(MENAFN- KNN India) Bengaluru, Nov 1 (KNN) Reaffirming the Government's vision for an innovation-driven economy, Union Minister of Commerce & Industry Piyush Goyal emphasized continued efforts to build a robust DeepTech ecosystem, simplify business processes, and promote entrepreneurial growth across India during a high-level roundtable with DeepTech and semiconductor startups held in Bengaluru on Friday.

The interaction brought together over 35 DeepTech and semiconductor startups and more than 30 leading venture capital firms, offering a platform for open dialogue on scaling India's innovation-driven industries.

The Minister emphasized that, in line with the vision of Prime Minister for a Viksit Bharat @2047, the government's focus is on building a future-ready, innovation-led economy. He highlighted the importance of scaling domestic capital, nurturing homegrown funds, and encouraging startups to contribute to Aatmanirbhar Bharat by developing frontier technologies within India.

The session was hosted T.V. Mohandas Pai, Chairman of 3one4 Capital, and Prashanth Prakash, Partner at Accel Partners, in the presence of Startup India, Department for Promotion of Industry and Internal Trade (DPIIT), and the Ministry of Commerce & Industry, in association with TiE Bangalore and IVCA. Discussions centered on policy measures and ecosystem initiatives to drive DeepTech innovation and global competitiveness.

Startups such as Agnit Semiconductors, QpiAI, Nabhdrishti Aerospace, EtherealX, Fabheads, Ethereal Machines, Dozee, Exponent Energy, SignalChip Innovations, and QNu Labs showcased their progress and shared challenges around long development cycles, access to patient capital, and technology commercialization.

Leading investors from Celesta Capital, Blume Ventures, Avaana Capital, Peak XV, Creagis, and 3one4 Capital contributed insights on fostering long-term DeepTech investment, enabling sustainable exit pathways, and strengthening India's role in global technology value chains. They also called for policy reforms to encourage co-investment and streamline regulatory frameworks for innovation.

Key issues discussed included extending Startup India recognition benefits beyond the current 10-year limit for DeepTech ventures, improving clarity around grant accounting and FCRA norms for R&D funding, introducing targeted tax incentives, and reforming DSIR registration processes to help early-stage startups access R&D-linked benefits.

The roundtable concluded with an agreement to maintain structured engagement between DPIIT, TiE Bangalore, and the DeepTech ecosystem to identify ongoing policy priorities. A follow-up mechanism will be established to track progress and implement actionable recommendations that support long-term innovation growth.

Commenting on the session, T.V. Mohandas Pai said that sustained policy support and long-term commitment are essential to strengthening India's DeepTech foundations and enhancing our global competitiveness.

Madan Padaki, President of TiE Bangalore, said that the interaction demonstrated the Government's commitment to supporting technological innovation and fostering collaboration between policymakers, startups, and investors.

(KNN Bureau)

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