Deep tech startups require focused, later-stage funding: MeitY secretary S Krishnan

IT secretary S Krishnan at Startup Policy Forum's Startup Baithak event on January 16

Deep tech startups require focused, later-stage funding to scale strategically, said IT ministry secretary S Krishnan on January 16, while highlighting the funding challenges faced by startups in this sector.

Krishnan who was speaking at Startup Policy Forum's Startup Baithak event, said, "If you have limited grants, small grants, and you just want to spread it around... But sometimes more focused attention is required in the later stage so that we go up to a scale and we can take it beyond.

"This is especially true in the deep tech space, because in the deep tech space, you want the startup to really scale up and be available to give you that kind of strategic initiative in the country," Krishnan said.

In that regards, Krishnan remarked that the government's own financing approach needed to change, to enable startups in these sectors to scale.

"A fresh perspective on policies and support mechanisms is essential to empower startups and ensure they contribute significantly to the nation’s growth," Krishnan said.

Also present at event was  Shamika Ravi, Member, EAC-PM (Economic Advisory Council to the Prime Minister). Ravi said, "As we evolve from an agricultural to an industrial economy, startups must embrace calculated risks and articulate their concerns more effectively."

Other dignitaries in the two-day event included, Amitabh Kant, G20 Sherpa; Sanjiv Singh- Joint Secretary DPIIT (Department for Promotion of Industry and Internal Trade); Abhishek Singh, CEO, India AI Mission and others.