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First of Its Kind – The NASSCOM DeepTech Club

Blog: NASSCOM Official Blog

In India, the unmet demand in almost every sector provides a massive opportunity for companies (particularly startups) to make a difference to a million lives. Often, traditional methods don’t do justice and we require continuous innovation through deeptech – AI, ML, IoT, Blockchain, Mixed Reality, Robotics, Drone, Cryptography – to solve complex problems.

Our study indicates that 18% of the total startup base (9300) i.e. approximately 1800 companies had already diffused deeptech in their business model and the pace of adoption was a rapid 40% CAGR. These companies are substantially differentiated from the rest, and during the crisis, it got another 50% to want to adopt deeptech and pivot. Of course, it can’t simply be a “lift and shift” kind of approach because these technologies can have a bleeding-edge and unless the right competencies exist, the results will not be forthcoming.

The DeepTech Club at NASSCOM (NDTC) was set up three years back – the first of its kind – and to date, 80 companies from 13 verticals have been inducted. Our four cohorts have identified, curated, recognized, nurtured, and promoted these companies by leveraging the NASSCOM platform and the wider ecosystem.

It is a three-stage process to induction: Application, Short-listing & On-boarding. But I daresay, we are picky when it comes to taking new people in and we haven’t wavered from our stingy acceptance rate of 5% either. Neither do we intend to in the future. But when it comes to selecting companies based on revenue, we’ve been quite generous actually – pre-launch companies (no revenue), early-stage ones (revenue upto 100k $), those in the growth-stage (revenue upto 1 mn $) and the mature ones, well beyond 1 million dollars, have all made the cut.

Companies have sought mentoring & support services in diverse areas, such as Enterprise Connect, Fund Raising, GTM Strategies, Talent Management, and of course, Tech Support. Cumulatively, NDTC has delivered more than 850 hours of personalized mentoring with sustained commitment from 60+ industry experts and domain specialists. This kind of rigour has led to 1100 connects being established, and to the participants’ credit, optimally leveraged. A case in point being the funding opportunities NDTC created: more than 70 million $ were raised in various rounds.

To give you a fair idea, here are a few prominent examples from NDTC:

Call it the NEW NORMAL or the Contact-less economy, customer experience will have to be re-imagined to address safety and accessibility as well. We haven’t talked about drones in the new scheme of things. Is this the Aha moment for this kind of advanced technology?

The nation is right up there in terms of technical capabilities but we need an ecosystem that fosters differentiated thinking to create massive pathways to innovation-led economic growth. As a pathfinder, or better still, a path-creator, the NASSCOM Deep Tech Club can play a pivotal role.

The post First of Its Kind – The NASSCOM DeepTech Club appeared first on NASSCOM Community |The Official Community of Indian IT Industry.

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