- Growth in Seed Investments: The average seed investment in Indian deeptech startups has increased 5.3 times between 2016 and 2023. Despite this significant growth, the average Indian seed investment remains approximately 50% lower than the global average, indicating a need for increased funding to compete internationally.
- High-Impact Sectors: The report identifies several high-impact sectors driving this growth, including green hydrogen, generative AI, advanced manufacturing, space technology, and biotechnology. Indian startups are leading innovation in these critical global sectors, with companies like AgniKul Cosmos pioneering 3D-printed rocket engines and Newtrace advancing green hydrogen solutions. These advancements position India to capture a substantial share of global markets, including a projected 10% of the $700 billion space economy by 2030.
- Supportive Ecosystem: The combined impact of government support, academic partnerships, and private investment is shaping India’s deeptech landscape. Key government initiatives include the National Deep Tech Startup Policy and financial support programs from the Biotechnology Industry Research Assistance Council. Premier academic institutions, such as the Indian Institutes of Technology (IITs) and the Indian Institute of Science (IISc), play a pivotal role by translating research into commercialized technologies and nurturing a new generation of entrepreneurs to address global challenges.
- Challenges: Deeptech startups in India face challenges such as high capital intensity, technology validation, and market adoption risks. The report suggests that India is well-positioned to meet the increasing global demand for sustainable energy solutions, like green hydrogen, making it a key player in the global energy transition.
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