India Produced over 40 Quantum Tech Startups in 2 years By CIOTechOutlook Team

India Produced over 40 Quantum Tech Startups in 2 years

CIOTechOutlook Team | Monday, 17 June 2024, 03:10 IST

Union Minister Dr. Jitendra Singh stated that India has developed over 40 quantum technology firms in the last two years, with a few of them having global potential.He chaired a review meeting of the Department of Science and Technology in New Delhi and instructed officials to focus on the flagship National Quantum Mission as well as the development of quantum technologies and communication.

"India is currently on an equal pedestal with other nations in terms of quantum technologies," the minister said during the meeting, adding that our mission should be to establish India as a global leader in quantum technologies.

Quantum technology applies quantum mechanics concepts to sophisticated calculations. It is used in a variety of industries, including cryptography, chemistry, healthcare, medicine, and logistics.

The minister highlighted the role of new businesses and the private sector in the development of science and technology, sharing the success story of 'QuNu Labs', a Bangalore-based startup incubated by 'IIT Madras' that has agreed to an MoU with the Technology Development Board TDB for the development of security products based on quantum technologies.

Women's engagement in extramural research and development (R&D) has doubled in the previous ten years," he said, citing the government's special efforts over the last decade to encourage women scientists and researchers through the STEM fellowship program.