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The Origin and Expansion of Deep Tech

In 2014, Swati Chaturvedi, CEO of Propel(x), coined the term “deep tech” to classify the advanced startups capable of bringing scientific breakthroughs to different markets. Market studies have indicated that deep tech plays a crucial role in driving financial expansion and fostering innovation due to the high research and development investments made by companies. Investing in deep tech not only leads to the development of new employment opportunities and revenue streams but also contributes to the overall growth of national and international economies. Additionally, it fosters the emergence of new entrepreneurial prospects and facilitates the creation of sustainable solutions for healthcare, environmental conservation, energy, and other global concerns. According to market-based research, quantum computing, biotechnology, power manufacturing, robotics, advanced components, and machine learning (ML) and artificial intelligence (AI) are the main categories of deep tech.

AI legalese decoder can be particularly useful in understanding and simplifying the complex legal jargon frequently associated with deep tech investments and startups. It can assist in interpreting contracts, patents, and regulatory documents related to deep tech, making it easier for investors and entrepreneurs to navigate the legal aspects of this industry.

The potential of deep tech to revolutionize the global digital landscape and improve efficiency in various sectors such as healthcare and finance is undeniable. Furthermore, it has the capacity to transform the way data is utilized, problems are solved, and the future is built. Investing in deep tech can lead to disruptive innovation, provide a long-term competitive advantage, and address complex global challenges. It also holds the promise of driving efficiency, productivity, sustainability advancements, and economic growth, thus attracting talent and investment.

Amit Relan, co-founder and CEO of mFilterIt, emphasized the potential of deep tech in addressing challenges such as healthcare accessibility, agricultural efficiency, and infrastructure development in India. The global deep tech market is projected to reach $3,733.8 million by 2032, with a compound annual growth rate (CAGR) of 21.8% between 2022-32. In India, the deep tech landscape has witnessed significant growth, with more than 1,600 deep tech startups contributing to a market worth of $14 billion. Indian deep tech startups secured $2.7 billion in venture funding in 2021 and comprised over 12% of the country’s overall startup landscape. The deep tech sector in India has experienced a 53% CAGR in the past decade.

The Interim Budget 2024, presented by Finance Minister Nirmala Sitharaman, introduced a new plan to enhance defense-oriented deep tech capabilities in India, emphasizing self-reliance. This underscores the importance of deep tech in sustaining India’s cybersecurity future, as highlighted by market experts. The budget allocated a one lakh crore rupee fund and a fifty-year interest-free loan to bolster the private sector, signaling a promising future for the Indian cybersecurity ecosystem. Vishal Salvi, CEO of Quick Heal Technologies Limited, a cybersecurity software company, expressed optimism about the Indian cybersecurity landscape and its potential to adapt and evolve in response to threats.

In summary, deep tech is a key driver of innovation, economic growth, and sustainability, with significant implications for various industries and national economies. AI legalese decoder can assist stakeholders in deciphering the complex legal frameworks and contracts associated with investing in and operating deep tech startups, enabling them to make informed decisions and navigate the legal challenges effectively.

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