Govt to launch Digital India Innovation Fund for deep tech startups

New Delhi: The government will launch a Digital India Innovation Fund which will support deep tech startups, said Minister of State for Electronics and Information Technology, and Skill Development and Entrepreneurship Rajeev Chandrasekhar on Friday. Deep technology (deep tech) or hard tech is a classification of organisation, or more typically startup company, with the expressed objective of providing technology solutions based on substantial scientific or engineering challenges.

The Minister, however, hasn`t ascertained the quantum of the fund for the time being. He made these remarks during his address to over 1,000 college students as part of the `New India for Young India: Techade of Opportunities` programme at the Catholic Bishop House Campus, Thamarassery, Kerala.

Responding to a question on the issues like job opportunities in the country and migration from Kerala, the Minister said, "Migration is a consequence of lack of hope. But India at the moment is going through an inflection point. The coming decade is going to be India`s Techade. There are tremendous opportunities for young Indians. You won`t get these kinds of opportunities, anywhere outside India. We should always have confidence that this is our land and the action is in India.

"Techade is a portmanteau of technology and decade, which means a decade powered by the impact of technology.