Tech Dive 5: Funding the Future of India’s Defense & Deep Tech Ecosystem

Setting the Context: Why This Conversation Matters

India’s deep tech and defense tech ecosystem is at a critical inflection point. While innovation has accelerated, access to patient capital, clear funding pathways, and market-aligned execution remains a challenge for many founders.

Tech Dive 5, hosted by EyeROV, brought together military leadership, venture capitalists, founders, and policymakers to unpack one central question:

How do we fund, scale, and sustain India’s next generation of deep, defence and frontier technologies?

This edition went beyond surface-level optimism and delivered ground-truth insights from those who have built, funded, regulated, and deployed deep tech in the real world.

Defense Tech: From Risky Bet to Sunrise Sector

Commander Navneet kaushik (Founder, Jamant Ventures)

Commander Navneet Kaushik, a retired Indian Navy officer and seasoned defense innovation expert, delivered a powerful reframing of defense technology:

“Defense is not anti-development. It is development through preparedness.”

Key Insights:

Defense is the original innovation engine: GPS, satellites, the internet, digital imaging—all emerged from defense needs.
India’s shift is structural, not cyclical: Programs like iDEX, TDF, and direct engagement from armed forces have reduced uncertainty for startups.
Dual-use tech is the future: Any technology that works in defense can scale massively in civilian markets once hardened.
Funding is no longer the biggest problem: Understanding real defense requirements and aligning solutions to them is now the core challenge.

The VC Perspective: Deep Tech 2030

Anil Joshi (Founder & Managing Partner, Unicorn India Ventures)

Anil Joshi provided a long-view perspective shaped by over a decade in India’s venture ecosystem.

“India may not always create breakthrough inventions, but it creates breakthrough solutions to real problems.”

How VC Thinking Has Evolved:

From consumer internet → SaaS → deep tech
Deep tech is now investable, not experimental
IP-led companies create durable value and defensibility
Government-backed sectors (defense, space, semiconductors) are now credible scale markets

What VCs Are Really Looking For:

Core technology that can spawn multiple products
Clear commercialization pathways within fund lifecycles
Teams that balance engineering excellence with business clarity
Evidence that technology can scale beyond pilots

“Build the tech—but don’t forget to build the business layer.”

Scaling Defense Startups Without Burning Capital

Tom Thomas (COO, Kerala Startup Mission)

Tom Thomas brought a rare inside-out perspective—wearing both the government’s hat and the startup’s shoes.

How KSUM Supports Deep Tech at Scale:

1. Capital Multiplication

Fund-of-Funds model: Government capital invested into VC funds
Every ₹1 from the state unlocks ₹2–₹3 for startups
Strong VC partnerships (including Unicorn India Ventures)

2. Cost Optimization Through Infrastructure

Access to ₹35+ crore worth of shared advanced manufacturing equipment
FabLabs, Maker Village, and deep-tech-ready prototyping facilities
Enables startups to:
- Prototype faster
- Avoid heavy early CAPEX
- Stay longer in Kerala instead of relocating

3. Grants for Long-Gestation Innovation

Up to ₹30 lakhs in R&D grants
Supports founders through extended research cycles
Ensures personal sustainability during deep R&D phases

“Deep tech startups don’t fail because of ideas—they fail because they run out of time and money.”

EyeROV’s Journey: A Living Case Study

Throughout the discussion, EyeROV emerged as a recurring example of:

Dual-use deep tech done right
Long-term persistence paying off
Ecosystem support making a real difference

From early ₹5–12 lakh grants to global recognition, EyeROV journey reinforced a core theme:

Early support doesn’t need to be big—it needs to be timely.

Key Takeaways for Founders

Defense tech is no longer niche—it’s strategic
Dual-use applications unlock scale and investor confidence
Funding exists, but problem clarity matters more
IP without commercialization is not enough
Ecosystem support (labs, grants, networks) can extend runway dramatically
Government is now a partner, not just a customer

What’s Next for Tech Dive?

Tech Dive is evolving from a discussion forum into a global platform for deep tech leadership, with ambitions for:

International editions
Physical global events
Stronger founder–investor–policy collaboration

As articulated in the closing remarks:

“Make Tech Dive your safe space for technology. Make it your brand. Take it to the world.”

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