The global deep tech market is predicted to burgeon, with a valuation reaching $714.6 billion by 2031. This promising sector presents a largely untapped arena for scientists, traditionally confined to labs, to explore entrepreneurship. With government initiatives such as the ₹1 lakh crore fund for fostering deep technology, India is set to see a shift of scientists turning their innovations into market-ready solutions.

From Laboratory to Boardroom

Historically, scientists have been seen as secluded inventors, immersed in experiments. However, as Dr. Arindam Ghosh of IISc notes, scientists are ideally positioned to drive this shift due to their deep understanding of the subject. The involvement of faculties like Dr. Manoj Gopalkrishnan from IIT Bombay, who successfully transitioned a molecular computing project into a startup, underscores the shifting narrative toward entrepreneurial science.

Bridging Academia and Business

One challenge lies in overcoming the traditional academic mindset, where researchers stop at proof-of-concept stages. The Indian government’s support through initiatives like IIT Madras’s Incubation Cell demonstrates the change. Such programs have birthed successful companies like Ather Energy, propelling academic ideas into commercial ventures. According to Hindustan Times, the results are substantial, with incubators fostering numerous startups.

Balancing Act: Innovation and Research

The surge in science-backed startups raises concerns about potential neglect of academic duties. Institutions like IISc impose constraints, allowing a limited percentage of time for entrepreneurial pursuits. Dr. Ghosh emphasizes the need for regulations ensuring faculty maintain academic responsibilities while pursuing business ventures, an essential dual focus that promotes both scientific advancement and market utility.

Cultivating an Entrepreneurial Mindset

Dr. Sujay K Biswas of Medinovare illustrates the mindset shift needed for scientists to embrace both knowledge and business. The transition from laboratory to market is not just about technical prowess but also understanding business models and market needs. The venture requires adaptability, where scientists like Dr. Pridharshini Mani choose to channel personal experiences into tangible solutions, like advancing wastewater treatment technologies.

Deep technology development is an arduous process requiring significant R&D and a nuanced understanding of market dynamics. The convergence of patience, financial resources, and strategic market fit is essential for startup success. Dr. Mani’s journey reflects the challenges and learnings associated with bringing complex technologies from conception to commercialization, reinforcing the importance of a robust support ecosystem.

A New Horizon

The push for deep-tech startups represents more than mere economic opportunity; it encapsulates a broader shift towards innovation-driven development. As scientists embrace entrepreneurship, they stand on the cusp of reshaping industries and contributing to India’s burgeoning technology landscape.