India Launches Initiative to Propel Quantum Technology Startups

ENA Sectors 2024-08-08 15:15:12 New Delhi, Aug 8 (KNN) In a decisive move to bolster Indias position in the rapidly evolving quantum technology sector, the Centre announced on Tuesday its first call for proposals to support and nurture startups in this emerging deep-tech domain. The initiative is a key component of Indias National Quantum Mission (NQM), aimed at accelerating the country's progress in quantum technologies. The programme, currently spearheaded by the I-Hub Quantum Technology Foundation (QTF) at the Indian Institute of Science Education and Research (IISER) Pune, marks a significant step towards establishing India as a global leader in quantum research and development. The Technology Innovation Hub (TIH) at IISER Pune is now inviting proposals fr0m innovative startups eager to make their mark in this cutting-edge field. The government has recently approved comprehensive guidelines, developed under the NQM, designed to foster a vibrant startup ecosystem within quantum technologies. These guidelines outline the eligibility and selection criteria, evaluation processes, funding mechanisms, and additional aspects such as progress monitoring and access to advanced facilities. Professor Ajay K Sood, Principal Scientific Adviser to the Government of India, underscored the significance of this initiative, stating, The deep-tech startup policy will help India position itself in the quantum sector internationally. However, this is a new area that is evolving, and as we learn, we will fine-tune the policies and guidelines as per necessity. His remarks highlight the adaptive approach the government plans to take as the quantum landscape develops. Further emphasising the potential impact of the initiative, Professor Abhay Karandikar, Secretary of the Department of Science and Technology (DST), noted that young and middle-level startups could greatly benefit fr0m this opportunity. This call involves one of the most important deep-tech areas and can significantly contribute to Indias journey towards becoming a global leader in it. Funding mechanisms and equity structures are being worked out so that the results of the Mission could be counted on as early as possible, he added. The newly announced guidelines are seen as a crucial framework for providing targeted support to startups, thereby fostering an ecosystem where innovation can thrive. The Ministry of Science and Technology stressed the importance of this support, especially given the nascent stage of quantum technology in India. The Ministry stated, There is a need for robust support to bridge the gap between research and commercialisation, creating new job opportunities and stimulating economic growth. (KNN Bureau) 38899 https://knnindia.co.in/news/newsdetails/sectors/india-launches-initiative-to-propel-quantum-technology-startups 2024-08-08 15:15:12 knnindia.co.in India Launches Initiative to Propel Quantum Technology Startups