Perspective : India's Startup Ecosystem | 16 January, 2023

Summary

The 'Perspective' show delves into India's thriving startup ecosystem, highlighting the impact of the Startup India initiative launched in 2016. With a surge from 471 to 84,000 startups by 2022, India stands as the world's third-largest startup hub, boasting 107 unicorns. The discussion features Dr. Jagdish Gupta, a national startup awardee, who shares his journey with Fruity Tech, a venture enhancing fruit and vegetable shelf life. Experts emphasize the ecosystem's growth, innovation in IP protection, and the need for increased R&D investment, market-driven challenges, and the importance of a multi-dimensional approach to product commercialization.

Takeaways

• 🇮🇳 The 'Startup India' initiative was launched in 2016 to foster innovation and encourage private investments in the startup ecosystem.
• 🏆 In 2020, the National Startup Awards were introduced to recognize and reward outstanding startups and ecosystem enablers.
• 🌟 India is recognized as the third-largest startup ecosystem globally, with 107 unicorns and a significant increase in the number of startups from 471 in 2016 to 84,000 in 2022.
• 🚀 The government has implemented various initiatives under the Startup India program, including funding schemes, regulatory reforms, and support for intellectual property protection.
• 💡 Fruity Tech, winner of the National Startup Awards 2022, develops technology to enhance the shelf life of fruits and vegetables by inhibiting the ethylene gas production.
• 🛒 Fruity Tech's technology can be applied at various levels of the supply chain, from farmers to consumers, and is in the pre-commercialization stage with nine patents filed.
• 📈 The startup ecosystem has seen strategic growth, with startups contributing significantly to solutions for Indian challenges and the creation of intellectual property.
• 💼 The ecosystem is largely funded by venture capitals, but it faces challenges such as funding winters and regulatory costs, which are areas needing improvement.
• 🌱 The government's role is to create an enabling environment with less intervention and regulatory requirements to let startups grow and achieve scale.
• 💡 The conversation highlighted the need for more support in taking innovative products to market, especially at the Technology Readiness Level (TRL) 9, for commercialization.
• 🔬 There is a call for increased government investment in R&D, particularly in deep tech sectors, to aid in the conversion of research into market-ready products.

Q & A

What is the primary goal of the Startup India initiative launched in 2016?

The primary goal of the Startup India initiative is to build a robust ecosystem for nurturing innovation and startups, and to encourage private investments in the startup ecosystem of the country.

When were the National Startup Awards introduced, and what is their purpose?

The National Startup Awards were introduced in 2020 to recognize and reward outstanding startups and ecosystem enablers.

How has India's startup ecosystem grown in terms of the number of startups since 2016?

The number of startups in India has increased from 471 in 2016 to approximately 84,000 in 2022.

What is the significance of the term 'Fruit Tech' as mentioned in the script?

Fruit Tech refers to 'Fruit and Vegetable Technology,' which deals with the development of technologies to enhance the shelf life of fruits and vegetables.

What is the role of ethylene in the ripening of fruits, and how does Fruit Tech address this?

Ethylene is a gaseous hormone produced by fruits during ripening. Fruit Tech develops formulations that can inhibit ethylene production, thereby delaying the ripening process and extending the shelf life of fruits.

How does the government support startups in terms of intellectual property protection?

The government supports startups by providing initiatives such as self-certification under labor and environmental laws, income tax exemption for three years, and easier patent filing processes.

What is the current stage of Fruit Tech in terms of market entry?

Fruit Tech is in the pre-commercialization stage, having developed five different products for various levels of the supply chain and filed nearly nine national and international patents.

What are some of the challenges faced by the startup ecosystem in India, as mentioned in the script?

Some challenges include the difficulty in raising funds during the so-called funding winter, decreasing valuations, and the need for less regulatory intervention to allow startups to grow and achieve scale.

How does the government's enabling mechanism support the development of startups from ideation to commercialization?

The government provides various schemes and grants, connects startups with incubators, offers funding support, and creates an environment with fewer regulatory requirements to facilitate the growth of startups.

What is the importance of a multi-dimensional approach in evaluating a startup's success, as discussed in the script?

