Startups on new-age tech surge in India

A maturing ecosystem and tailwinds on the digital front due to Covid have expanded the ‘deep technology’ component of the Indian startup ecosystem. Deep tech includes the use of emerging and new-age tech such as AI, machine learning (ML), augmented & virtual reality, blockchain, robotics and 3D printing.

At 19%, now nearly one in five tech startups are leveraging deep-tech solutions for their businesses. The pool of deep-tech ventures is expanding at a five-year compounded annual growth rate (CAGR) of 41% — faster than the overall ecosystem, a study said.

Over 2,100 startups adopted deep technologies in their ventures as of 2020, up from the over 1,600 in 2019. Further, 14% of the total startup investments in 2020 were in deep-tech ventures, higher than the 11% in 2019.