Time for Indian Deep Tech Startups to Shine

Indian is home to an army of skilled engineers, innovative thinkers and astute risk taking entrepreneurs. However, we as a nation have not yet created a path breaking and impactful enterprise akin to a Tesla, Google or BioNtech. Experts believe that once we look beyond the volume play and emphasize on value creation, the game will change. Experts also believe that it will be the ingress of deep tech will be the vehicle that will usher in this transformation.

Described as an amalgamation of cutting edge technologies such as Artificial Intelligence (AI), Machine Learning (ML), Natural Language Processing, Robotic Process Automation (RPA), Blockchain, AR/VR, Internet of Things, Big Data and 3D printing to name a few, deep tech is expected to transform various traditional industry verticals. Some of them include but are certainly not limited to industries such financial services, healthcare, education, manufacturing and agriculture.

A recent study by Naascom estimated that over 19 percent of startups in the Indian tech startup ecosystem are leveraging deep tech in some way or the other. These young firms are creating complex and smart solutions especially for the B2B space, with an increased focus on e-commerce, enterprise tech, fintech, healthtech, edtech, HRTech and agritech. The same report also identified enterprise technology as the leading vertical with over 29 percent startups creating innovative deep tech solutions for it. This is followed by 8 percent in fintech and healthcare respectively.

The report also highlighted the increased investor support to deep tech startups. 2020 alone saw 14 percent of the total investment going to deep tech startups. Of this number a whopping 87 percent was focused on AI/ML solutions. Additionally IoT (Internet of Things), and big data analytics emerged as other preferred technologies.

Given the widespread digital adoption, especially post the pandemic, the future for deep tech looks highly promising. Sensing the pulse of the industry, StartupCity brings to you a list of some of the most innovative deep tech startups emerging in the Indian tech startup landscape. These startups are leveraging cutting edge technologies to create path breaking solutions that are poised to redefine the very core of several industries.