Washington, April 2 (NationPress) The initiative to establish a globally competitive deep tech ecosystem in India is contingent on securing patient capital, enhancing domestic demand, and fostering closer collaboration among industry, government, and research institutions, as articulated by leading Indian American CEOs in the sector.

The panel discussion titled “Building India’s DeepTech Engine: Startups, Venture Capital & Innovation Pathways” at the annual Hopkins India Conference 2026 on Wednesday (local time) gathered industry leaders and investors to identify the barriers hindering India’s innovation potential.

Vivek Lall, CEO of General Atomics Global Corporation, emphasized that India's greatest asset is its human capital. He stated, “It boils down to talent… this is where India surpasses nearly every nation,” referring to the country's demographic and skill base as a strategic advantage.

Lall highlighted that startups are increasingly vital for innovation in sectors such as defense and aerospace. “They are the engine of growth… they bring fresh energy and ideas,” he noted, acknowledging that global conflicts are transforming how countries approach defense innovations.

Girish Rishi, the CEO and chairman of Cognite, pointed out that although India has clear structural advantages, weak enterprise adoption remains a significant challenge. He remarked, “The Indian market has not fully embraced technology,” adding that many businesses view technology as an expense rather than a source of revenue and competitive advantage. He stressed the importance of domestic demand for the growth of startups, asserting that large Indian firms must act as anchor clients, similar to practices in the United States and China.

Raj Iyer, president of Global Public Sector Markets at T-Second, noted that deep tech encounters even more formidable challenges than software. “If scaling SaaS software in India is tough, consider the hurdles for deep tech and hardware,” he said, referencing issues related to research talent, infrastructure, and lengthy investment cycles.

Iyer highlighted the government’s role not just as a funder but also as an early adopter. “Governments are uniquely positioned to not only fund innovation but also adopt it early,” he mentioned, citing policy initiatives like “Make in India” that have promoted domestic production and procurement.

He also emphasized India’s data advantage. “There are massive amounts of data that I believe no other country possesses,” he added, stating that leveraging this with artificial intelligence could yield significant benefits.

Regarding funding, Seema Chaturvedi, Founder and Managing Partner of Achieving Women Equity Funds, noted that traditional venture capital models are ill-suited for deep tech. “This sector requires infrastructure patience, not venture velocity,” she stated, advocating for a broader capital stack that includes government and philanthropic funding. She acknowledged that India is starting to respond, citing a government-backed “fund of funds” and research-focused financing mechanisms to bolster innovation.

Chaturvedi also raised concerns about execution risks. “It’s not just about the risk of technology… there is also the risk of execution and scale,” she said, urging investors to accurately price these risks.

Panel members also highlighted India’s cost advantage and frugal innovation model, with companies capable of developing products at a fraction of global costs. However, they asserted that scaling these innovations necessitates stronger partnerships between startups and large industrial entities.

Rishi emphasized that established companies must support emerging businesses. “For India to progress… they must lend support to these frugal startups,” he urged, calling on larger firms to adopt and invest in new technologies.

Over the past decade, India’s startup ecosystem has experienced rapid growth, fueled by digital infrastructure, policy reforms, and increasing investment flows. Experts suggest that the next phase will hinge on transforming innovation into globally competitive businesses, especially in strategic sectors like artificial intelligence, semiconductors, and defense technologies, where India aims to secure a more prominent role in global value chains.