New Delhi: The National Association of Software and Services Companies (Nasscom) has launched the Deep Tech Club (DTC) 2.0 to boost Indian deep tech startups and help them scale globally.
A three-stage program, DTC 2.0 is aimed at scaling the impact to over 1,000 such firms, who are leveraging technologies such as Artificial Intelligence, Machine Learning, Internet of Things, Robotics and Blockchain.
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The central focus of the DTC program is to act as a catalyst in empowering pioneers in Indian deep technology startups and connect them with industry leaders, investors, academia, researchers and government regulators to establish a global ecosystem impacting physical and digital transformation.
According to Nasscom, the DeepTech startup base in the country will continue to grow at a CAGR of 40-45% in 2021. As of 2020, more than 2,100 Indian startups are leveraging deep technologies, up from 1,600 in 2019. There has been a spurt in deep tech startups funding, as investor interest in niche products and platforms has increased significantly, resulting in over 14% of the total startup investments in deep-tech ventures in 2020 which is 11% higher than in 2019. Up to 87% of these investments were in AI/ML startups in 2020.
“The start-up ecosystem of our country is strong and robust and is already ahead in solving many global challenges. In this era of digital, it is essential for these start-ups to continue to digitalize and integrate deep technologies in order to constantly evolve and be globally competitive,” said Debjani Ghosh, President, Nasscom.
DTC works in a phased approach to scale through partners. Global partners include Advanced Telecommunications Research Institute (ATR), Japan and Dallas Venture Capital, USA. “As a US and India focused VC, Dallas Venture Capital is excited to partner with Nasscom in mentoring Deeptech startups from India and support their foray into the US market,” said Dayakar Puskoor, Founder and Managing Partner, Dallas Venture Capital.
In India, Nasscom has partnered with industry and academia leaders, including Intel, Cisco Launchpad, NetApp, IIT-Kanpur, Sine (IIT-B), T-Hub and Zinnov.
“Intel India has helped enable over 80 deep tech startups to date through the Intel Startup Program and we remain committed to accelerating their journey from development to putting products in the market. We are proud to collaborate with Nasscom, other industry and academia partners on Deep Tech Club 2.0 to scale India’s deep tech startups and maximize their potential for business and social impact,” said Jitendra Chaddah, Country Manager, Global Supply Chain, Intel India.
The program aims to increase the number of partnerships in the second stage, accelerating the growth of the deeptech ecosystem.
Over the years, DTC has helped companies raise $70 million and provided over 2,000 industry connects via six DeepTech confluences, and corporate and Investor led accelerators to support deep tech companies.
“DeepTech ecosystem will play a critical role in marching towards a trillion-dollar digital economy. Having a strong and robust ecosystem comprising of academia, incubators/accelerators and enterprises will be absolutely critical,” said Anupam Saronwala, Lead-DeepTech Club, Ex Director at IBM Research.