The Department for Promotion of Industry and Internal Trade has formally defined a deep tech startup as one building solutions on new scientific or engineering knowledge, spending most of its funds on R&D, creating significant intellectual property and working to commercialise it. Firms can retain this status for up to 20 years with turnover up to Rs 300 crore. Applications for DPIIT certification are reviewed by an Inter-Ministerial Board including DST and the Department of Biotechnology. The move ties in with the Rs 1 lakh crore Research, Development and Innovation (RDI) Fund.