New Delhi, India – In a bold endorsement of Union Minister Piyush Goyal’s recent critique of India’s startup culture, boAt co-founder and Shark Tank India investor Aman Gupta has publicly thrown his weight behind the idea that Indian startups must now pivot from surface-level innovation to deep-tech development.
Gupta’s remarks come at a time when India’s startup ecosystem is experiencing both a funding crunch and a policy-level awakening. The serial entrepreneur and D2C pioneer stated that shallow, copycat models are no longer enough to take India to the global stage. Instead, he called on the country’s entrepreneurs to build “world-class products, backed by real IP, solving real problems.”
The Minister’s Message: A Call for Depth Over Dazzle
Earlier this week, Commerce Minister Piyush Goyal stirred the waters at a high-powered event by urging startups to look beyond valuation games, celebrity endorsements, and fast exits. “We must build with substance. The world doesn’t respect hype—it respects hard tech and real innovation,” Goyal said.
While the comment triggered mixed reactions across the ecosystem, Aman Gupta’s endorsement marks one of the first major validations from India’s startup celebrity circle.
Aman Gupta’s Take: Time to Stop Copying and Start Building
In a post on LinkedIn, Gupta wrote:
“The Indian startup story needs a refresh. We’ve proven we can sell and market. Now it’s time to invent. Deep tech is where India’s future lies—from climate solutions to AI, from health tech to chip design. The next wave of unicorns must solve for Bharat and the world.”
He pointed out that too many Indian startups still emulate Western models, tweaking global ideas to fit the local market. While this worked in the 2015–2020 growth phase, the future demands original thought, research-led entrepreneurship, and global ambition.
“Shark Tank is great for getting the conversation started,” Gupta added, “but now we need labs, patents, scientists, and dreamers.”
Founders React: Mixed Bag of Praise and Pushback
While many founders applauded Gupta’s message, some questioned whether investors are truly ready to back deep-tech ventures, which typically require longer gestation periods, higher risk appetite, and deep R&D investment.
“Aman’s sentiment is great, but will VCs walk the talk?” asked the founder of a climate tech startup. “Deep tech isn’t sexy yet—no influencer campaigns, no flashy launch parties. Just years of grit.”
On the other hand, several startup operators welcomed the signal from someone as influential as Gupta. “When a Shark says it, people listen,” said a Bengaluru-based robotics founder. “This could spark a cultural shift.”
The Reality Check: India’s Deep Tech Dilemma
Despite producing some of the brightest engineers and scientists, India still lags behind when it comes to commercializing deep technologies. According to a NASSCOM report, less than 11% of Indian startups are focused on deep tech sectors like AI/ML, IoT, space tech, or clean energy.
Key barriers include:
- Lack of early-stage funding for long-term R&D
- Limited collaboration between academia and startups
- Regulatory roadblocks in sectors like defense and health
- Inadequate IP protection and patent support
But the tide may be turning. Initiatives like the National Deep Tech Startup Policy, Startup India, and incubators at IITs and IISc are slowly building the infrastructure for a deep tech renaissance.
Why Gupta’s Voice Matters
Aman Gupta is no stranger to brand building. Under his leadership, boAt became India’s leading audio brand, disrupting global giants and turning hardware into a lifestyle statement. His journey from marketing expert to investor to public figure gives him a rare perspective on both the consumer and capital side of startups.
By aligning with Piyush Goyal’s tough-love approach, Gupta is doing more than echoing policy—he’s setting a new benchmark for what India’s startup leaders should aspire to.
StartupByDoc Takeaway: Talk Less, Build More
Gupta’s stance is a wake-up call for Indian founders, investors, and incubators alike. The next leap for Indian startups won’t come from rebranding global apps or riding trends—it will come from inventing, iterating, and investing in ideas that can change industries.
As the world faces crises in energy, health, security, and education, India has the brains and the scale to lead the deep tech revolution. But only if vision is matched with patience, capital, and courage.
