New Delhi, Apr 11 (KNN) The Department for Promotion of Industry and Internal Trade (DPIIT) has revealed plans to introduce a separate policy and funding mechanisms for deep tech start-ups in India.

According to DPIIT Secretary Rajesh Kumar Singh, the start-up ecosystem has different requirements for intensive research and development (R&D) and innovation, which necessitates a separate policy framework, reported Republic World.

Singh stated that there is a suggestion to establish separate funding mechanisms for deep tech start-ups, which require long gestation periods and more hand-holding than typical process improvement start-ups.

Inter-ministerial consultations are currently underway, and once completed, the government hopes to roll out a separate, more facilitative window for deep tech start-ups.

While the DPIIT Secretary refrained from providing a specific timeline, he assured that the government would work towards implementing the new policy and funding mechanisms as quickly as possible.

The proposed separate policy and funding mechanisms aim to address the unique challenges faced by deep tech start-ups and foster an environment that encourages innovation and entrepreneurship in these emerging sectors.

(KNN Bureau)