Minister Flags Off Sem AI Deep Tech Meet in Bangalore

· DPIIT, TiE Bangalore, and DeepTech Ecosystem to Establish Structured Engagement for Advancing Long-Term Innovation

The roundtable, hosted by T.V. Mohandas Pai (Chairman, 3one4 Capital) and Prashanth Prakash (Partner, Accel Partners), was organized in association with Startup India, DPIIT, TiE Bangalore, and IVCA. It brought together over 35 DeepTech and semiconductor startups and 30 venture capital firms to discuss policy measures for strengthening innovation-driven growth.

Union Minister of Commerce & Industry, Piyush Goyal, reaffirmed the Government’s commitment to strengthening India’s DeepTech ecosystem, enhancing Ease of Doing Business, reducing compliance burden, and promoting innovation and entrepreneurship.

Startups working in semiconductor design, AI, quantum computing, robotics, advanced materials, and machine learning infrastructure shared their experiences and challenges, including access to patient capital, long R&D cycles, and technology commercialization.

Investors from Celesta Capital, Blume Ventures, Avaana Capital, Peak XV, Creagis, and 3one4 Capital emphasized the need for policy frameworks to support DeepTech innovation, sustainable exit pathways, and India’s participation in global technology value chains.

Key policy suggestions included:

· Extending Startup India recognition benefits for DeepTech ventures beyond the current 10-year limit.

· Greater clarity on grant accounting and FCRA rules for R&D funding.

· Targeted tax incentives for private investment in innovation.

· Flexibility in fund regulations and reforms in DSIR registration norms to facilitate R&D access for early-stage startups.

It was agreed to establish a structured follow-up mechanism between DPIIT, TiE Bangalore, and the DeepTech ecosystem to track progress and identify actionable recommendations.

T.V. Mohandas Pai emphasized that sustained policy support is critical to strengthen India’s DeepTech foundations, while Madan Padaki, President, TiE Bangalore, lauded the Government’s proactive engagement with the innovation ecosystem.

The Bengaluru roundtable forms part of a continuing dialogue series aimed at enabling India’s transition toward an innovation-led, technology-driven economy.

[ABS News Service/01.11.2025]

Union Minister of Commerce & Industry, Piyush Goyal, said that the Government remains committed to strengthening India’s DeepTech ecosystem, enhancing Ease of Doing Business, reducing compliance burden, and promoting innovation and entrepreneurship at a roundtable held in Bengaluru on31 October, 2025. More than 35 DeepTech and semiconductor startups and over 30 leading venture capital firms interacted with Piyush Goyal, at a roundtable.

The Minister said that, aligned with the vision of the Prime Minister, Narendra Modi, for a Viksit Bharat @2047, efforts are underway to build a future-ready, innovation-led economy. The Minister also emphasized the importance of scaling domestic capital, nurturing homegrown funds, and encouraging startups to contribute to Aatmanirbhar Bharat by developing frontier technologies in India.

The session was hosted by Chairman, 3one4 Capital, T.V. Mohandas Pai, and Partner, Accel Partners, Prashanth Prakash, in the presence of Startup India, Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry and in association with TiE Bangalore and IVCA. The discussions focused on strengthening India’s DeepTech ecosystem and identifying policy measures to support innovation-driven growth.

The interaction included discussions with DeepTech and semiconductor startups working in areas such as semiconductor design, artificial intelligence, quantum computing, robotics, advanced materials, and machine learning infrastructure. Startups including Agnit Semiconductors, QpiAI, Nabhdrishti Aerospace, EtherealX, Fabheads, Ethereal Machines, Dozee, Exponent Energy, SignalChip Innovations, and QNu Labs shared their experiences and outlined challenges related to long development cycles, patient capital access, and technology commercialization.

Investors representing leading funds such as Celesta Capital, Blume Ventures, Avaana Capital, Peak XV, Creagis, and 3one4 Capital shared perspectives on supporting long-term DeepTech innovation, developing sustainable exit pathways, and exploring opportunities for co-investment. They also discussed policy frameworks that could help strengthen India’s position in global technology value chains.

Key issues highlighted during the interaction included the need to extend Startup India recognition benefits for DeepTech ventures beyond the current 10-year limit, improve clarity around grant accounting and FCRA-related rules for R&D funding, and introduce targeted tax incentives to encourage private investment in innovation. Participants also emphasized the need for flexibility in fund regulations and reforms in DSIR registration norms to enable early-stage DeepTech startups to access R&D-linked benefits.

The discussions concluded with an agreement to continue structured engagement between DPIIT, TiE Bangalore, and the DeepTech ecosystem to identify and address policy priorities. A follow-up mechanism will be established to review progress and document actionable recommendations for supporting long-term innovation.

Chairman, 3one4 Capital, T.V. Mohandas Pai, said that sustained policy support and long-term commitment are essential to strengthen India’s DeepTech foundations and global competitiveness. President, TiE Bangalore, Madan Padaki, said that the interaction demonstrated the Government’s commitment to supporting technological innovation and fostering collaboration between policymakers, startups, and investors.

The Bengaluru roundtable will serve as part of a continuing dialogue series aimed at enabling India’s transition toward innovation-led, technology-driven growth.