Deep tech startup policy likely in forthcoming Budget
commerce and industry ministry may propose a dedicated policy for deep tech startups to promote innovation, for the forthcoming Budget to be announced by the new government, an official said. Voting for the Lok Sabha polls is over and the counting is scheduled for June 4. The new government is likely to take oath this month. The new government may announce the full Budget for 2024-25 in July.
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The official said that startups have to convert their innovation into intellectual property rights and for that extensive R&D is required.
The policy is in the final stages and the ministry may forward this proposal for the full Budget announcement, the official said.
In July last year, a draft National Deep Tech Startup Policy (NDTSP) was released for stakeholders' comments.
It is aimed at addressing the challenges confronting deep tech startups through definitive policy interventions to create a conducive ecosystem.
It also aims to harness the transformative potential of technological advancement across diverse sectors, serving as a catalyst to stimulate ripple effects throughout the economy and laying the groundwork for new industry creation.
Deep technology refers to innovations founded on advanced scientific and technological breakthroughs. Due to their disruptive nature, they have the potential to solve India's most pressing societal issues.
According to the draft, the priority is to strengthen the research and innovation ecosystem leading
