DeepTech, or DeepTechnology focuses on technologies that require significant technical or scientific advances and is used to describe technologically based companies or enterprises that come up with innovative solutions and approaches to addressing big societal challenges such as, for instance, climate change, food production, chronic diseases, waste recycling, etc.
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DeepTech startups in India are at the forefront of innovation in various fields, including AI, blockchain, drones, big data, IoT, cybersecurity, web 3.0, and robotics, working to shape a more intelligent future. Companies like Nayam Innovations, Agara, Intello Labs, Solvio, SenseForth AI, Active AI, and Aigroedge, etc. are heavily focused on advancing artificial intelligence.
In the realm of blockchain technology, businesses such as Arcana, Unocoin, Polygon, Somish, WazirX, Koinex, Mudrex, and Minddeft are actively involved. Blockchain, which acts as a shared and unchangeable ledger, streamlines transaction recording and asset tracking in business networks.For the Internet of Things (IoT), startups like Probus, SenseGiz, Ayasta, Silvan, and NemoCare are making significant contributions. IoT encompasses devices equipped with sensors, processing capabilities, software, and other technologies that enable them to exchange data with other devices and systems over the internet or communication networks. Moreover, in the field of big data and analytics, companies like DataWeave, Flutura, TheMathCompany, Ideata, and Aknamed are driving innovation and solutions.
DeepTech innovation centers on the convergence of market demand, global necessities, and advanced technological capabilities. It focuses on several key areas, including healthcare, climate change, and food sustainability.
In the healthcare sector, there is a growing adoption of AI to expedite drug development, as seen with ventures like Insilico Medicine. AI is also assisting in personalized medical diagnoses, taking into account patients' genetics, disease characteristics, and medical histories, as demonstrated by ventures like PreComb Therapeutics. Additionally, AI aids in ailment detection, with companies like Nirami utilizing non-invasive thermal imaging enhanced by AI to detect breast cancer.Addressing climate change involves the need for zero-carbon electricity generation, exemplified by Oklo, an energy venture developing a compact nuclear reactor fueled by existing nuclear waste. Companies like Carbon Cure are working on technology to control and reduce carbon emissions, involving the injection of CO2 into concrete. Airbus, through its quantum computing center, is researching low-carbon air travel to offer alternatives to existing industries.In the realm of food sustainability, efforts are being made to create alternatives to animal products, such as Shiok Meats' use of stem technology to cultivate meat from shrimp or lobster muscles. Moreover, there is a focus on optimizing agricultural resource usage, including the application of sensors to precisely deliver water, fertilizer, and other resources as needed.
For DeepTech startups to thrive, strategic collaboration, niche market focus, test bed utilization, and investor support are crucial. Government backing, like India's clean energy research initiative and the Telangana government's "Medicine from the Sky" program, provides vital support. Corporate partnerships, demonstrated by over 30 mergers and acquisitions in 2021 and Reliance's $132 million investment in Adverb for a 54% stake, foster growth, and expansion.
Global collaborations open new markets, allow access to local customer bases and facilitate knowledge sharing and R&D cooperation. Niche market targeting ensures rapid growth, less competition, and premium pricing for unique solutions. Testbeds offer controlled environments for showcasing technologies, aiding commercialization and market adoption. Investor support, industry expertise, networks, and shared goals are key factors driving the success and acceleration of DeepTech startups.