Nasscom picks 17 deep-tech startups under 4th cohort

IT industry body Nasscom on Friday announced the fourth batch of its 'DeepTech Club', under which 17 start-ups have been chosen for mentoring.

Under the fourth cohort, 17 start-ups were selected for a four-month-long guidance, enterprise connect sessions, and exposure to investors and the global start-up ecosystem, according to a statement.

The programme only intends to promote the creation and evolution of world-class DeepTech companies but also helps them getting identified, recognised, and funded by Nasscom through various programmes, platforms and events, it added.

With over 1,600 DeepTech companies in India in 2019, there has been a spurt in funding of deep tech start-ups as investor interest in niche products and platforms has increased significantly.

Technologies such as artificial intelligence (AI), internet of things (IoT), blockchain, machine learning (ML), and virtual reality (VR) are leading the start-up space and attracting interest and activity, Nasscom noted.

The fourth batch includes start-ups working on areas like AI, natural language processing, immersive technologies, IoT, computer vision and quantum computing, the statement said.

They have built use cases for several verticals including healthcare, manufacturing, marketing and customer experiences, cybersecurity, public safety, transport infrastructure, and e-Governance, it added.

Some of the start-ups chosen are Devnagri, Exxar and Stylumia Intelligence Technology.

Prowess in deep tech and artificial intelligence will be one of the main drivers of economic competitiveness in the near future, and deep-tech start-ups will drive innovation and spearhead the broad structural transformation of the economy, Nasscom President Debjani Ghosh said.

"It is heartening to see Indian start-ups continued to prove their resilience by developing innovative solutions that would help society cope with the pandemic on a daily basis. We must ensure the growth trajectory of the start-up ecosystem is not derailed by providing them with coordinated support from all stakeholders," she added.