Over 40 Indian quantum technology start-ups emerge in 2 years
India has witnessed a significant surge in quantum technology start-ups, with over 40 new ventures emerging in the past two years, with a few of them having global potential. This was announced by Union Minister Dr. Jitendra Singh during a review meeting of the Department of Science and Technology in New Delhi. Emphasizing India's ambition to become a global leader in quantum technology, the minister instructed officials to prioritize the National Quantum Mission (NQM) and advance technology and communication development.
Quantum technology's role in various sectors
Dr. Singh highlighted the importance of quantum technology, which uses quantum mechanics for complex calculations. He stated that India is now on par with other countries in terms of quantum technologies. This technology is crucial in sectors such as cryptography, chemistry, medicine, healthcare, and logistics. The minister also emphasized the significant role start-ups and the private sector play in science and technology development.
Start-up collaboration with Technology Development Board
Dr. Singh highlighted the collaboration between 'QuNu Labs,' a Bengaluru-based start-up incubated by IIT Madras, and the Technology Development Board (TDB). The partnership aims to develop security products based on quantum technologies. The minister also noted a significant increase in women's participation in extramural research and development (R&D) over the last decade. Under 'A Scheme For Promotion Of Innovation, Rural Industries, and Entrepreneurship' (ASPIRE) program, approximately 300 women scientists are set to get research grants for three years.
India's start-up ecosystem and innovation ranking
Dr. Singh expressed satisfaction over India's evolution into the 'Startup capital of the world,' with more than 1.25 lakh start-ups in 2024. This is a significant increase from just a few hundred before 2014. The country's ranking in the Global Innovation Index has also improved from 81st position in 2015 to 40th in 2023. India now ranks third globally for the number of publications and PhDs awarded in science and engineering.
