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Source: The post is based on the article “Draft National Deep Tech Startup Policy (NDTSP) Released for Public Consultation” published in PIB on 31st July 2023.
What is the News?
The National Consortium and Working Group set up by the Prime Minister’s Science, Technology, and Innovation Advisory Council has released the Draft National Deep Tech Startup Policy (NDTSP) for public consultation.
What is Deep Technology?
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.
What is the Draft National Deep Tech Startup Policy (NDTSP)?
Draft National Deep Tech Startup Policy (NDTSP) is strategically formulated to stimulate innovation, spur economic growth and promote societal development through the effective utilization of deep tech research-driven innovations.
Aim of the policy: To address the challenges confronting deep tech startups through definitive policy interventions to create a conducive ecosystem.
Prepared by: National Consortium and Working Group set up by the Prime Minister’s Science, Technology, and Innovation Advisory Council (PM-STIAC),
Key Features of the policy:
Firstly, the policy suggests necessary changes in nine policy areas such as: 1) Nurturing Research, Development & Innovation 2) Strengthening the Intellectual Property Regime 3) Facilitating Access to Funding 4) Enabling Shared Infrastructure and Resource Sharing 5) Creating Conducive Regulations, Standards, and Certifications 6) Attracting Human Resources & Initiating Capacity Building 7) Promoting Procurement & Adoption 8) Ensuring Policy & Program Interlinkages and 9) Sustaining Deep Tech Startups.
Secondly, the policy restates the government’s disappointment with international agreements that it argues have left India on the backfoot in terms of manufacturing and development power.
Thirdly, the policy calls for a more multi-pronged approach to protect Indian interests. The need of the hour is a coordinated, comprehensive push to optimally engage with international partners and multilateral institutions to push the Indian Deep Tech Ecosystem.
Fourthly, the policy also suggests resource-intensive policy approaches to attract global talent, such as offering networking opportunities to international deep tech startups and experts interested in relocating and contributing to the local ecosystem.
Significance of the policy: This policy complements and adds value to the existing Startup India policies, programmes and initiatives, by fostering a conducive ecosystem for deep tech startups to thrive and address their unique and complex challenges.