A multi-dimensional approach considers not only the technological aspect but also the commercial value and societal acceptance of a product, which are crucial for its success in the market.

What suggestions were made in the script for improving the conversion of R&D into market-ready products?

Suggestions include increasing government investment in R&D, allowing private forces and market forces to access grants currently absorbed by public universities, and expanding funding to researchers in private universities and commercial organizations.

Outlines

00:00

🌟 Launch and Growth of India's Startup Ecosystem

The video script introduces the topic of India's startup ecosystem, highlighting the inception of the Startup India initiative in 2016 aimed at fostering innovation and private investment. By 2020, the National Startup Awards were established to recognize exceptional startups. India now ranks as the third-largest startup ecosystem globally, with a significant increase in the number of startups and the emergence of 107 unicorns. The government has implemented various initiatives such as the Startup India Action Plan, funding schemes, regulatory reforms, and intellectual property protection to support the ecosystem. The discussion will focus on analyzing these mechanisms and the overall progress of the startup ecosystem in India.

05:00

🚀 Journey and Impact of India's Startup Ecosystem

This paragraph delves into the remarkable growth journey of India's startup ecosystem, which has seen a transformation from a nascent stage to a global player with 84,000 startups and 107 unicorns. The script discusses the role of dedication, hard work, and the appeal for India to design its solutions, leading to strategic growth and intellectual property creation. The startup ecosystem's response to the COVID-19 pandemic, with innovative designs for ventilators and diagnostic kits, is highlighted as a significant contribution. The conversation also touches on the enabling mechanisms and the industry's role in leveraging entrepreneurial ideas for economic growth.

10:03

💡 Challenges and Government Support for Startups

The script addresses the current challenges faced by the startup ecosystem, including funding difficulties during the so-called 'funding winter,' where successive investment rounds are becoming harder to secure and valuations are decreasing. The panelists discuss the government's role in creating an enabling environment, reducing regulatory costs, and the need for the ecosystem to solve market-driven issues independently. The conversation also compares the focus on R&D in developed countries with the potential for increased government investment in India to support deep tech and innovation, emphasizing the importance of converting R&D into marketable products.

15:04

🛠️ Dr. Jagdish Gupta's Fruity Tech Innovation

Dr. Jagdish Gupta, the founder of Fruity Tech, shares his startup's journey and innovation in developing technologies to enhance the shelf life of fruits and vegetables. The technology targets the ethylene hormone to delay the ripening process, applicable across the supply chain from farmers to consumers. The startup has received government grants, is in the pre-commercialization stage with five different products, and has filed for patents. The discussion highlights the support from various government schemes and the need for further assistance in bringing the product to market.

20:05

🌱 Multi-Dimensional Evaluation of Startups

The panelists discuss the importance of a multi-dimensional approach to evaluating startups, considering not only technological readiness but also commercial viability and societal acceptance. The script emphasizes the need for a balanced evaluation model to ensure the success of innovative products in the market. The conversation points out the improvements in the intellectual property rights landscape in India and the reduction in the mortality rate of startups, indicating the maturity of the ecosystem. The discussion also calls for more government investment in R&D and a reform in the distribution of grants to foster innovation beyond public universities.

25:06

📚 Conclusion and Future Outlook for India's Startup Ecosystem

The final paragraph wraps up the discussion on India's startup ecosystem, summarizing the insights shared by the panelists regarding policies, enabling mechanisms, and the challenges that lie ahead. The script acknowledges the need for continued efforts to support startups in their journey from ideation to commercialization and emphasizes the importance of market forces in determining the success of a product. The video concludes by expressing hope for the future impact of innovative products like Dr. Jagdish Gupta's on the market and the ecosystem.

Keywords

💡Startup Ecosystem

A startup ecosystem refers to the network of organizations, individuals, and resources that support the creation and growth of new businesses. In the video, India's startup ecosystem is highlighted as the third largest in the world, emphasizing the country's significant progress in nurturing innovation and entrepreneurship. The script discusses the growth from 471 startups in 2016 to over 84,000 in 2022, showcasing the ecosystem's expansion and the government's role in promoting it.

