Bengaluru: There is a need to scale domestic capital, nurture homegrown funds, and encourage startups to contribute to ‘Aatmanirbhar Bharat’ by developing frontier technologies in India, according to Commerce and Industry Minister, Piyush Goyal.
He said that the government remains committed to strengthening India’s DeepTech ecosystem, enhancing ease of doing business, reducing compliance burden, and promoting innovation and entrepreneurship.
More than 35 DeepTech and semiconductor startups and over 30 leading venture capital firms interacted with Goyal, at a roundtable held in Bengaluru.
“Aligned with the vision of Prime Minister Narendra Modi, for a Viksit Bharat at 2047, efforts are underway to build a future-ready, innovation-led economy,” he mentioned.
The session was hosted by 3one4 Capital Chairman T.V. Mohandas Pai, and Prashanth Prakash, Partner, Accel Partners, in the presence of Startup India, Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, and in association with TiE Bangalore and IVCA.
The discussions focused on strengthening India’s DeepTech ecosystem and identifying policy measures to support innovation-driven growth.
The interaction included discussions with DeepTech and semiconductor startups working in areas such as semiconductor design, artificial intelligence, quantum computing, robotics, advanced materials, and machine learning infrastructure.
According to a ministry statement, startups including Agnit Semiconductors, QpiAI, Nabhdrishti Aerospace, EtherealX, Fabheads, Ethereal Machines, Dozee, Exponent Energy, SignalChip Innovations, and QNu Labs shared their experiences and outlined challenges related to long development cycles, patient capital access, and technology commercialisation.
Investors representing leading funds such as Celesta Capital, Blume Ventures, Avaana Capital, Peak XV, Creagis, and 3one4 Capital shared perspectives on supporting long-term DeepTech innovation, developing sustainable exit pathways, and exploring opportunities for co-investment.
They also discussed policy frameworks that could help strengthen India’s position in global technology value chains.
The discussions concluded with an agreement to continue structured engagement between DPIIT, TiE Bangalore, and the DeepTech ecosystem to identify and address policy priorities.
(IANS)
