Startups jittery as DoT mulls closing first R&D finance scheme early

Startups benefiting from the Digital Communication Innovation Square (DCIS) scheme have urged the government not to stop it midway. The department of telecommunications (DoT) is considering closing down the scheme which supports research, development, product design, and intellectual property (IP) creation in the telecom sector.

In a letter to the telecom secretary Neeraj Mittal, close to two dozen startups have said the continuity of scheme and financing is essential as the R&D journey cycles are fairly long. They have pointed to the lack of interest from investors to fund projects. Moreover, they claim that while the majority of the startups is not self-sustaining yet, they are working on promising solutions.