💡Startup India Initiative

The Startup India Initiative is a government program launched in 2016 aimed at fostering innovation and entrepreneurship in the country. The script mentions this initiative as a key driver behind the strengthening of India's startup ecosystem, with various schemes and policies introduced to support startups, such as funding support, regulatory reforms, and intellectual property protection.

💡National Startup Awards

The National Startup Awards are an annual recognition program started in 2020 to acknowledge and reward outstanding startups and ecosystem enablers in India. Dr. Jagdish Gupta, a panelist in the video and the founder of Fruity Tech, is a winner of this award, which underscores the significance of such recognition in motivating and validating the efforts of startups.

💡Fruity Tech

Fruity Tech, as described in the script, is a startup focused on developing technologies to enhance the shelf life of fruits and vegetables. The company's innovation lies in formulating a product that can inhibit ethylene, a gaseous hormone associated with fruit ripening. This technology is adaptable across the supply chain, from farmers to consumers, and is a practical example of a startup addressing a specific problem in the food industry.

💡Ethylene

Ethylene is a plant hormone that plays a key role in the ripening process of fruits. In the context of the video, Fruity Tech has developed a formulation that can regulate ethylene production, thereby delaying the ripening process and extending the freshness of fruits and vegetables. This is a crucial aspect of the company's technology and its potential impact on the food supply chain.

💡Technology Readiness Level (TRL)

Technology Readiness Level is a scale used to measure the maturity of a technology, ranging from TRL 1 (basic principles observed) to TRL 9 (actual system proven in operational environment). The script refers to the need for support in taking products from TRL 3 to TRL 9, indicating the journey from initial development to market readiness, which is a critical phase for startups like Fruity Tech.

💡Intellectual Property (IP)

Intellectual property refers to creations of the mind, such as inventions, literary and artistic works, designs, and symbols, names, and images used in commerce. In the video, the government's support for IP protection is highlighted as a crucial aspect of the startup ecosystem. Fruity Tech, for instance, has filed nearly nine national and international patents, showcasing the importance of IP in safeguarding a startup's innovations.

💡Innovation

Innovation is the process of translating an idea or invention into a good or service that creates value or for which customers will pay. The video emphasizes the role of innovation in the startup ecosystem, with examples like Fruity Tech's technology to extend the shelf life of produce. The Indian startup ecosystem is portrayed as a hotbed of innovation, particularly in emerging technologies like AI and IoT.

💡Commercialization

Commercialization is the process of making an innovation available to the public for its intended use. The script discusses the challenges and the need for support in the commercialization phase, where startups must transition from developing a product to bringing it to market. This is a critical step in the lifecycle of a startup and a focus area for government support and policy.

💡Regulatory Reforms

Regulatory reforms refer to changes made to improve the efficiency and effectiveness of regulations that govern business activities. In the video, the Indian government's efforts in regulatory reforms are mentioned as part of the Startup India Initiative, aiming to reduce bureaucratic hurdles and create a more conducive environment for startups to operate and grow.

💡Funding Winter

Funding winter is a term used to describe a period when it becomes more difficult for startups to secure investment due to various economic or market factors. The script mentions the current funding challenges faced by the startup ecosystem, with successive funding rounds becoming harder to secure and valuations decreasing, indicating a 'funding winter' scenario.

Highlights

India's startup ecosystem has grown remarkably, with the number of startups increasing from 471 in 2016 to over 84,000 in 2022.

India ranks as the third largest startup ecosystem in the world, with 107 unicorns.

The Startup India initiative, launched in 2016, aims to nurture innovation and encourage private investments in startups.

National Startup Awards were introduced in 2020 to recognize outstanding startups and ecosystem enablers.

More than 4500 startups have been recognized in sectors related to emerging technologies such as IoT, robotics, AI, and analytics.

The government has launched several initiatives under Startup India, including funding schemes and regulatory reforms.

Fruit Tech, a startup focusing on extending the shelf life of fruits and vegetables, has developed technology to inhibit ethylene production.

Fruit Tech's technology can be applied at various levels of the supply chain, from farmers to consumers.

Startups like Fruit Tech have received support through government grants and incubator programs.

The startup ecosystem has shown resilience and innovation, particularly during the COVID-19 pandemic, with contributions to ventilator designs and COVID-19 detection kits.

