The Department of Telecommunications (DoT) is spearheading a funding mechanism akin to Shark Tank India to bolster startups, particularly those focusing on next-gen technologies, in a bid to foster domestic technology champions. According to officials familiar with the initiative, the DoT is facilitating connections between startups and venture capitalists (VCs).
“We aim to offer exposure and funding avenues to MSMEs and startups for scaling up. If the idea holds promise, VCs will extend the necessary support,” shared an official briefed on the matter. At a recent gathering, approximately 25 startups specializing in quantum communications, 5G-enabled AI drones, satellite-based navigation systems, cybersecurity, and IoT presented their concepts to 13 VCs from India, the UK, and Uganda.
“Discussions regarding funding are progressing well for certain startups, and decisions will be made shortly,” stated another official. Among the participating firms engaging with VCs were QPIAI India, focusing on quantum communication, Menthosa Solutions specializing in 5G-enabled AI drones, and Webyfy IoT engaged in IoT research and development, among others. Notable VCs in attendance included Lets Comply, World Five VC Advisors, SIDBI Venture Capital, Invest India, Amity Innovation Incubator, and IAN Group. The government’s aim is to achieve self-reliance in communication technology, given its pivotal role in the nation’s electronic infrastructure.
In addition to facilitating VC support, the government has established a Telecom Technology Development Fund (TTDF) under the Universal Services Obligation Fund (USOF). The TTDF aims to foster an ecosystem for telecommunications research, design, prototyping, proof of concept, testing, intellectual property rights (IPR) creation, field testing, security, certification, and manufacturing. Officials emphasize that India ranks third globally in terms of tech startup ecosystems and stress the importance of sustained support to Indian manufacturers for business opportunities. As part of its 2047 vision, the Department of Telecommunications (DoT) has set ambitious targets, including capturing a 20% share of global mobile telecom technology manufacturing.
