India Sees Rapid Growth in Quantum Technology with 40 New Startups Emerging in Two Years

India is making significant advancements in quantum technology, with over forty startups emerging in the field in the past two years. This rapid growth showcases the growing potential of India in the global tech industry. Dr. Jitendra Singh, the Union Minister of State for Science and Technology, expressed confidence in the country’s progress in this area.

Recently, a meeting was held to discuss the 100-day action plan for the Department of Science & Technology, where Dr. Singh highlighted the importance of the National Quantum Mission. He stated that India is now on par with leading nations in quantum technology and the mission aims to establish India as a global leader in this field, particularly in quantum communication.

One standout startup in this sector is QuNu Labs, based in Bangalore and incubated by IIT Madras. The company recently signed a memorandum of understanding with the Technology Development Board to develop security products using quantum technologies, emphasizing the country’s focus on innovation and research in this cutting-edge technology.

Dr. Singh also noted a significant increase in women’s participation in extramural research and development, which is attributed to government initiatives aimed at promoting women in STEM fields. Approximately 300 women scientists are reported to be receiving research grants under the ASPIRE scheme, showcasing the government’s commitment to gender diversity in the tech industry.

The growth of India’s startup ecosystem is also a point of pride, with the country seeing a substantial increase in the number of startups from just a few hundred in 2014 to over 1.25 lakh today, with more than 110 unicorns. This growth has led to India’s improved position in the Global Innovation Index, moving from 81st place in 2015 to 40th place in 2023, highlighting the country’s increasing prominence in the global innovation landscape.