DEEP TECH FUND (Syllabus: GS Paper 3- Science)

News-CRUX-10     6th February 2024        
output themes

Context: The interim union budget for FY25 announced the setting-up of a ₹1 trillion-corpus to fund deep-tech ventures.

Deep tech fund

  • Objectives:

oFoster innovation and research in deep-tech sectors.

oReduce reliance on foreign technology by promoting indigenous development.

oPosition India as a global leader in deep-tech innovation and entrepreneurship.

oSupport startups and enterprises working on cutting-edge technologies.

  • Size of Fund:

o₹1 trillion corpus allocated for deep-tech ventures.

oSignificant but smaller compared to global counterparts.

  • Deep-Tech Fund Sectors of Focus:

oSemiconductors

oArtificial Intelligence (AI)

oQuantum Computing

oHigh-tech Manufacturing

oClimate-tech

oSpace Technology

  • Need for Government Support: Deep-tech sectors require substantial funds due to long development phases and Government funding essential for fostering foundational industries.
  • Sectoral Allocation: Initial focus on strategic sectors such as semiconductors and quantum communications and Other sectors to follow through proposal-based application framework.
Samadhaan