Deep-Tech Start-ups Secure Funding Commitments At TIPS 4.0

New Delhi, May 15 (KNN) The 4th National Workshop on Technology Innovation in Cyber-Physical Systems (TIPS 4.0), organised by the Department of Science and Technology (DST), witnessed a promising development for India's deep-tech start-up ecosystem.

Hosted by the Technology Innovation Hub for IoT & IoE (TIH-IoT) at IIT Bombay, the event facilitated investment commitments towards 44 innovative deep-tech start-ups from a gathering of 35 senior venture capitalists and angel investors.

The event was organised under the National Mission on Interdisciplinary Cyber-Physical Systems (NM-ICPS).

Addressing the participants, Abhay Karandikar, Secretary, DST, highlighted the significance of providing a platform for deep-tech start-ups to present their innovations to potential investors, aligning with the mission's objective of fostering lab-to-market opportunities.

Padmaja Ruparel, Co-founder, Indian Angel Network, commended the NM-ICPS programme for its unique focus on sectors crucial for India's transition to a USD 5 trillion economy by 2047, as envisioned by Prime Minister Narendra Modi.

The event witnessed participation from 48 deep-tech start-ups across domains such as agriculture, healthcare, defense, security, infrastructure, environment, education, mobility, IT, and SaaS.

Notable among them were Borse Automotive Pvt. Ltd., an agritech start-up pioneering autonomous unmanned ground vehicles (UGVs) for boosting agricultural efficiency and sustainability, and 4CLIMATE, a company developing intelligent automation solutions for industrial and agricultural spaces to reduce carbon footprint and drive climate management.

The NM-ICPS, a comprehensive mission involving academia, industry, government, and international organisations, has established 25 Technology Innovation Hubs (TIHs) across the country in advanced technology areas such as artificial intelligence, robotics, cybersecurity, data analytics, and quantum technologies.

These hubs foster entrepreneurship, develop skilled manpower, catalyse translational research, and promote the commercialisation of cyber-physical system (CPS) technologies.

(KNN Bureau)