India ranks sixth globally in deeptech startup ecosystems: Nasscom

India is home to over 3,600 startups in the deeptech space, ranking sixth in the global deeptech ecosystem, according to a recent Nasscom-Zinnov study. Out of these, more than 480 deeptech startups were established in CY23 alone, which is double the number from 2022. Over 100 of these startups have developed intellectual property or innovative solutions in new domains, with 74% focusing on AI, a significant increase from 62% in the period from 2014 to 2022.

While India is recognized as a hub for global AI talent and the largest pool of developers, it still ranks sixth when it comes to the deeptech ecosystem. To improve its position and reach the top three, Head of Nasscom deeptech Mrs. Kritika Murugesan, , highlighted key areas that require support: access to patient capital for deeptech startups to build and scale their products, strong R&D partnerships with academia for next-generation innovation, streamlining government procurement for startups to build India-specific solutions, and the implementation of the deeptech policy that was tabled in 2023.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.