NASSCOM picks 17 deep tech startups under fourth cohort
IT industry body NASSCOM on Friday announced the fourth batch of its 'DeepTech Club,' under which 17 startups have been chosen for mentoring.
Under the fourth cohort, 17 startups were selected for four-month-long guidance, enterprise connect sessions, and exposure to investors, and the global startup ecosystem, according to a statement.
The programme not only intends to promote the creation and evolution of world-class deep tech companies but also helps them getting identified, recognised, and funded by NASSCOM through various programmes, platforms, and events, it added.
With over 1,600 deep tech companies in India in 2019, there has been a spurt in the funding of deep tech startups as investor interest in niche products and platforms has increased significantly.
Technologies such as artificial intelligence (AI), internet of things (IoT), blockchain, machine learning (ML), and virtual reality (VR) are leading the startup space, and attracting interest and activity, NASSCOM noted.
The fourth batch includes startups working in areas like AI, natural language processing, immersive technologies, IoT, computer vision, and quantum computing, the statement said.
They have built use-cases for several verticals, including healthcare, manufacturing, marketing and customer experiences, cybersecurity, public safety, transport infrastructure, and e-Governance, it added.
Some of the startups chosen are, Exxar, and Intelligence Technology.
Prowess in deep tech and artificial intelligence will be one of the main drivers of economic competitiveness in the near future, and deep tech startups will drive innovation and spearhead the broad structural transformation of the economy, NASSCOM President Debjani Ghosh said.
"It is heartening to see Indian startups continue to prove their resilience by developing innovative solutions, that would help society cope with the pandemic on a daily basis. We must ensure the growth trajectory of the startup ecosystem is not derailed by providing them with coordinated support from all stakeholders," she added.