The upcoming National Deep Tech Start-up Policy (NDTSP), which has been in the pipeline since mid 2023, addresses barriers such as limited funding, resource and infrastructure constraints, and risks associated with emerging technologies, the Economic Survey, tabled in Parliament on July 22, said.
In July 2023 , a draft National Deep Tech Startup Policy (NDTSP) was released for stakeholders’ comments. It is aimed at addressing the challenges confronting deep tech startups through definitive policy interventions to create a conducive ecosystem.
"It (the draft policy) intervenes by designing funding mechanisms that embrace the concept of ‘failing by design’, conducting funding awareness programs for start-up founders to diversify their funding sources, establishing a centralised core mission office to streamline approval processes and facilitate intellectual property protection, fostering awareness in Tier 2 and 3 cities, and designing a monitoring mechanism based on mapping key performance indicators," the pre-Budget survey said,
Earlier, it was reported that the deep tech startup policy may be announced in the Budget. Moneycontrol also reported how the deep tech startup policy was likely to feature in the government's 100-day agenda after the elections.
“The Department for Promotion of Industry and Internal Trade (DPIIT) is formulating and finalising the cabinet note, since they have the startup domain. The policy tries to define deep tech startups and create a policy regime tailored towards helping them. Once the policy is approved, then there will be talk about specific schemes, on a separate funding window, whether it is a fund of funds or something else that is a little down the line. But as of now, the cabinet note is in the final stages,” an official had earlier told Moneycontrol.
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