Engineering, research and development services company L&T Technology Services (LTTS) is working with 12 deeptech startups to help move their technologies from prototypes to commercial products, with access to global customers forming the core of the initiative.
Under its LTTS FARM programme, the company is providing startups with engineering expertise, industry access and exposure to large enterprise customers, apart from access to its labs and facilities for product development. The focus is on startups that align with LTTS’ broader Engineering Intelligence portfolio – Software Defined Mobility (SDM), Plant Buildout & Modernization, Energy & Industrial Automation, Digital Manufacturing, Next Gen Compute & Data Centers, Software Platforms & EI and MedTech.
Focus on Market Validation
“The dynamics of the startup ecosystem have changed as they keep evolving,” LTTS CTO Ashish Khushu told Fe. While funding had been a major challenge for deeptech companies a few years ago, capital is no longer the primary hurdle, he said.
The startups selected include robotics companies Twara Robotics, CynLr, xTerra Robotics, Anscer Robotics and Zensomy Autonomous Technologies; healthtech firms Nesa MedTech and Onward Health; and AI drug discovery company Boltzmann Labs. Others are QpiAI, RC Labs, Terraclime Technologies and Tranzmeo IT Solutions.
Khushu said many of these companies have already developed prototypes or launched products but lack access to global enterprise customers, limiting their ability to refine and scale their offerings.
“For a product to mature and meet the global benchmarks in quality and competitiveness, these startups have to have access to marquee ER&D customer spend,” he said. “Products can’t mature themselves sitting in labs. They have to be a part of the cycle in the market to mature faster.”
LTTS will help the startups participate in requests for proposals (RFP), customer discussions and product demonstrations. It has also held sessions with its delivery leaders to help the founders understand how to approach large enterprise customers outside India.
Bridging the TRL Gap
The programme targets startups at technology readiness levels (TRL) 4 or 5 through TRL 8. Khushu said a large number of Indian deeptech startups are currently at TRL 5-7, where they need customer validation and experience to move towards full-scale production.
“Currently, there are a large number of startups in India at the TRL 5, TRL 6 or TRL 7 levels, where all they need is an endorsement and some experience to enter full-fledged production,” he said.
For LTTS, the programme is also a way to bring emerging technologies into its own offerings and deepen customer relationships. Startups at TRL 6 and 7 will be introduced to select customers and can be included in solutions being developed for them.
While LTTS can invest in startups, funding is not the focus of FARM. “We are not limited to just offering funding because the moment we specify investment, then you may not want to go through TRL 4 all the time,” Khushu said.
The collaboration could also accelerate LTTS’ intellectual property pipeline. The company currently has around 250 AI patents, Khushu said, with its work with startups expected to add to its patent activity.
Despite the gap with the US and China, he said India had the capability to build products relevant to global markets. “We have the capacity to build good and relevant products for the world. There is no doubt about it.”