The real task in neurotechnology is to develop man as a creator and not as a consumer, enhance human-to-human interaction, help people understand each other better, and design a society of free and capable thought leaders, not just a bunch of individualists that have lost their identity and melted into artificial intelligence (AI), Alex Panov, chief executive of the Moscow-based Neiry group of neurotechnology companies said.
Panov's comments came after SPEC Finance announced the setting up of setting up ADI Neuroscience, a ₹10,000 crore neurotechnology-focused fund aimed at accelerating research in the sector in India over the next five years.
A key advisor to the fund, Panov said it will aim to achieve the 'big goals with humanistic values' espoused by him, by investing in local neurotech startups, scientific teams and laboratories.
"We believe that by using neurotechnology in the right manner, we can increase humanity's ability to think deeply, and ask new and important questions," Panov said. The fund aims to bring together scientists, businesses and capital from around the world to make India a neurotechnology hub, he added. It also has a group of legal entities and individual investors backing it.
Arguing that these big goals will be the main call of the century, Panov said they need equally big leverage. "Leveraging resources, quality of thinking, political will, and the fundamental philosophical values of countries that will lead this long term.. After discussing all this, India has been chosen to be that country," he said.
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ADI Neuroscience will aim to enhance mental health, through neuroenhancement of memory, knowledge, and creative thinking. It will focus on the scientific frontier and brain-to-brain synchronisation technologies as the next stage of interaction between people, including the technological transfer of sensations, emotions, thoughts, and skills between individuals.
The fund's third goal will be the creation of a noosphere-a global network for exchanging thoughts and ideas, whose development is expected to involve global leaders in science, government, business, philosophy, and religion.
India's brain-computer interface (BCI) market is growing, possessing structural characteristics that distinguish it from the US. India ranks third globally by the number of BCI startups, with a dozen companies, behind only the US and China, according to market intelligence platform Tracxn. Development in India is currently focused on accessible solutions for neuroenhancement, assistive communication and rehabilitation after neurological injuries. Standards, regulatory frameworks and markets for neurotechnologies are still taking shape.
Based in Gujarat's GIFT City, SPEC Finance operates as a non-banking financial company. "The development of neurotechnologies is directly complementary to the Viksit Bharat 2047 programme," said Karan Dinesh Singh Rawat, director and group CEO at SPEC Finance India. "The fund's resources will be directed toward advancing neurotechnology R&D in India, creating competitive products, and developing the industry domestically."
Moscow-based Neiry group led by Panov includes Neurotrend, a neuromarketing firm manufacturing its own equipment and software for neurophysiological research, besides developing algorithms for neurodata analysis. Another unit Neurotech specialises in the development and production of professional medical equipment for neurophysiology, functional diagnostics, and rehabilitation.
