India to soon get VC fund for deeptech startups in defense, aerospace: Ajay Kumar

NEW DELHI: A venture capital (VC)-driven fund will come up soon in India for boosting research and development, and intellectual property (IP) creation of deep technology in the critical sectors of defense and aerospace, a former official of the Ministry of Defence said on Wednesday.

“I and some of my friends take a lot of pride in creating a venture capital fund that focuses on the strategic sectors like defense and aerospace, which requires significantly more capital and risk-taking than software or e-commerce investments,” Ajay Kumar, former Secretary of the Ministry of Defence said at an industry conference.