Shastra VC, an early-stage venture capital firm, has launched a deeptech fellowship aimed at converting academic research into venture-ready startups.
The programme, called SDEX, offers equity-free funding of up to $100,000 per fellow and targets researchers from institutions including IITs, IISc, IISERs, NITs and IIITs. The fellowship runs for 16 to 24 weeks and is structured around technical validation and early commercialisation.
SDEX’s first cohort will admit up to 15 teams. Applications close on January 31, 2026.
The programme will operate through two tracks: a challenge track focused on predefined technical problems, and a frontier track for open-ended research with defined technical milestones.
Shastra VC is led by managing partners Vasant Rao and Avijeet Alagathi, both with operating and investing backgrounds in early-stage technology ventures. Rao is an active backer of Indian startups and holds investments across sectors including aerospace through Agnikul Cosmos, and SaaS and consumer platforms through Dukaan and Eloelo.
Alagathi is a former founder of fitness technology startup BookYourGame and an investment manager at the IIM Kozhikode Alumni VC Fund.
“What has been missing is early support that turns strong research into venture-ready proof,” said Jivesh Madan, Programme Lead for SDEX. “SDEX is built to bridge that gap by funding early technical validation and providing close mentorship.”
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Shastra VC describes India’s deeptech ecosystem as an inflection point, supported by government-backed initiatives including a proposed Deep Tech Fund of Funds. However, the firm cited a persistent gap between lab-stage research and commercially viable startups.
“SDEX fits perfectly into this moment—it creates a VC-led proof-to-venture bridge that helps deep-tech ideas get validated earlier,” said Avijeet Alagathi, partner at Shastra VC.
Shastra VC said it has backed more than 30 startups including Alt Carbon, Simplismart, SISIR Radar, Sanlayan and Inspecity.
The fund typically invests up to $3 million at early stages and focuses on frontier technology, climate tech and artificial intelligence.