The government is focusing on creating an enabling environment with less regulatory intervention to support startups.

There is a need for more funding and support to help startups transition from product development to market commercialization.

The discussion highlights the importance of a multi-dimensional approach to evaluating startups, considering technological, commercial, and social aspects.

The comparison between India and the U.S. shows a difference in scale and funding distribution for research and development.

Suggestions for improving the ecosystem include expanding government funding beyond public universities to private institutions and commercial organizations.

The mortality rate of startups has decreased, indicating the maturity of India's startup ecosystem.

The conversation emphasizes the need for continued support and reform to sustain the growth of India's startup ecosystem.

Transcripts

foreign

[Music]

and you're watching our show perspective

where we bring you detailed analysis of

key National and international issues

today we're going to talk about India's

startup ecosystem now startup India

initiative was launched on 16th of

January 2016 with an intent to build a

strong ecosystem for nurturing

Innovation startups and encouraging

private investments in the startup

ecosystem of the country four years

later in 2020 National startup awards

were started to recognize and reward

outstanding startups and ecosystem

enablers as well India is in fact the

third largest startup ecosystem in the

world with 107 unicorns total number of

startups in India has increased from 471

in 2016 to 84 00012 in 2022 more than

4500 startups have been recognized in

sectors related to emerging Technologies

such as the Internet of Things robotics

artificial intelligence analytics Etc

now the government has launched a number

of initiatives to promote startups

across the country as part of the

startup India initiative such as the

startup India action plan the fun of

funds for startup scheme regulatory

reforms support for intellectual

property protection self-certification

under labor and environmental laws

income tax exemption for three years a

faster exit for startups and the startup

India seed fund scheme Etc so today

we'll discuss and analyze various

aspects of this enabling mechanism which

has been put in place and the overall

startup ecosystem where do we stand and

how have we reached here and for more on

this we joined by a distinguished panel

of experts let me first begin by

welcoming Dr Jagdish Gupta kapuganthi

here with us he is the founder of a

fruitcake private limited and the winner

of national startup Awards 2022 as well

welcome drish we're also joined by two

more panelists uh Professor Dr unnat P

Pandit is with us he's The Controller

General of Payton's design lines and

trademarks are with the dpiit ministry

of Commerce and Industry and

our senior journalist who keeps a close

watch on all the developments in this

sector is also with us welcome both of

you gentlemen as well uh to our show

I'll begin with you uh Dr Jagdish since

you're a winner of one of the awards

here and we would like to hear from you

not only the story of of your uh you

know startup but also how it has come

about let's start by learning what is

fruit attack all fruity Tech is called

fruit and vegetable technology that's

why we call it as a probe Tech Okay so

we deal with the development of

Technologies for enhancing shelf life of

fruits and vegetables so fruits and

vegetables are very important for

nutrition these are daily part of our

diet so when we take the community of

the total food that we take so the

fruits and vegetables occupy nearly 40

percentage of our daily take so this

that means these are very important but

these are very important for the

nutrition but the problem with the the

fruits and vegetables actually is uh the

keeping them fresh so so because these

are very much perishable the fruits and

vegetables are very much perishable but

you know ah so we need to develop

Technologies to enhance the shelf life

of fruits and vegetables we develop the

formulation that can inhibit a gaseous

hormone called ethylene ethylene is a

hormone that is produced inside the

fruits when the fruit start ripening

they produce huge amount of ethylene if

you regulate the ethylene we can

eventually delay the ripening process

okay okay our formula can emit certain

kind of gases which can interfere

intercept the Italian production pathway

therefore and can this be done at at

Farmer's level at the Traders level yes

what about the consumers yeah so our

technology is adaptable throughout the

supply chain starting from the uh fields

that means that the farmers can use it

at the same time transportation

distribution reports and a consumer

level so our technology fits throughout

the supply chain okay and then where

does the startup stand right now in

terms of uh you know opening up to the

market have you entered the market so we

are in the pre-commercialization stage

we developed five different kind of

products one for the farmers one for the

retailers one for the distribution

reports one for the consumers and also

one for the keeping them in the

corrugated boxes so we have five

products that those are in a

pre-commercialization stage and we have

filed nearly nine patents National

international patents now this is ready

for the market okay okay wonderful uh

