Private wallets open as India’s future bet takes off
The Indian government's Rs 1 lakh crore Research, Development, and Innovation (RDI) programme is attracting venture capital into technologies that India has historically struggled to finance. This shift signifies India's ambitious future bet on transitioning from a large consumer of technology to a country that produces it. Mid-tier venture capital firms, such as Antler, Bertelsmann India Investments, Jungle Ventures, Bessemer Venture Partners, and Kae Capital, are now altering their assessment of deeptech companies, recruiting scientists, technical advisers, and global sector specialists to evaluate these ventures.
Previously, these firms assessed only one deeptech company per month, but this number has increased to seven to eight per month. This development coincides with the government's RDI programme, which aims to leverage public funds to draw private money into technology development.
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