India Now Boasts 3,600 Deeptech Startups, Ranked 6th Globally: Nasscom

According to Nasscom, India now has 3,600 deeptech startups, positioning it as the 6th largest hub globally for deeptech innovation. This milestone highlights India's growing influence and capabilities in advanced technology sectors, including AI, IoT, blockchain, and robotics. The surge in deeptech startups is driven by a supportive ecosystem, increased investments, and a focus on cutting-edge research and development, reinforcing India's status as a significant player in the global tech landscape.

Out of the 3,600 startups, more than 480 were founded last year, which is double the amount established in 2022, as stated in the report by Nasscom and Zinnov.

Boston Brand Media brings you the latest news - New Delhi: India has climbed to sixth place among the top nine deeptech ecosystems globally, with 3,600 startups, which collectively received $850 million in funding last year, according to a Nasscom report released on Thursday.

Out of the 3,600 startups, more than 480 were established last year, doubling the number founded in 2022, the report by Nasscom and Zinnov revealed.

Among these 480 new startups in 2023, over 100 are "inventive deeptech firms" that have developed intellectual property or innovative solutions in new domains.

Significantly, 74 percent of the deeptech startups established this year are focused on AI, up from 62 percent during the period from 2014 to 2022.

Boston Brand Media also found that emerging deeptech startups such as Agnikul, GalaxyEye, HealthPlix, Sarvam AI, and Peptris are innovating in areas like healthtech, sustainability, AI, and space-tech.

"AI, quantum computing, space-tech, next-gen robotics, and other areas will converge in exciting ways, impacting education, entertainment, commerce, agriculture, industrial manufacturing, mobility, and more," said Jeyandran Venugopal, Chair of the Nasscom DeepTech Council.

"India, with its deep talent base and strong tradition of producing top-notch STEM professionals, is well-positioned to lead this technology-driven societal transition," he added.

While India ranks third in the technology startup ecosystem, it holds the sixth position for deeptech startups.

"For India to break into the top three deeptech startup ecosystems, critical support areas include access to patient capital, robust R&D partnerships with academia, and the implementation of the deeptech policy proposed in 2023," explained Kritika Murugesan, Head of Nasscom DeepTech.

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Source: NDTV‍