you know a very interesting uh story out

there which has been realized by you and

your team but in fact that's that's one

of the examples Dr uh Pandit I'd like to

bring you in here you know ah we heard

Dr Jagdish about the story of Robotech

one of the eighty four thousand twelve

startups in India number from 471 to 84

000 in say just six years 107 unicorns

this itself speaks volumes about where

we stand and where we started from let's

let's go back a little bit and talk

about the journey you know it must not

have been easy

see this this journey has definitely a

path breaking and then certainly there

is a dedication and hard work which has

been done by the students youth academic

people and equally the industry

this this journey has started with one

such uh appeal that India should design

their own solution

and this appeal has resulted into the uh

more than 100 unicorns

third position in the entire startup uh

all all across the world

so definitely this journey has uh

yielded a strategic growth for India

and creation of intellectual property

was again a mission which with this uh

ecosystem has very well utilized and

this ecosystem has created a innovative

solutions which is well appreciated in

government in society and also on a

commercial front

so okay this is the journey which has

really played a major major role in the

Atman Bharat which which now government

is trying to encourage the startups to

design a solution which for the Indian

challenges and

entirely the solution can be retrofit or

prepared in India for Indian Community

okay okay indeed in kitchen mode uh

exercise with startup ecosystem is

taking up and here I would like to

mention just a 30 seconds please please

go ahead I'd like to mention the

contribution of the startup ecosystem

dividing the covet time frame

see 100 import of a ventilator to a

multiple designs

of a ventilator

15 times cheaper than the commercial

import

the new designs from the hundred percent

import of the uh

kovid accessories

so now we are exporting

the Kobe detection kit and its reagent

from the rtpcr to the more than 95

percent accuracy in the paper waste kit

this is something which is the

contribution of the startup

Hindi indeed indeed uh Dr Pandit I

remember those conversations during uh

the covet pandemic uh you know when

you're there on our shows about how the

startups are contributing a lot uh in

you know are better against the fight

against uh the covet pandemic that is

one of the key major highlight during

this journey and we bring in Mr Yates

as uh Professor Pandit was pointing out

you know there are two parts of the

story here one is uh when you're talking

about the startup ecosystem two parts of

the story one is the enabling mechanism

which has been put in place where why

our policies uh you know uh and the

other aspects as well

the other part of the story is the

industry itself you know those those

entrepreneurs uh those scientists or

those uh people who had an idea they

came up with the solution and made use

of that in M League economy you know

ecosystem out there how do you view you

know these two parts and the way of both

uh uh sides of the story have worked

together for the past six to seven years

the startup ecosystem is

and not a

recent ecosystem it's been there for the

last 20 25 years what has happened in

the last seven to eight years is the

fact that government has become much

more

cognizant about the need and the purpose

that startups can do both in terms of

creating jobs and in terms of creating

new Industries which was much needed

the currently the ecosystem is as you

know funded largely by Venture capitals

lists or private Equity Funds and most

of this funding does come from Global

Investors across the world

and as you know that investment

is uh getting squeezed during this

so-called funding winter for the

startups uh

successive rounds are becoming difficult

valuations are going down and that is

the challenge that the ecosystem is

facing at this point now this is not a

problem or a challenge that the

government can solve this is a market

driven issue and should be solved by the

ecosystem itself but what the government

can do and as you point out is create

the right enabling environment in which

it is it becomes easier for these

startups or entrepreneurs to raise funds

to carry out the business with the least

amount of intervention or regulatory

uh requirements uh you know from the

government

now that is the area that still needs a

lot of work because as you know that

regulatory costs

uh are high in the country and the

government is cognizant of the fact that

there are laws that we need to be done

away with and the Prime Minister has

continuously pressed on this issue that

the number of laws or the number of

defunct laws in the country need to go

down uh then we need lesser and lesser

of bureaucratic or government

intervention in entrepreneurs Journey we

need to let them grow and Achieve scale

on their own and and that is the process

and it is also a part of a process

reform uh which the government is uh

undertaking at this point in time okay

more importantly if you were to say

compare startup India with say startup

America we would see that the the focus

of uh developed countries is more in

terms of spending resources or Capital

uh on r d

which is like for instance the National

Science Foundation in the U.S uh which

has a budget to form in you know which

