Neelkanth Mishra says ₹1L/cr fund not reaching deep-tech startups
India's massive ₹1 lakh crore fund for research and innovation is having trouble reaching deep-tech startups, says Neelkanth Mishra.
Speaking at the AI Council of India launch in Mumbai, he explained that venture capitalists aren't finding enough promising deep-tech companies, so their money ends up in safer bets like e-commerce instead.
Mishra warns VC limits, urges IITs
Mishra highlighted that advanced tech ventures (think chip design firms needing big funding) aren't getting much support because India's venture capital network is still pretty limited.
He also pointed out talent shortages and brain drain as big hurdles for AI growth, urging top institutes like IITs to step up as feeder points for funding.
Despite these challenges, Mishra was optimistic about India's ecosystem evolving.