National Workshop Boosts Deeptech Startups and Investment in India

May 15, 2024

On May 13 and 14, 2024, the 4th National Workshop on Technology Innovation in Cyber-Physical Systems, or TIPS 4.0, took place. The event was put together by the Department of Science and Technology (DST) as part of the National Mission on Interdisciplinary Cyber-Physical Systems (NM-ICPS). It happened at IIT Bombay, more specifically at the Technology Innovation Hub for IoT & IoE (TIH-IoT).

Event Highlights and Participation

TIPS 4.0 was a one-of-a-kind event where, for the first time, deeptech startups were the focus, showing possible investors their new projects. 48 deeptech startups and 35 senior venture capitalists and seed investors from top companies took part in this event. The promising funding commitments made to 44 of these startups were a big step forward.

Keynote Speakers and Statements

Some of the main guests were well-known people, like Shireesh Kedare, Director of IIT Bombay, and Abhay Karandikar, Secretary of DST. Ekta Kapoor, who is the Mission Director of NM-ICPS and the Head of the FFT Division at DST, also said some important things at the end. In their speeches, these leaders stressed the need to move from study to commercialization, help new ideas get from the lab to the market, and make India’s deeptech ecosystem stronger.

Investor Engagement and Industry Reflections

There was also a chance for investors to interact with the businesses. Experienced investors like Sanjay Sehgal from East West Capital Partners praised the creativity and innovation shown by Indian entrepreneurs at the fair. Major investment companies and individual investors said they were still interested in the Indian deeptech space because they understood how important it was for driving economic growth and technological progress.

What is the role of NM-ICPS?

The National Mission on Interdisciplinary Cyber-Physical Systems (NM-ICPS) project brings together people from business, government, science, and other countries.
The goal is to create a thriving ecosystem that encourages people to become entrepreneurs and makes it easier for CPS (Cyber-Physical Systems) products to be sold to the public.
The project has set up 25 Technology Innovation Hubs all over India, which shows that technology growth has come a long way.
These hubs work to improve important technologies like cybersecurity, robots, and artificial intelligence (AI).
The project shows that people all over India are working together to reach the technology and economic goals set for a modernized India.

What is Cyber-Physical Systems (CPS)?

Interdisciplinary Approach: The NM-ICPS merges different fields to improve the creation and use of cyber-physical systems by using experts from different areas.
Innovation Hubs: 25 Technology Innovation Hubs have been set up all over India to serve as hubs for study, development, and new ideas in important areas of technology.
Technological Progress: India wants to be at the top of global technological progress by focusing on cutting-edge technologies like AI, robotics, and cybersecurity.
Effects on the economy: The project helps the economy grow and create jobs by encouraging people to become businesses and making it easier for new technologies to be sold to the public.
Collective Efforts: The project is a great example of how academia, business, the government, and foreign partners can work together to solve complex problems.
Vision for New India: The NM-ICPS supports India’s larger goals of economic growth and technological progress, which is in line with the vision of a new India that is technologically strong.

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