Deep-Tech Start-ups Secure Funding Commitments At TIPS 4.0: The 4th National Workshop on Technology Innovation in Cyber-Physical Systems (TIPS 4.0), held on 13th May and 14th May 2024, showcased India’s prowess in deep-tech startups. Organized by the Department of Science and Technology (DST) under the National Mission on Interdisciplinary Cyber-Physical Systems (NM-ICPS), the event was hosted at the Technology Innovation Hub for IoT & IoE (TIH-IoT) at IIT Bombay.
Event Highlights
TIPS 4.0 was a pioneering event, putting deep tech startups at the forefront. It attracted 48 startups and 35 senior venture capitalists and seed investors, marking a significant step forward for India’s startup ecosystem. Notably, 44 startups received promising funding commitments, indicating a positive outlook for innovation and investment in the sector.
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Keynote Speakers and Insights
Distinguished speakers, including Shireesh Kedare, Director of IIT Bombay, and Abhay Karandikar, Secretary of DST, emphasized the importance of transitioning innovations from the lab to the market. Ekta Kapoor, Mission Director of NM-ICPS, stressed the need for strengthening India’s deep tech ecosystem to drive economic growth.
Investor Engagement and Industry Reflections
Investors, such as Sanjay Sehgal from East West Capital Partners, lauded the creativity and innovation displayed by Indian entrepreneurs. Major investment firms expressed continued interest in India’s deep tech space, recognizing its significance in economic growth and technological advancement.
Understanding NM-ICPS
- Mission Objectives
The NM-ICPS aims to foster a thriving ecosystem that encourages entrepreneurship and facilitates the commercialization of Cyber-Physical Systems (CPS) products.
- Establishment of Technology Innovation Hubs
With 25 Technology Innovation Hubs established across India, the mission focuses on key areas like cybersecurity, robotics, and artificial intelligence (AI). These hubs serve as centers for research, development, and innovation.
- Driving Technological Progress
By merging different fields and promoting interdisciplinary collaboration, the mission seeks to propel India to the forefront of global technological advancement.
- Economic Impact
The NM-ICPS contributes to economic growth by creating job opportunities and facilitating the sale of new technologies to the public.
- Collective Efforts and Vision
The mission exemplifies collaboration between academia, industry, government, and international partners to address complex challenges. It aligns with India’s vision of becoming a technologically strong nation.
Conclusion
TIPS 4.0 and the NM-ICPS underscore India’s commitment to fostering deep-tech innovation and driving economic growth through technological advancement. With a focus on collaboration, entrepreneurship, and market-driven solutions, the nation is poised to make significant strides in the global technology landscape.
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