runs into billions of dollars and which

in turn you know uh percolates down to

startups uh in terms of products for the

healthcare sector or uh you know for the

material science sector these are

sectors uh especially in deep Tech

science and I would say technology

because technology is is is now

identified more with e-commerce but

you know digital technology is just one

aspect of it um indeed that is where the

government uh institution invests in r d

okay and create and help

in converting that r d into products

with the help of startups okay that is

an area that

hopefully would see more government

investment okay okay that's that's a

very important crucial point I'd like to

bring Professor pundit later uh on in

the show on that but before that I'd

like to uh you know uh have Dr jagdish's

view here on on your journey as a

startup entrepreneur as a startup

founder you know yes this enabling

mechanism which all of us are talking

about yeah I mentioned around uh half a

dozen uh schemes which the government

has put in yes both yatish and Doctor

also mentioned some of them

or your startup Venture benefited uh

from some of these enabling uh system or

mechanism which has been put in place

how has that happened so uh so far we

got excellent support from various uh

you know government schemes so initially

we got a biotechnology ignition Grant

from birac so that gave a lot of freedom

to operate this grant that actually

helped us to fasten you know our

research because they gave a lot of

freedom in operating the you know there

is a you know interchange of this heads

from one one head to another head

thereby actually it helped us based on

the needs of the project we can operate

this grant that really helped at the

same time bhairak also tagged us to a

incubator incubator has a you know a lot

of like technology transfer unit at the

same time several experts who help us

constantly to bring our you know

Innovation into the product so that is

one of the very important thing that

Barack has done is that so tagged us to

incubator who has whose experience in

taking the Innovation from the lab to

the field field at the same time uh the

so we also obtained a grant from Sri

padmavati venkateswara Foundation is a

NGO who also helped us and they found

that our Innovation is so much helpful

for the farmers they provided funding

for us to develop low-cost devices for

the development of low-cost devices for

the farmers so the farmers can use their

field with a low cost okay okay thereby

we've been getting a lot of support and

we also been recognized by dpiit where

we could actually file patents easily at

the same time we go to excellent support

okay and what about the funding part now

the process begins so the process that

we got to the the we got some 50 lakh

money uh from birac at the same time we

got another 50 lakhs from padmavati

venkateswara Foundation okay in last two

years uh that really helped us to take

our Innovation into the product okay so

it looks like you know so far so good

you have benefited from most of the

parts but but during your journey you

know uh our viewers would also want to

understand and those uh who might have

you know some brilliant ideas would be

planning to come up with uh their own

startup uh what are the areas for

improvement where you know you believe

that the new upcoming startup Founders

or entrepreneurs might need a bit more

of hand holding or say perhaps a push or

a help yeah so uh there is that once a

product is developed we need some

support uh to uh bring that product into

the market there most of the startup end

up in development of the product but

already birect and several other

programs have startup seed fund and all

but that should be actually increasing

more in order to help whatever the If

the product is completely developed for

example trl3 to trl9 If the product is

in TRL and Technology Readiness level

nine then those products can be promoted

ah the given funding for establishment

of the production unit and development

of such products in the low cost to

Farmers and farmers and consumers okay

so the last is push you're talking about

you know when the product is ready the

last stage push also wherein a software

a startup entrepreneur would want that

that push Dr Pandit how would you you

know respond to this because this is a

very crucial stage also you know from

ideation to the final product stage

there are a lot of policies uh and the

enabling mechanism as well but as Dr

Jagdish is saying that at the last stage

also a bit more push uh towards the

market uh and then you know and perhaps

we can leave it to the startup and the

product itself to prove uh it's its

worth in the it's worth in the market

yeah from the ideas until the

commercialization there is an

intervention at every stage and in my

opinion the government uh support hand

holding and enough ecosystem

strengthening mechanism is there at a

early stage and once the product is

actually there on hands

then I think the it's a time of a angel

fund investor venture capitalist and the

series

ABC level funding can really play an

intervention here to make sure that we

have a commercially successful product

in hand and and then and then then it

also depends on the on the products you

know performance in the in the market as

well how the end consumers take it but

let me take you back to that point which

