In News: Recently, NITI Aayog launched AIM-PRIME (Program for Researchers on Innovations, Market-Readiness & Entrepreneurship), an initiative to promote and support science-based deep-tech startups & ventures across India.
- AIM has joined hands with Bill & Melinda Gates Foundation (BMGF) to launch this nationwide program which will be implemented by Venture Center – a non-profit technology business incubator.
- The first cohort of the program is open to technology developers (early-stage deep tech start-ups, and scientists/ engineers/ clinicians) with strong science-based deep tech business ideas.
- The program is also open to CEOs and Senior incubation managers of AIM Funded Atal Incubation Centers that are supporting deep tech entrepreneurs.
- Program is aimed at addressing specific issues through training and guidance over a period of 12 months.
- Candidates selected for the program will get access to in-depth learning via a comprehensive lecture series, live team projects, exercises, and project-specific mentoring.
- They will also have access to a deep tech startup playbook, curated video library, and plenty of peer-to-peer learning opportunities.
- The AIM-PRIME program is specifically tailored for the rapid scaling up of deep-tech science ventures in India, providing not just the necessary intellect and support but also the exposure they rightly deserve.
- The hallmark of the AIM-PRIME program shall be hands-on practical insights and mentoring from experts and mentors who have been nurturing science-based deep-tech startups in global innovation hotspots as well as in India.
- Deep technology is an outcome of very intense research and development (R&D) with high knowledge content.
- Consequently, the entrepreneurial journey emphasizes different aspects and requires a different approach to navigating the de-risking process and bringing such ideas to market.
- Deep Tech is having profound impact on segments including autonomous systems, robotics, smart home/cities, medical devices, clean tech, energy efficiency and many more developing or emerging application areas.
- Deep Tech as technology that is based on tangible engineering innovation or scientific advances and discoveries.
- Deep Tech is often set apart by its profound enabling power, the differentiation it can create, and its potential to catalyse change.
- Deep Tech companies often possess fundamental and defensible engineering innovations that distinguish them from those companies that are focused on the incremental refinement or delivery of standardised technologies or only use business model innovation to create opportunities.
- Deep Tech can span across many technological areas and can impact diverse applications. On the technological front, these can include processing and computing architecture innovations, advances in semiconductors and electronic systems, power electronics, vision and speech algorithms and techniques, artificial intelligence and machine learning, haptics and more.