Research funding on Deep technology

Context- The Finance Minister has recently announced a Rs 1 lakh crore fund to provide long-term, low-cost or zero-interest loans for research and development.

About Deep technology

• Deep tech refers to superior and disruptive technologies which have the ability to trigger transformative change, and offer solutions for the future.
• The term is used to describe present day research in nanotechnology, biotechnology, fabric sciences, quantum technology, semiconductors, synthetic intelligence, statistics sciences, robotics, 3D printing, and so on.

Advantages of Deep technology

• Solving Complex Problems: These technologies play a key function to address complicated global demanding situations like weather exchange, hunger, epidemics, strength get right of entry to, mobility, bodily and virtual infrastructure, and cyber safety.
• Increased Efficiency: Deep technologies enhance productivity by automating repetitive tasks, optimizing strategies, and permitting predictive analytics. This ends in cost financial savings, advanced useful resource utilization, and faster decision-making.
• Enhanced Decision-Making: Deep learning algorithms and predictive analytics empower organizations to make data-driven choices based totally on insights extracted from big datasets. This enables better forecasting, threat control, and strategic planning.
• Job Creation: While deep technologies might also automate certain tasks, they also create new opportunities for professional workers in areas inclusive of software program improvement, data technology, engineering, and research. This contributes to economic growth and employment generation.

Challenges for Deep technology

• The deep tech initiatives are time- and money-in depth, with enormously high investment requirements.
• Inadequate budget: India’s expenditure on research is a long way below the global avtechnologyge. Absolute spending has expanded, however expenditure on research as a share of GDP has come down.
• India presently spends just about 0.Sixty five% of its countrywide GDP on research and improvement activities while the worldwide common is about 1.Eight%.
• Bureaucratic delays: Even wherein budget are to be had, delays and interruptions in disbursal frequently influences initiatives. Complex bureaucratic necessities make contributions to delays.
• Reduced finances allocation: Also in recent budget allocation the very best increase is for CSIR, ( approximately 9%), and the Department of Space has received most effective a 4% increment.
• The finances of the Departments of Atomic Energy and Biotechnology, and the Ministry of Earth Sciences were reduced.

The National Deep Tech Startup Policy (NDTSP)

• It changed into piloted by means of the Department for Promotion of Industry and Internal Trade and the Office of the Principal Scientific Adviser, and is presently awaiting government approval.
• The concept is to create a deep tech startup environment by presenting the right incentives to companies that invest time and money in innovation and research.
• The NDTSP indicates the stairs that need to be taken on this regard:
  • Create opportunities for lengthy-term investment;
  • A simplified however stronger highbrow property rights regime;
  • Tax incentives;
  • A conducive regulatory framework;
  • Development of requirements and certifications;
  • Nurturing of skills; and
  • Linkages among industry, research facilities, and educational establishments.

Way Forward

• With the current initiative Startups and different private zone ventures will gain seed money for their tasks and are expected to get benefitted.
• However to raise R&D spending there may be a want to have expanded partnership with the private zone.
• Efforts are being made to create higher synergies among industry, research labs, and academic establishments so as to broad-base both research activity and the funds to support it.

Source: Indian Express

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