India now ranks at number 6 in the leading abode for a deeptech startup ecosystem across the world, with 3600 startups and the collection of $850 million as funds within the last preceding year. This was apparent in a recent report by Nasscom.
According to joint findings by the Nasscom and Zinnov, over 480 of such startups have been set up in just the last year alone, compared to the preceding year of 2022, rising two times higher.
Among the 480 startups launched in 2023, over 100 are labeled "deep tech innovating companies," producing intellectual property or innovation. This is, however, in newborn industries.
Most of the young deep tech startups setting up shop in 2023 are marked with 74 that have turned to focusing on AI against the previous trend of about 62%.
Leading healthtech, sustainability, AI, and space-tech, leading deeptech startups such as Agnikul, GalaxyEye, HealthPlix, Sarvam AI, Peptris.
“Areas such as AI, quantum computing, space-tech, next-gen robotics and others will come together in interesting ways and be applied across every domain from education, entertainment, commerce, agriculture, industrial manufacturing, mobility, and several others,” said Jeyandran Venugopal, Chair, Nasscom DeepTech Council.
“India, with its deep talent base and traditional strength of producing top-notch STEM talent is well positioned to play a dominant role in this technology-led societal transition process,” he added.
According to Jeyandran Venugopal, Chair of Nasscom DeepTech Council, "Technologies such as AI, Quantum Computing, Space-Tech, Next-Gen Robotics—are converging. And its impacts can be found across education, entertainment, commerce, agriculture, industrial manufacturing, and mobility."
This combines a rich talent pool with historical strengths in developing some of the world's finest professionals in areas such as STEM, and they are going to be at the helm of bringing this change within society. On a different note, India has ranked third across the world in the Technology Startup Ecosystem Rank and sixth in Deeptech startups.
According to Kritika Murugesan of Nasscom DeepTech, “For India to be in the top three deeptech startups ecosystem, key areas that need support are access to patient capital for deeptech startups, strong R&D partnerships with academia and implementation of the deeptech policy that was tabled in 2023”, explained Kritika Murugesan, Head, Nasscom DeepTech.
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