India's First Private DeepTech Hub Launched With Target To Mobilise $100 Million

8X Ventures joined hands with Arctic Invent, and SanchiConnect to launch India's first privately managed DeepTech Innovation Hub.

The hub aims to collectively mobilise $100 Million by bringing together members of the DeepTech ecosystem who have graduated from their incubation centres but continue to need support from the ecosystem to make their dreams a reality.

Operating in a 7000+ sq ft area in Noida, the hub will feature space for labs, collaborative workspaces, critical shared resources to scale DeepTech startups, and exclusive access to industry-leading mentors and experts.

Deep tech, or deep technology, refers to those startups whose business model is based on high-tech innovation in engineering, or significant scientific advances.

Speaking about the launch, Chirag Gupta, Managing Partner, 8X Ventures said, "we hold the conviction that Indian DeepTech innovators of today will become globally transformative companies tomorrow. That only happens with sufficient support. It is about time that NCR's growing startup ecosystem had a hub like the one we are building.

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Sunil Shekhawat, CEO of SanchiConnect, stated, "This initiative aims to support the DeepTech ecosystem in the country by providing essential assistance and resources to startups that have progressed beyond the incubation phase. Our goal is to help them concentrate on their core business and gradually bring their ideas to the market."

"Our goal has always been to help innovators protect and grow their ideas. Now, being part of the DeepTech Hub, our global IP expertise and decades of experience working with DeepTech companies will reach startups in a much more curated and customised form. We are excited to be part of this initiative and look forward to helping DeepTech businesses succeed." said Mr. Govind Kedia, Managing Director, Arctic Invent.

8X Ventures, an early stage DeepTech VC firm recently announced the first close of its second INR 200 crore DeepTech Fund. They had previously invested in Solinas Integrity, XYMA Analytics, Patherun Technologies, Lightspeed, Photonics, and Zenpulsar.

SanchiConnect is a DeepTech SaaS platform supporting DeepTech startups, academic incubators, mentors, corporates, institutional funds, and technology partners.

Arctic Invent, founded in 2013, is an intellectual property rights (IPR) consulting firm it helps businesses globally protect and leverage their innovations and creative works.

According to a report published by Nasscom titled 'India's deep tech Dawn: Forging Ahead', India currently has 3600+ deep tech startups, out of which 480 were established in 2023 itself, nearly 2X more than the number of deep tech startups in 2022.

The report further stated that 74% of the Deeptech startups are focused on AI, which is a significant increase from 62% in the period from 2014 to 2022.

The global downturn in startup funding has also impacted the Indian Deeptech startup ecosystem.

Last year, Indian Deeptech startups secured $850 million in investments, a decline of 77% over the corresponding period last year as per a report by Economic Times.