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MUMBAI: Govt is within the course of of making a devoted deep tech startup coverage and discussions on the coverage paper have reached the ultimate levels, stated Rajesh Kumar Singhsecretary on the Division for Promotion of Trade and Inner Commerce (DPIIT,
“It isn’t sufficient for startups to simply do innovation, what actually issues is their capacity to commercialize and develop mental property rights.Deep-tech is the reply to that, intensive R&D is the reply… the deep tech startup coverage is within the last levels of inter-ministerial discussions and we hope to convey it ahead quickly,” Singh stated on the Startup Mahakumbh occasion on Monday.
By way of coverage assist for startups, the opposite focus space for govt will likely be to encourage its departments with giant procurement budgets to work with startups.
“By way of procurement, govt has tried to incentivize our departments to more and more procure from throughout the nation. We additionally need to take it one step ahead and make sure that procurement for govt actually begins benefiting the startup group as nicely,” Singh stated, including that initiatives like iDEX (Improvements for Protection Excellence) supported by the protection ministry may very well be checked out and adopted. by different departments as nicely… it is time to have a look at what protection has executed via the iDEX program… that sort of an assured order on the idea of proof of idea resulting in commercialization of the concepts. That is the sort of factor we maybe want to increase to all departments with giant procurement budgets… greater than funding, startups want orders from govt to present them that begin they deserve,” Singh stated.
Govt might also have a look at making a devoted fund for deep tech startups. “… a fund of funds once more since govt desires to do it in an arm’s size method… which is why we created the idea of AIFs and fund of funds,” Singh stated.
“It isn’t sufficient for startups to simply do innovation, what actually issues is their capacity to commercialize and develop mental property rights.Deep-tech is the reply to that, intensive R&D is the reply… the deep tech startup coverage is within the last levels of inter-ministerial discussions and we hope to convey it ahead quickly,” Singh stated on the Startup Mahakumbh occasion on Monday.
By way of coverage assist for startups, the opposite focus space for govt will likely be to encourage its departments with giant procurement budgets to work with startups.
“By way of procurement, govt has tried to incentivize our departments to more and more procure from throughout the nation. We additionally need to take it one step ahead and make sure that procurement for govt actually begins benefiting the startup group as nicely,” Singh stated, including that initiatives like iDEX (Improvements for Protection Excellence) supported by the protection ministry may very well be checked out and adopted. by different departments as nicely… it is time to have a look at what protection has executed via the iDEX program… that sort of an assured order on the idea of proof of idea resulting in commercialization of the concepts. That is the sort of factor we maybe want to increase to all departments with giant procurement budgets… greater than funding, startups want orders from govt to present them that begin they deserve,” Singh stated.
Govt might also have a look at making a devoted fund for deep tech startups. “… a fund of funds once more since govt desires to do it in an arm’s size method… which is why we created the idea of AIFs and fund of funds,” Singh stated.
We additionally printed the next articles not too long ago
VC funding for startups falls 63% to $9.6bn
Indian startups secured $9.6 billion in 2023, down 63% from 2022. Generative AI funding surged to $250 million, with B2C commerce and software program sectors anticipated to rebound.”}
Indian startups secured $9.6 billion in 2023, down 63% from 2022. Generative AI funding surged to $250 million, with B2C commerce and software program sectors anticipated to rebound.”}
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2024-03-18 22:57:13
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