India's First Privately Held DeepTech Hub launches in NCR with target to mobilise $100Mn

2024-10-31 07:00:59 Technology

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New Delhi, July 19, 2024: DeepTech VC (8X Ventures), a DeepTech Community Enabler (SanchiConnect), and an IP advisory firm (Arctic Invent) have come together to launch India's First privately sponsored DeepTech hub. The hub will engage with up to 10 DeepTech startups in the first year with no dilution on the equity front. The objective of the Hub is to bring together members of the thriving DeepTech ecosystem who have graduated from incubation centres but continue to need support from the ecosystem to make their dreams a reality. Collectively the hub targets to mobilise $100Mn in the DeepTech ecosystem.

The DeepTech Hub operates in a 7,000+ sq ft area in Noida and has ambitious growth plans. It aims to move to a 1,00,000+ sq ft space over the next year to accommodate the growing interest from startups, VCs, and related ecosystem members. The Hub will feature space for state-of-the-art labs, collaborative workspaces, critical shared resources to scale DeepTech startups, and exclusive access to industry-leading mentors and experts. The Hub's expansion is a testament to the thriving DeepTech ecosystem in the area it aims to foster. We are excited to see it grow. The Hub is collecting interests at www.deeptech.social.

8X Ventures, an early-stage DeepTech VC firm led by Chirag Gupta, recently announced the first close of its second INR 200 crore DeepTech Fund. Their previous fund has invested in Solinas Integrity, XYMA Analytics, Patherun Technologies, Lightspeed Photonics, and Zenpulsar.

SanchiConnect is among the largest DeepTech ecosystem enablers in the country today. As a SaaS platform, it supports over 3,000 DeepTech startups and more than 500 academic incubators, mentors, corporates, institutional funds, and technology partners. It often runs focused programs with corporations, academic institutions, and VC firms, with a key focus on providing funding and market access to startups.

Arctic Invent, founded in 2013, is a leading full-service intellectual property rights (IPR) consulting firm. With over 80+ experts and over 5,000+ granted IPRs, it helps businesses globally protect and leverage their innovations and creative works. Partnered with Basck IP Consulting in the UK, Arctic Invent offers comprehensive IP services, transforming intellectual property into valuable business assets in India, Europe, and North America.

Chirag Gupta, Managing Partner, 8X Ventures, underscored the moment, stating, "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."

"We are excited to lay the foundation of India's first privately managed DeepTech Innovation Hub. This initiative intends to support the DeepTech ecosystem in the country by offering vital support and resources to startups that have moved past the incubation phase. We aim to help them focus on their core business and bring their ideas to market steadily" Said Dr. Sunil Shekhawat, CEO, SanchiConnect.

"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.