BENGALURU: India is emerging as a powerhouse in the global deep tech landscape, with significant advances in artificial intelligence, green hydrogen, space technology, and biotechnology, according to a new report, which also highlights some of the challenges faced.
The report, “India’s Deep Tech Revolution”, by Speciale Invest and Oister Global, claims that these innovations are driving the nation toward a projected $7 trillion economy by 2030. The report particularly stressed India’s potential to capture 10% of the $700 billion global space economy by the end of the decade.
Speciale Invest is a seed-stage venture capital fund specialising in deep technologies, while Oister Global is into alternative fund investments. As per the report, the projected growth is being fuelled by a combination of returning Indian-origin scientists, robust academic institutions, and increasing private capital investment.
“Govt initiatives, including the National Deep Tech Startup Policy and support programmes through the Biotechnology Industry Research Assistance Council (BIRAC), are providing crucial backing to the sector. Premier institutions like IITs and IISc are playing a vital role in transforming research into commercial technologies,” the report found.
Challenges & recommendations
However, the sector faces significant challenges, including high capital requirements, technology validation hurdles, and market adoption risks. The report recommends that founders build diverse teams and strengthen their intellectual property portfolios, while investors are encouraged to explore alternative funding models, including grants and debt financing.
“India’s deep tech sector is at a defining moment. With cutting-edge innovations across fields like space technology, AI, and green hydrogen, India has the potential to not only transform its economy but also become a global leader in science and engineering-driven solutions,” said Vishesh Rajaram, Managing Partner at Speciale Invest.
As investments to support pioneering startups continue, Rajaram said one can witness firsthand the country’s capacity to solve some of the world’s most pressing challenges. “This report is a call to action for all stakeholders—entrepreneurs, investors, and policymakers—to come together and unlock India’s full potential in the deep tech space. The future is here, and India is poised to lead the charge,” he added.
