India is leaving no stone unturned to fully modify itself as a digitally growing nation. The speedy technological growth is evident in the startup ecosystem. Although, it points towards the question on the stand of Indian tech entrepreneurs, investors, and corporates.
The ever-rising tech revolution has kickstarted deep technologies which lie in the heart of the next wave of information disruption.
It’s an even better scenario than before because the corporations and investors desire to start this new venture. The major question is who will lead the startups?
Earlier institutions, corporates, and governments led the startups, which are now replaced by Indian DeepTech startups.
Let us incorporate and understand what DeepTech means. To recapitulate, DeepTech is an amalgamation of Deep Technologies.
It is a terminology used for scientific or engineering advances which have the potential of commercializing. They aim to provide novel solutions to complex problems within the global culture.
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Most of the startups in the form of DeepTech are high-tech creations involving contemporary technological development on the wider spectrum.
At the moment, around 19% of these tech startups influence the DeepTech solutions for the formation of product competencies to expand the market.
Therefore, deep technology has the adequate resources to innovate its markets and impede the ongoing industries. Most of the innovators and investors are moving forward with this technological view of the world usually look for one of these circumstances:
- Technological Advancement (quantum computing)
- Sector (involving advanced manufacturing or industry 4.0) Problem ( cure for skin cancer)
- Grand Challenge ( production of clean energy and climate change)
DeepTech solutions, altogether, makes a plethora of opportunities based on its working model. Consider the kickstart for new industries after addressing the current bottlenecks in traditional sectors. It has (Deeptech) the nature of ever-shifting technologies.
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How is DeepTech different from those regular techs?
The answer lies in the science of things! It originates from research and development (R&D). DeepTech significantly utilizes scientific discoveries to construct everything again from scratch. DeepTech startups do not seek the product-market fit specifically in A/B testing features and phrases.
It includes the process of iterative experiments, along with practical knowledge of real-world environments.
DeepTech enables longer gestation periods since it mentions navigating scientific areas and includes intellectual property, which drives the change. However, it depends on innovation and creation, which can sometimes take months or even decades before the technology is available in commercialization.
Moreover, the significance of DeepTech startups is not something that is hidden among the investors.
In the present time, investment enterprises are available in the forefront for selecting and providing resources to the startups, especially in Drone & Robotics, Agritech, Cybersecurity, and API-led organizations.
Certain startups with DeepTech with high scalability potential and commercial viability has the following:
- 1. Accio Robotics: automation company that deals with the problem through innovative and elegant problem-solving manner.
2. BurnCal: BurnCal has computer vision-based fitness coaching land required for building an innovative direct path between one’s fitness and wellness coach.
3. Datasutram: AI-based platform which gathers intel from external data to provide location-wise data intelligence.
4. Vitra.ai: an ever-growing video ecosystem having approximately 1 trillion minutes of video viewers per month as per the recent data of 2021.
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Evolution of the Technology
It comes with challenges regarding DeepTech originating from the nature of complexities of the technology. Furthermore, it is divided into three categories: prolonged timeline, limited availability of social and physical infrastructure, and lack of capital.
After effectively enabling cross-sectoral collaboration eases a lot of challenges and raises opportunities. Certain corporations, DeepTech VC funds, Academia, and the Government plan for the partnership for open innovation.
Funding for DeepTech Startups:
Some companies in the market specialize in funding and identifying high-growth startups in various industries, namely Drones & Robotics, Agritech, CyberSecurity, and API-led companies.
They are always in the process of looking for entrepreneurs who are actively involved in solving problems left unresolved in the past because of technological limitations.
The major reason behind these DeepTech organizations setting up in India is the upcoming cohesive ecosystem. But most importantly, these startups need promising and prominent investors who understand the availability of talent and potential. It requires entrepreneurs who are willing to invest in their projects.
Emergence of the Indian DeepTech Ecosystem:
India’s standpoint is rather distinctive with the young population, internet stability, the development of enterprise, and the startups are growing in deep technology solutions. Leveraging deep technology to amplify healthcare, education, industrial and manufacturing, and other sectors are of vital importance rather than an alternative.
Fortunately, India is now appearing as the leading DeepTech hub.
The edge DeepTech solutions provide is their ability to structure the basis for industries that emerging markets like India need immediately. Institutional investors have quite a firm stand in the path of DeepTech, increasing the amount of capital.
This usually happens for the growth-stage enterprises or companies because, at that time, there are no scientific barriers left. Plus, the initial product-market fit reserves a place in developed economies. Partnerships with enterprises and startups kick start proves truly beneficial for early-stage startups.
For example, accelerators and incubators under Atal, which is under Startup India, and Niti Aayog.
Venture capital investments in R&D- intensive startups and specialized funds allow the growth of the Indian DeepTech ecosystem and provide sustainable solutions to problems regarding DeepTech to the market.
It is quite evident that the new Indian DeepTech ecosystem is ready and rising for the majority of all stakeholders, prominent companies, investors, and startups.
Investors are moving forward to achieve capital force for these companies. It is essentially required because it’s as simple as math- early-stage companies in the space need more time and capital to launch their products in the market.
It is more significant that corporate and venture capital firms bind together to make long-term, considerable calls on novel and untested technologies.
India is leaving no stone unturned to entirely modify itself as a digitally growing nation. The speedy technological growth is evident in the Indian deeptech startup ecosystem.
Although, it points towards the question on the stand of Indian tech entrepreneurs, investors, and corporates.