Since India's progress is slow in start-up investments, it needs Deep technology for comprehensive social development as well as data security. Explain (200 Words)
Enrich the answer from other sources, if the question demands.
IAS Parliament 5 years
KEY POINTS
· Deep tech, or deep technology start-up companies are based on substantial scientific advances and high tech engineering innovation.
· While TCS and Infosys have established themselves as the global powerhouses in the IT services space, there are no success stories from India when it comes to product innovation in deep technology.
· Start-ups are increasingly driving focus towards the business-to-business (B2B) space, there has been rapid growth in the number of deep-tech start-ups.
There are three key reasons why India desperately needs these deep-tech start-ups to grow, not only in numbers but also in terms of size and valuation.
1. Solutions based on deep tech solve real-life problems in areas like healthcare, fintech, agriculture, and water management. India also has its share of challenges when it comes to food, energy, water and national security.
2. Deep-tech companies can offer alternative job opportunities to our engineers who were sought after by multinational tech companies but are now finding it difficult to move to research labs located out of the country due to tough visa norms.
3. India has one of the highest numbers of STEM (Science, Technology, Engineering and Mathematics) graduates and local deep-tech companies offering opportunity to work on cutting edge platforms can keep the talent within our shores.
Data localisation
· Indian deep-tech companies will help secure the country’s data sovereignty. Access to data is knowledge and knowledge is power.
· Indian authorities have tried to address this concern by bringing in data localisation laws that force multi-national financial companies to keep data related to Indian users within the country.
· One way of addressing it is to create an environment that enables Indian deep-tech companies to flourish.
Problem of scale
· The big worry, though, is that the current approach by policymakers and investors mostly focusses on bringing more people into starting up, but there is not much support for scaling up.
· These technologies can have a big impact, but take a long time to reach market-ready maturity, and require a significant amount of capital to develop and scale.
Shivangi 5 years
Please review.
IAS Parliament 5 years
Good answer. Keep Writing.
Chinna 5 years
Kindly review...thank you...
IAS Parliament 5 years
Good answer. Keep Writing.
Shawn Gabriel 5 years
KINDLY REVIEW PLS!!!
IAS Parliament 5 years
Good attempt. Keep Writing.
