Deep technology and Research Funding

Deep technology and Research Funding

News: A new scheme to encourage development of deep tech for the defence sector and the announcement of a ₹1 lakh crore corpus for long-term interest-free financing have come as a major boost for the domestic ecosystem and are likely to spur research into disruptive technologies.

What is Deep technology?
• Deep technology, also known as deep tech or DeepTech, refers to a specific category of organizations or startup companies that focus on providing technology solutions based on significant scientific or engineering challenges.
• Deep tech companies tackle complex problems that require lengthy research and development and substantial capital investment before successful commercialization.
• Their primary risk lies in technical challenges, while market risk tends to be lower due to the clear potential value of their solutions to society.

What are the fields of Deep tech?
• Advanced materials, Advanced manufacturing, Artificial intelligence (AI), Machine learning, Biotechnology, Blockchain
• Robotics, Photonics, Aerospace and space technology
• Electronics (including semiconductor manufacturing)
• Cyber threat intelligence, Fusion power, Quantum computing

Advantages of Deep technology:
• Solving Complex Problems: These technologies play a key role to address complex global challenges like climate change, hunger, epidemics, energy access, mobility, physical and digital infrastructure, and cyber security.
• Increased Efficiency: Deep technologies enhance productivity by automating repetitive tasks, optimizing processes, and enabling predictive analytics. This leads to cost savings, improved resource utilization, and faster decision-making.
• Enhanced Decision-Making: Deep learning algorithms and predictive analytics empower organizations to make data-driven decisions based on insights extracted from large datasets. This enables better forecasting, risk management, and strategic planning.
• Job Creation: While deep technologies may automate certain tasks, they also create new opportunities for skilled workers in areas such as software development, data science, engineering, and research.

Challenges:
• Inadequate budget: India’s expenditure on research is far below the global average. Absolute spending has increased, but expenditure on research as a share of GDP has come down. India currently spends just about 0.65% of its national GDP on research and development activities whereas the global average is about 1.8%.
• Reduced budget allocation: Also in recent budget allocation the highest increase is for CSIR, (about 9%), and the Department of Space has received only a 4% increment. The budget of the Departments of Atomic Energy and Biotechnology, and the Ministry of Earth Sciences have been reduced.

About The National Deep Tech Startup Policy (NDTSP)
• The NDTSP is strategically formulated to stimulate innovation, spur economic growth, and promote societal development through the effective utilization of deep tech research-driven innovations.
• It centralizes on bolstering deep tech startups, solidifying India’s financial stability, and transitioning toward a knowledge-centric economy, thereby augmenting overall productivity.

Four Pillars:
o Ensuring the Security of India’s Economic Future: By supporting deep tech startups, the policy safeguards India’s financial well-being.
o Facilitating a Seamless Transition to a Knowledge-Driven Economy: NDTSP aims to unleash the power of technological growth across diverse sectors.
o Bolstering National Capability and Sovereignty through the Atmanirbhar Bharat Imperative: The policy strengthens India’s capabilities and enhances global competitiveness.
o Fostering Ethical Innovation: NDTSP encourages responsible and ethical use of deep tech.