There is this incorrect narrative going around that India does not have deep tech startups. And that we only do food delivery or taxi type apps. That is because those services are more visible and can be implemented quickly. Deep tech on the other hand needs more time and patient capital. Rome wasn’t built in a day. An app can be built in a week.
Today the 500th entry on my excel sheet of globally eminent members of the Council and fellow iit alumnus M.A.Maluk Mohamed informed me that twin health, a deeptech startup closely watched and supported by the Council crossed usd 300 million (not in valuation but) in funding, is rated as the fastest growing company in the world and will be ready for an ipo end of this year. Few have heard of this company because they don’t provide taxis or food or clothes or books. But they have tens of thousands of customers paying rs one lac each pa to reverse their diabetes. And most of these customers are outside India. They have tier 1 investors like Temasek and I don’t think they have a penny of subsidy or help from the indian govt. The best thing for the govt to do is to stay out of deeptech. Fortunately they are doing a good job of it.
responses to our proposal calls have gone up from 10-15 per call to 800-1000. And we only do deeptech.