New Delhi, May 8 (KNN) Close to two dozen startups have written to the Department of Telecommunications (DoT), urging the government not to discontinue the Digital Communication Innovation Square (DCIS) scheme midway.

The scheme supports research, development, product design, and intellectual property creation in the telecom sector. The startups highlighted that the continuity of the scheme and financing is crucial as the R&D journey cycles are fairly long.

They claimed that while most startups are not yet self-sustaining, they are working on promising solutions, reported FE. The startups said they have not received a significant portion of their grants under the scheme despite reaching relevant milestones.

According to industry executives, one reason DoT is considering closing the scheme is that a few startups have turned profitable. The DCIS scheme, launched in 2021, aimed to fund telecom startups for five years.

In the last financial year, it had 66 startup beneficiaries, offering grants of up to Rs 50 lakhs for startups and Rs 2 crore for micro, small and medium enterprises, which could go up to Rs 10 crore based on the project.

DoT officials stated that a decision on the scheme's continuation will be taken after discussions, with plans to accommodate more companies under the existing Telecom Technology Development Fund (TTDF).

(KNN Bureau)