The government has started realizing the importance of new technologies like Artificial Intelligence and Machine Learning and has even called Data as the new oil in the previous Budget 2020 . According to a recent NASSCOM report, Deep-tech and new start-up hubs will continue to grow at 40-45% CAGR. It also stated that investments are expected to return to 2019 levels,after seeing a dip in 2020 (if not exceed in 2021).
The pandemic has been a huge boost to Edtech, AgriTech, FinTech, HRtech and HealthTech startups. So, we expect to see decisions to fuel the growth of cloud data storage, big data and AI technologies in several domains. The work from home trend due to the pandemic has seen a lot of investment being made in Tier II and Tier III cities and the trend is supposed to continue. Reforms are expected to support and enable these start-ups as they can have a huge long term impact.
(The author is Founder and CEO at DAAS Labs)
(Published 30 January 2021, 06:36 IST)
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