Deep tech startup policy likely in forthcoming Budget

The commerce and industry ministry may propose a dedicated policy for deep tech startups to promote innovation, for the forthcoming Budget to be announced by the new government, an official said. Voting for the Lok Sabha polls is over and the counting is scheduled for June 4. The new government is likely to take oath this month. The new government may announce the full Budget for 2024-25 in July.

The official said that startups have to convert their innovation into intellectual property rights and for that extensive R&D is required.