you know uh Mrs yatish was making in

terms of more spending required on R D

and then since uh you know the computer

journal for patterns and trademarks as

well you would have a better idea as to

how we have improved on our IPR that's

one because both r d is is reflected in

what kind of patents are filed for you

know how many of them are successful and

then end up in the product stage as well

do we need to push but more there

sir here I think I would like to mention

that

startups have most utilized the

government flexibilities and incentives

which has been offered see uh startup

has a special privilege to have the

expedited examination

startup has the sippp support what what

Jagdish and ji has mentioned that he has

got the funding support from the dpiit

so this is something where the RND

support which in which is there from the

government but most importantly why the

churning from the IP creation to the

commercialization is not at the pace

where it should be in India because we

are always measuring the technology or a

product from one dimensional it is a

uni-dimensional method which which PRL

three to nine what generation G has

mentioned

ideally it should be fair evaluated and

their mechanism should be India's entry

so when I was in jnu I have designed a

model that's a

unidirectional model is a TRL but we

need the three-dimensional model wherein

the commercial value or commercial

Readiness level is equally important and

societal acceptance or the the products

positioning into the market is equally

an important model so if any IP or

Innovative product which is placed on a

Trial Act table

and one of the leg is weak either

technology or commercial or social or

marketing perspective

then it is going to fall out of the uh

table and that's the major cause of the

mortality but I am happy to share that

the mortality rate which was there in

early stage that has drastically come

down okay that shows the maturity of an

ecosystem in the startup domain okay

okay uh Yates do you agree with Dr

pundit there that you know uh we'll have

to push for the multi-dimensional uh you

know approach towards evaluating a

startup idea a product as well when it

is in the commercialization stage and

not only look at it from a technology

point of view because that would mean

that we are overlooking its perhaps you

know the other two aspects which are

equally important and that is the key to

giving that one final one more posture

from uh you know the patent stage to the

commercialization stage most of the

ideas drop there

we shall they uh you know a startup or

an entrepreneur who is doing uh you know

building a product is best place to do

the commercialization it is not the job

of the government or it is not the job

of the system or the administration uh

to do that for him because at the end of

the day you know whether a product

succeeds or fail depends upon the market

demand and that is something that has to

be actually uh you know practiced not uh

you know

theoretically uh justified in any form

of research but more importantly you

know if you look at the macro landscape

and if you compare the macro landscape

between say India and the U.S there is

still a degree of scale and there is

still a difference of scale that matters

uh and let me illustrate that Within

example

the National Science Foundation of U.S

has a annual budget of 8.3 billion

dollars

now the the comparative budget of say of

department and Science and Technology is

much smaller but the difference is that

NSF actually gives grants and re funds

research

across public and private

universities in U.S on the other hand

you know Department of science and

technology is Grant is absorbed in only

the top eight or ten institutions in

this country

so there is no and there is no outcome

uh monitored or outcome guaranteed or

outcome commercialized in that spend for

the last 30 years now if that were to

change and private forces and Market

forces were allowed to access those

grants which are currently being

absorbed only by the public sector or

you know the public universities we

suddenly will see you know we'll see a

change in both creation of new products

okay and a better outcome of research uh

so to say okay this is this is a

fundamental reform which

uh has been talked about in even in the

National Education policy but it has not

yet happened

so if um I mean if if the government uh

really wants to kind of move the needle

through the r d for the country it needs

to move its funding out from public

universities and enlarge it across

researchers in private universities and

in commercial organizations too

you know why should it be limited just

to an IIT or an uh ISC okay in the

country okay so so increase the basket

you're saying uh clearly out there thank

you so much uh uh yatish we're running

short of time and uh professor as well

for sharing your views uh so drishan

also and then congratulations once again

for uh winning that award we hope to see

that your product makes those ripples in

the market as you're pointing out uh

thank you once again that's all we have

in this edition of perspective where we

spoke about the startup ecosystem in

India the kind of policies the enabling

mechanism which is in place and of

course there are challenges still ahead

which we need to meet we'll come back

again with a different topic till then

keep watching Sunset television thank

you

thank you

[Music]