Deep-Tech Opportunity

GREAT NATIONS rarely lead the world until they learn to push the frontiers of technology. Until their entrepreneurs radiate the confidence of industry disruptors. And until their companies execute the dreams of these entrepreneurs.

Today, there lies a great challenge in deep-tech, defined as ‘disruptive solutions around unique, protected or hard-to reproduce technological or scientific advances’ by global consulting firm BCG. While International Finance Corp. says deep-tech companies are R&D intensive and multi-disciplinary, working on technologies based on scientific or engineering breakthroughs that have commercialisation potential. These include artificial intelligence (AI), machine learning, materials, advanced manufacturing, biotechnology, nanotechnology, drones, robotics, photonics, electronics, clean-tech, space-tech and life sciences.

India’s march towards Viksit Bharat (developed nation) needs to nurture an array of breakthroughs in these areas to place the nation on its rightful pedestal. Hundreds of deep-tech businesses are emerging in sectors such as space, healthcare, AI and robotics, mobility and infrastructure, among others. About 14% of all funding to India’s start-ups in the past five years went to deep-tech start-ups, according to a Nasscom-Zinnov report. Of that, AI and data companies alone cornered at least one-fifth. India’s draft National Deep Tech Start-up Policy 2023 says India has 10,298 DPIIT-recognised deep-tech start-ups as of May 2023.

There are remarkable breakthroughs in Platform Tech (CynLr, Astrome Technologies); Sustainability (Newtrace, Uravu Labs, ePlane Company); AI and Internet of Things (Lab To Market Innovations; Simyog Technology, 5C Network). Many of these are already entrusted with investments of hundreds of million dollars to continue their quest. Read a gripping story by Joe C. Mathew on how they are disrupting industries, opening up billions of dollars of business opportunities for themselves and the country.

Next, India is implementing aviation tech breakthrough Digi Yatra as a seamless, paper-less, delay-free face/Aadhaar-based air travel solution. The country — one of the earliest implementors of the tech that makes airport entry and exit brisk and hassle-free — is set to implement it at 28 airports. But the ascent of Digi Yatra has its fair share of challenge. Read aviation specialist Anjuli Bhargava’s insightful piece.

Meanwhile, one of India’s most loved brands ‘Amul’ is also breaking a new frontier — entering the U.S. market with its core product milk, besides milk products such as paneer. Amul has bravely set foot in the U.S. at a time when the U.S. milk market itself has shrunk 2-3%. Read Ajita Shashidhar’s story on how Amul intends to enter American homes, besides those of the more familiar Indian-Americans.

Fortune India’s special package this month is the annual Luxury Special that captures the business of luxury and experiential luxury in equal measure. This year’s package has been carefully crafted with a range of exciting stories: Evolution of luxury; new trends of pre-loved luxury and quiet luxury; sleek cars, luxury cruises; gourmet food; best-in-class spirits and craft chocolates; how perfumers of Kannauj are re-inventing; dressing in Italian suits; not to mention the royalty, luxury designers as well as the delightful spread of the Objects Of Desire. Enjoy these offerings.