There's a prevalent VC expectation for deeptech to be made in India for the world; however, what succeeds in India may not necessarily thrive in the US, the writer, a staff scientist at Samsung Semiconductor and an investor with the India-based venture builder platform GrowthStory, writes
The global definition of deeptech focuses on technologies rooted in fundamental sciences or advanced engineering principles aimed at tackling potentially large unsolved market needs. However, this definition doesn’t seamlessly translate to the Indian context due to nuances in venture capitalist’s (VCs) investment outlook. In lieu of a one-size-fits-all definition, categorising Indian deeptech into strategic buckets proves beneficial for guiding VC investments. These buckets align along two axes—the ecosystem to develop and the ecosystem to deliver. The ecosystem to develop refers to India’s capability to develop and validate deeptech, influenced by the resources and innovation of premier institutions like the IITs and IISc, access to specialised talent, and government support. The ecosystem to deliver represents India’s ability to commercialise and scale deeptech businesses, considering market adoption and willingness to pay.
(This story appears in the 20 October, 2023 issue of Forbes India. To visit our Archives, click here.)