Insufficient Support for Deep Tech, Startups by Public-Funded R&D: Study

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By Simran Mehta, Team Asarkari

In a recent study published by a leading research think tank, it has been revealed that public-funded Research and Development (R&D) is not adequately supporting deep tech startups in India. This shortfall raises significant concerns about the future growth of innovation and technology in a country that is increasingly positioning itself as a global tech hub.

The Current Landscape of Deep Tech in India

Deep tech refers to technologies that are based on substantial scientific advances and engineering innovation. In India, deep tech startups are creating groundbreaking solutions in fields like artificial intelligence, blockchain, biotechnology, and quantum computing. Despite the potential these sectors hold, the study suggests that insufficient funding and support from public-funded R&D institutions is hampering their growth.

Understanding the Shortcomings

The study indicates several reasons for the lack of support towards deep tech from public-funded R&D:

• Resource Allocation: Much of the public funding seems to favor basic research rather than applications that could lead to market-ready solutions.
• Limited Collaboration: There exists a disconnect between universities, research institutions, and startups, which hinders valuable knowledge transfer and innovation.
• Complex Regulatory Framework: Startups often find navigating the bureaucratic regulations challenging, leading to delays and reduced motivation to pursue funding from public entities.

The Economic Implications

The budget for R&D has been steadily increasing, yet deep tech startups continue to struggle for resources. This gap not only affects these startups but also limits India's global competitiveness in the technology landscape. According to the study, fostering innovation in deep tech could lead to massive job creation, strengthen economic resilience, and attract foreign investments.

Recommendations for Improvement

Experts suggest focusing on three key areas to enhance support for deep tech startups:

• Enhanced Funding Mechanisms: Governments should establish targeted funding schemes that are exclusively designed for deep tech startups.
• Strengthened Industry-Academia Partnerships: Encouraging collaborative efforts can streamline the path from research to production, enhancing innovation.
• Simplified Regulatory Processes: Creating user-friendly platforms for startups to navigate funding applications will aid in acquiring necessary resources more efficiently.

Conclusion

As India aims to become a leader in technology and innovation, it is imperative that public-funded R&D invests adequately in deep tech startups. By addressing the shortcomings identified in the study, stakeholders have the opportunity to unlock the potential of these startups, ensuring a prosperous tech landscape for the future. Innovation is not just a buzzword; it is essential for economic development and sustainability.

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