On Thursday, the Federation of Telangana Chambers of Commerce and Industry (FTCCI) hosted a pivotal session titled "Catalyzing Deep-tech Innovations towards Global Presence" at their premises in Hyderabad. This event brought together industry experts, scientists, and entrepreneurs to discuss the burgeoning field of deep-tech and its potential to revolutionize various sectors.
Keynote Address by Mr. NM Rao
The session commenced with a keynote address by Mr. N.M. Rao, a distinguished scientist in protein engineering and CEO of the Atal Incubation Center at CCMB. Mr. Rao eloquently described deep-tech as cutting-edge technologies that leverage advanced science and engineering to introduce groundbreaking products to the market. He emphasized that deep-tech startups are characterized by their strong focus on R&D, high entry barriers, intellectual property, complexity, longer time to market, and the need for patient capital.
Trends Shaping Deep-Tech Investment
Mr. Rao highlighted several key trends influencing deep-tech investments, including:
- The increasing importance of sustainability
- Enhanced cross-border collaborations
- A surge in healthcare and biotech innovations
- Proactive government initiatives
- The rapid advancements in AI and quantum computing
He pointed out that despite India's impressive standing as the fifth-largest knowledge generator globally, the country lags in innovation. "Innovation is about making knowledge useful to society," he stated, urging for more concerted efforts to translate scientific knowledge into practical applications.
Hyderabad: A Potential Science Corridor
Mr. Rao noted that Hyderabad is home to numerous central institutions, particularly in the Habshiguda area, which could be developed into a "Science Corridor." He underscored the untapped potential for deep-tech research in fields like veganism, given India's significant vegetarian population juxtaposed with a high prevalence of protein deficiency. He cited cultured meat as an example of an area ripe for innovation.
However, Mr. Rao acknowledged the challenge of finding investors in India who are willing to support the long gestation periods typical of deep-tech ventures. He also discussed the draft National Deep Tech Start-up Policy, which aims to support and nurture deep-tech startups in India, and encouraged public contributions to refine the policy.
Panel Discussion: Building a Global Deep-Tech Ecosystem
Following Mr. Rao's address, a panel discussion on building a global deep-tech ecosystem took place, moderated by Pankaj Dewan, Founder of Idea Labs. Mr. Dewan emphasized the role of youth and startups in driving the future of deep-tech.
The panel featured prominent figures from the IT and life sciences sectors, including Bala Peddigari, Manish Gupta, and Meghna Girish. They discussed the challenges and opportunities within the deep-tech landscape and the critical role of collaboration between academia, industry, and government.
FTCCI's Vision for Deep-Tech in India
Meela Jayadev, President of FTCCI, concluded the session by expressing optimism about India's capacity to lead in deep-tech research. She noted that India is home to nearly 21,000 deep-tech startups, highlighting the nation's readiness to dominate this transformative field.
The session underscored the critical need for strategic investments, supportive policies, and a collaborative ecosystem to harness the full potential of deep-tech innovations, positioning India as a global leader in this domain.
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