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NM Rao, CEO of Atal Incubation Center-CCMB, urges founders to contribute to shaping India’s Deep Tech startup policy
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Deep Tech startups build on strong R&D and intellectual property, they face high entry barrier, it takes them longer time to enter the market, longer gestation period brings in the need for patient capital. To support and nurture the unique requirements of Deep Tech startups in India, I urge all founders to contribute to the National policy - NM Rao, CEO, Atal Incubation Center-CCMB
Deep tech startups harness cutting-edge scientific and engineering advancements to launch transformative products. However, a key hurdle they encounter is securing patient investors who understand the longer journey to success. To support and nurture the unique requirements of deep tech startups in India, a National Deep Tech startup policy is being framed. Founders should contribute to the policy, right now in its draft stage, to make it a more useful policy, NM Rao, CEO, Atal Incubation Center-CCMB said.
A scientist in protein engineering, NM Rao was delivering the key note address at a session on ‘Catalyzing Deep Tech Innovations towards Global Presence,’ organised by FTCCI, in the city at its premises, on Thursday.
“Deep Tech startups build on strong R&D and intellectual property, they face high entry barrier, it takes them longer time to enter the market, longer gestation period brings in the need for patient capital. To support and nurture the unique requirements of Deep Tech startups in India, I urge all founders to contribute to the National policy,” Rao said.
He went on to say that India ranks fifth globally in knowledge generation but is far behind in innovation. “Innovation brings knowledge useful to the society. Hyderabad has more Central institutions. The entire Habsiguda area has many such institutions for it to be named Science Corridor. We must make use of those institutions,” he stressed.
His key note address was followed by a panel discussion on, ‘Building a global Deep Tech ecosystem,’ which was moderated by Pankaj Dewan, Founder, Idea Labs. The panelists included, Bala Peddigari, Manish Gupta, and Meghna Girish, drawn from IT and life sciences background.
In theme address, Meela Jayadev, president, FTCCI noted that the nation is ready to dominate Deep Tech research, as nearly 21,000 deep tech startups have emerged in India. K Mohan Raidu, Chairman, ICT Committee-FTCCI, spoke about the role of deep tech in shaping the future of the country.
