According to a recent Nasscom-Zinnov study, India hosts over 3,600 startups in the deeptech sector, placing it sixth in the global deeptech ecosystem. Remarkably, more than 480 of these startups were founded in 2023 alone, a number that is double the figure from 2022. Over 100 of these new startups have created intellectual property or innovative solutions in emerging domains, with 74% concentrating on AI, a significant rise from the 62% seen between 2014 and 2022.
Despite being recognized as a major hub for global AI talent and boasting the largest pool of developers, India still ranks sixth in the deeptech ecosystem. To improve its standing and break into the top three, Kritika Murugesan, Head of Nasscom deeptech, emphasized the need for several key supports: access to patient capital to help deeptech startups develop and scale their products, robust R&D partnerships with academic institutions for next-generation innovation, streamlined government procurement processes to facilitate the creation of India-specific solutions, and the implementation of the deeptech policy introduced in 2023.
