Sustained government efforts in this direction have increased the number of recognized Startups from 471 in 2016 to 72,993 in 2022. Furthermore, the Department of Science and Technology (DST) launched an umbrella program called the National Initiative for Developing and Harnessing Innovations (NIDHI) in 2016 to nurture ideas and innovation (knowledge-based and technology-driven) into successful startups. Under NIDHI, different programs range from providing fellowships to the students opting for entrepreneurship through programs such as the Entrepreneurs-In-Residence (EIR) and Promoting and Accelerating Young and Aspiring Innovators and Startups (PRAYAS) by providing financial support for converting ideas into prototypes, availability of early-stage seed support to incubated ventures, providing mentoring and investment readiness support through Accelerators, and creating Centres of Excellence in incubation.

The Department of Biotechnology, through the Biotechnology Industry Research Assistance Council (BIRAC), supports and nurtures startups in the biotechnology sector to promote innovations in the biotechnology sector. The major schemes are BioNEST Scheme (Bio incubators Nurturing Entrepreneurship for Scaling Technologies) and Biotechnology Ignition Grant (BIG).

The Department of Defense Production launched Innovations for Defence Excellence (iDEX) to achieve self-reliance and foster innovation and development in defense and aerospace. iDEX engages industries and academia through grants for carrying out R&D. The startups may receive up to Rs 1.50 Crore as a grant for developing innovative prototypes. iDEX’s partner incubators at IITs, IIMs, and other private incubators spread all over the country also extend enormous support.

Until recently, Indian telecom players went abroad to test their products for installation in a 5G network. India’s first 5G testbed addresses this dependency by supporting the telecom industry and startups. It provides a domestic platform for validating prototypes, solutions, and products in 5G. This allows tech companies to use the testbed to integrate the new features, functionalities, and capabilities of 5G. This will help develop new use cases by promoting early prototyping and experimentation of new 5G features, building new products and solutions, and driving innovation.

While 5G tests and validates advanced R&D initiatives and incubates ideas, it also highlights the inherent challenges in deploying new 5G technologies. This leads to developing solutions that move the projects closer to commercial viability.

The efforts are visible for all to see. The government has an active interest in fostering the next global revolution. It has been said that the Industrial Revolution was primarily the reason for the worldwide polarity in the nineteenth and twentieth centuries. It is also how European powers went on to colonize large parts of the world. However, the next revolution in the information age can have a more significant impact. Where India will be in the next revolution is yet to be seen; however, it might just come out on top.

Girish Linganna is a Defense & Aerospace analyst and is the Director of ADD Engineering Components (India) Pvt Ltd, a subsidiary of ADD Engineering GmbH.

Image: Reuters.