Chennai:Although Commerce Minister Piyush Goyal’s comments on startups have stirred up Bumblebee’s nest, the fact remains that IT ranked sixth in the DeepTech ecosystem, ranked sixth for IT Service Powerhouse India, and DeepTech funding ranked eighth.
According to latest data from NASSCOM, India ranks sixth in the world’s sixth-ranked DeepTech ecosystem, mainly due to lack of funding and a relatively weak DeepTech enablement or support of the ecosystem. The ecosystems of India, the United States, the United Kingdom, Canada, Germany, France, Japan, Switzerland and Israel are ranked according to performance and funding at each stage.
Currently, India has more than 3,600 DeepTech startups, and has added about 1,000 startups since 2020. Of the 3,600 DeepTech startups, 74% are AI-related joint ventures, 23% are big data and analytics, and 5% are IOT and 10% are blockchain.
Over the past 10 years, global VC investments in DeepTech startups reached $590 billion in 2023, and Indian startups won $10 billion in five years until 2023, ranking eighth in funding in the global ecosystem.
According to Venture Capital Intelligence, India’s DeepTech startups received $734 million in revenue in 2024, accounting for only 6.33% of the total startup funding in 2024. In 2023, they received $1.2 billion, accounting for 13% of startup funds.
NASSCOM found that while AI-centric talent is the driving force behind India, India also needs to prioritize construction skills in multiple technologies to truly unlock its DeepTech potential.
Startups use funds for expansion, talent attraction and global expansion as key areas of challenge. Investors are alert to long pregnancy periods, collaborative dynamics and effective exports. Businesses see intellectual property and data management as key challenges, while academia struggles to fund and build collaborative networks over the long term.
Blume Ventures believes: “In many cases, the market is being addressed by the founders.
NASSCOM hopes that the government will identify and strengthen innovation clusters, promote the availability of patient capital, and quickly track the implementation of the National DeepTech Entrepreneurship Policy (NDTSP).
“India must establish a sectoral innovation hub that combines R&D infrastructure and fields, academia, government and DeepTech startups as well as DeepTech startups. First, the focus may be on five areas, including medical equipment, space, defense, agriculture, agriculture and manufacturing. Each cluster should prioritize India to address India’s problems and prioritize building iPs.
