New Delhi, Mar 19 (KNN) Rajesh Kumar Singh, Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), disclosed that the government is on the verge of introducing a dedicated deep tech startup policy during the Startup Mahakumbh event, on Monday.

Deep-tech startups, he highlighted, play a pivotal role in this aspect, with extensive research and development serving as the cornerstone of their success.

In addition to the deep tech startup policy, Singh shed light on the government's focus on providing policy support to startups in various sectors. 

One key area of emphasis is encouraging departments with substantial procurement budgets to collaborate with startups. 

Singh stressed the need to ensure that government procurement practices align with the interests of the startup community, citing initiatives like iDEX (Innovations for Defence Excellence) as potential models for replication across other departments.

Furthermore, Singh hinted at the possibility of the government establishing a dedicated fund for deep tech startups. 

He mentioned the concept of a "fund of funds" as a potential avenue for facilitating funding in an impartial manner, mirroring the approach taken with Alternative Investment Funds (AIFs) and fund of funds.

(KNN Bureau)