The Indian innovation ecosystem is slowly catching up with that of the US, but more needs to be done, argue Tarun Khanna and K Vijay Raghavan.

Over the past three years, India’s science and technology-focused startup movement has seen steady improvement in quality and in numbers. Today, new Indian companies are becoming pioneers in a range of domains, like computer science, engineering, medicine, drug discovery and agriculture. They are moving smartly beyond their comfort zone of e-commerce ventures.

Policy initiatives that give tax breaks and stimulate intellectual property development are an important impetus for their growth. In addition, the Atal Innovation Mission – the Indian government’s…