Excluto: WealthTech platform where LPs discover funds & connect with VCs. Excluto in conversation with Chirag Gupta on the nuances of DeepTech & its future. The growth story of 8X Ventures & insights into the industry!

India’s deep tech sector is rapidly emerging as a key driver of innovation, with the country becoming the third-largest startup ecosystem globally, housing over 2,100 deep tech startups by 2022. This growth is fueled by advancements in artificial intelligence, quantum computing, and robotics, with AI alone expected to add $500 billion to India’s GDP by 2025. The government’s focus on initiatives like the National AI Strategy and the establishment of centers of excellence in technologies like quantum computing further propels this momentum. According to NASSCOM, deep tech startups in India attracted over $2 billion in funding in 2022, reflecting investor confidence in the sector’s potential to revolutionize industries from healthcare to agriculture .

But for us, we are much more focused and excited about the hardware side of the business and relatively less excited about the AI side. That’s what we do at ATEX Ventures.
-Chirag Gupta

Before we dive into deep tech, I’d like to ask, is all hardware considered deep tech, and is all deep tech hardware? How do you think about these two different terms?
-Team Excluto

No, they are two very different things. Deep tech may or may not involve hardware, and hardware may or may not be deep tech. For anything to qualify as deep tech, there must be proprietary innovation and defensibility of that innovation, not just from an IP perspective, but also in terms of how difficult it would be for someone else to replicate it. There has to be a long gestation period before others can catch up. I can share some examples if that would be exciting. So, there’s a technical moat that you see coming into existence.
-Chirag Gupta

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