Home Governance Indian government strengthens efforts to promote cybersecurity startups

Indian government strengthens efforts to promote cybersecurity startups

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To accelerate the commercialization of cybersecurity products in India, the country’s government organizations Technology Development Board (TDB) and Data Security Council of India (DSCI) have entered a partnership. The two organizations would be working to come up with a plan to provide funding support and create a favorable environment to promote the cybersecurity startups and product entrepreneurship in an ecosystem that includes about 100 companies involved in areas like threat Intelligence, identity and access management (IAM), and cloud access security solutions.

According to reports, the two organizations discussed the current cybersecurity ecosystem with stakeholders and identified a roadmap for cybersecurity product development and commercialization. Avenues through which TDB can be leveraged as a funding platform were also discussed. TDB has been already in the process of funding upscaling, manufacturing, and commercialization of domestic and imported technologies for over two decades, and has signed almost 400 agreements with companies in multiple sectors.

The Secretary of TDB, Dr. Bindu Dey, said, “Cybersecurity is IP-rich & Technology-driven domain that needs minimum investment but serious attention from key stakeholders. While we have been funding companies in various verticals, we are now committing to strengthen this ecosystem along with other players to accelerate the growth of cybersecurity start-ups in the country,”

Rama Vedashree, CEO of the DSCI, said, “Promoting Indian cybersecurity innovation & entrepreneurship is one of the imperatives to build robust capabilities for strengthening cybersecurity posture of the country. Though Indian cybersecurity industry is at a nascent stage, we have seen some success stories of our entrepreneurs winning in global markets. As cybersecurity startups continue to face challenges in marketing and market access, it is important that government and investors come forward to support them at different stages of their lifecycles. In the line with our Honourable Prime Minister’s vision to make India a hub of cybersecurity products and services, last year NASSCOM-DSCI Cybersecurity Task Force (CSTF) had launched the roadmap for building the cybersecurity products and services industry to USD35 billion by 2025. We are currently working with the industry and government to meet this ambitious target.”

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