outside the deep tech startup ecosystem.
National Deep Tech Startup Policy
During the consultation and drafting process, various steps were taken to gather input and insights from different stakeholders.
The process involved:
- Holding multiple priority-setting meetings at the National Consortium and Working Group level.
- Conducting consultative workshops with deep tech startups in Bengaluru, Hyderabad, Mumbai, and New Delhi, hosted at academic innovation and incubation centers.
- Organizing multi-stakeholder roundtables and debates.
- Facilitating focused group discussions with subject matter experts and technology policy researchers.
- Conducting interviews with individual thought leaders in this space.
Key Features
| Policy Area | Description |
|---|---|
| Research, Development & Innovation | By offering grants, incentives, and creating collaboration platforms between companies, academic institutions, and research organizations, the policy seeks to stimulate and support research, development, and innovation in the deep tech field. |
| Intellectual Property Regime | The strategy suggests actions to speed up the filing of patent applications, simplify the intellectual property rights process, and assist IP-related legal procedures to safeguard and promote innovation. |
| Access to Funding | The strategy offers measures to improve access to financing for deep tech firms through venture capital funds, angel investors, government funds, and corporate collaborations in recognition of the crucial role of funding. |
| Infrastructure and Resource Sharing | To cut costs and foster knowledge sharing among entrepreneurs, the strategy supports the development of common infrastructure facilities and resources. |
| Regulations, Standards, and Certifications | The strategy recommends the creation of relevant standards and certifications unique to the deep tech industry to maintain a supportive regulatory environment. |
| Human Resources & Initiating Capacity Building | The policy focuses on luring qualified individuals to the deep tech industry and supporting capacity-building programs to overcome the skills shortage. |
| Procurement & Adoption | The strategy promotes the use of deep tech companies in government contracts and the acceptance of their creative solutions across many industries. |
| Policy & Program Interlinkages | The strategy places a strong emphasis on connections and cooperation across various government efforts to maximize the impact of various policies and programs. |
| Sustaining Deep Tech Startups | The program includes strategies for deep tech entrepreneurs to get access to foreign markets and form relationships with other nations. |
What is Deep Technology?
- Deep technology, also known as deep tech, refers to a category of advanced and cutting-edge technologies that are based on scientific breakthroughs and have the potential to create significant impact and disruption across various industries.
- These technologies often involve a high degree of complexity, innovation, and specialization, and they require substantial research, expertise, and investment for their development and commercialization.
Key characteristics of deep technology
- Scientific Advancements: Deep technologies are typically built on scientific discoveries and breakthroughs, including advancements in fields such as artificial intelligence (AI), machine learning, quantum computing, biotechnology, nanotechnology, and advanced materials.
- Complexity and Depth: These technologies are characterized by their complexity and depth of research, often involving intricate algorithms, novel materials, or advanced hardware components.
- Novelty and Innovation: Deep tech solutions are often at the forefront of innovation, pushing the boundaries of what was previously thought possible and introducing new ways of addressing challenges.
- Long Development Cycles: Developing and commercializing deep technologies can take considerable time and investment due to the need for extensive research, prototyping, and rigorous testing.
- High Barriers to Entry: Deep tech industries may have high barriers to entry due to the specialized knowledge, skills, and resources required for successful development and implementation.
- Disruptive Potential: Deep technologies have the potential to disrupt existing industries and create new markets, driving innovation and economic growth.
Examples of deep technology applications
- AI and machine learning for advanced data analytics, natural language processing, and computer vision.
- Quantum computing for solving complex problems with unprecedented computational power.
- Biotechnology for gene editing, personalized medicine, and novel therapies.
- Nanotechnology for materials engineering, drug delivery systems, and energy storage solutions.
- Advanced robotics and automation for industrial applications and human-assistive devices.
What is the importance of deep technology?
- Deep technology plays a crucial role in shaping the future of industries, addressing global challenges, and improving the quality of life.
- As these technologies continue to evolve, they are expected to drive innovation and transformation in various sectors, ranging from healthcare and manufacturing to finance and agriculture.
Daily Current Affairs: Click Here