India ranks sixth globally in deeptech startup ecosystems: Nasscom

According to a Nasscom-Zinnov study, India hosts over 3,600 startups in deeptech, ranking sixth globally in this sector. In 2023, more than 480 new deeptech startups were established, double the number from 2022, focusing notably on Artificial Intelligence (AI).

These startups are developing intellectual property across various domains, with 74% concentrating on AI, up from 62% in the previous decade. Despite India's significant AI talent pool, its deeptech ecosystem faces challenges. These include access to patient capital, R&D partnerships with academia, streamlined government procurement, and implementing deeptech policies.

Funding for Indian deeptech startups in 2023 totaled $850 million, marking a 77% decline, with reduced investments due to cautious investor sentiment.