'India Offers A Plethora of Deep Tech And Emerging Tech Opportunities'
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Deep tech refers to services, products and applications built around artificial intelligence, blockchain, robotics, big data, virtual reality, Internet-of-Things (IoT) and machine learning. These mediums are used for uncovering newer business models and making the world an advanced and better place. The various technologies used in under deep tech are novel and significantly advanced over traditional technologies.
According to Jatin Desai, general partner at Parampara Capital," Any technology that will have a deep impact on the larger society is what we consider as deep tech."
In the contemporary world, deep tech builds and captures businesses promptly. These novel technologies create a wonderful impact by changing the way of things happening in the world.
Areas covered under the deep tech ecosystem
Deep tech ecosystem consists of both software and hardware as its backbone. Desai says, "In software terms, deep tech encompass things like artificial intelligence, machine learning, blockchain, big data; on the hardware side, it will constitute IoT on the consumer side, IoT on the enterprise side, robotics and cybersecurity."
Both these components are collaborative and the convergence of these multiplies the deep tech enterprise potential.
Trends in the B2C world in the past few years
The demand-side consists of consumers and the supply-side consists of the enterprise. From the past 10-15 years, there are a lot of disturbances on the demand side. "Deep tech is much valid in B2C world and demand side as well," says Desai.
Traditional businesses are gaining a lot of benefits from the emerging deep tech startups. In the process of digitisation, deep tech startups have a very important role to play.
"If you have a deep tech solution that runs on the cloud' that's an ideal investment," he adds.
Qualities embodied in deep tech founder team
The basic almost 90 per cent of ingredients and qualities are similar whether you go for deep tech startups or B2C.
Few of the must-have qualities include practically passionate, committed, high conviction and flexible to changes.
If there are two co-founders of a deep tech startup, one of them should be a tech person. This can be regarded as the main difference between a deep tech and B2C enterprise.
According to Desai, "Complementary skills are needed, one could be a tech person, other could be skilled in marketing and sales."
Comparison of the growth rate of B2B and B2C
The B2C side always undergoes a faster growth rate. In B2C enterprise, you can easily bombard people with innovative digital marketing and of course, freebies give extra benefits. But on the flip side of it, the capital requirement and failure rate are also higher on the B2C side.
The B2B enterprise requires a higher focused approach. The ratio of failure is much better at B2B side than the B2C side.
While doing B2C enterprise, if there is a shortage of money, you may have to shut down the whole enterprise. In B2B, there are opportunities to manage and get things back on track.
Opportunities for Indian deep tech startups to shine globally
Deep tech startups of India possess great global market potential. Higher risk-taking capabilities, effective financial support and lower taboo about failures are the factors giving Indian startups builders to achieve success in global markets.
Among global markets, far East Asia, west Asia, the US and European markets are the foremost choices.
Deep tech and emerging tech startups hold great investment opportunities in the modern digital world. These startups have emerged as a boon in difficult times of COVID-19. Future of deep tech brings with it a brighter and better future for the world. Deep tech offers more distinct and fragmentation approaches for growing business.