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Zee partners with NASSCOM to propel generative AI startups in India
IndianStartupNews
·
1y ago
Medial
Zee Entertainment Enterprises Ltd. has formed a strategic partnership with NASSCOM to support the Generative AI Foundry program. The initiative aims to foster innovation and growth in the startup ecosystem, particularly in the field of artificial intelligence. ZEE's Technology and Innovation Centre will focus on developing generative AI solutions for the Indian media and entertainment sector. The collaboration aims to integrate advanced AI technologies into the industry, revolutionizing consumer experiences. A recent workshop brought together 14 startups from the NASSCOM program to identify areas of interest and potential partnerships.
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Nasscom selects 26 Indian startups to unlock generative AI potential
IndianStartupNews
·
1y ago
Medial
Nasscom has chosen 26 startups out of over 70 applicants for its Generative AI Foundry program, aiming to drive innovation in the field of Generative Artificial Intelligence. The selected startups have received support from over 30 industry and investor partners, with investments of up to $25 million committed. These startups, averaging 2 years old and already having secured funding, offer diverse AI solutions for sectors such as retail, media, entertainment, and banking. The program will provide mentoring, resources, and opportunities for paid proof of concepts to help startups excel in the competitive AI landscape and establish India as an AI innovation leader.
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India Home To 13K Startups In AI, IoT, Robotics, Nanotechnology: Economic Survey 2024
Inc42
·
1y ago
Medial
India has emerged as a hub for startups working in emerging technologies such as AI, IoT, robotics, and nanotechnology, with over 13,000 startups in these sectors by the end of FY24. A NASSCOM report states that India has 16% of the world's AI talent, further solidifying its position as an innovation hub. The generative AI ecosystem in India is also showing promising growth, with over 100 startups in this sector collectively raising $600 million in funding since 2019.
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Nasscom, Meta launch challenge to foster startup, developer community in open-source, GenAI domains
YourStory
·
1y ago
Medial
NASSCOM and Meta have partnered to launch the 'Open-Source Generative AI Grand Challenge'. The challenge aims to foster a community of startups and developers working on open-source and Gen AI technologies for socio-economic impact. The Centre for Development of Advanced Computing (C-DAC) is the technology partner and will provide computing infrastructure. The challenge invites generative AI startups and developers to create impactful solutions in domains like education, enterprise, and e-governance. Winners will receive awards of up to Rs 4 lakh, and runners-up will receive up to Rs 1 lakh. Mentoring will also be provided to participants during the challenge.
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Despite challenges, India saw birth of over 950 tech startups last year: Report
Economic Times
·
1y ago
Medial
According to a report by Nasscom and Zinnov, despite challenges such as valuation issues and regulatory changes, India remains the third largest tech startup ecosystem globally. Over 950 tech startups were founded in India last year, with cumulative funding for over 31,000 startups exceeding $70 billion from 2019 to 2023. Despite layoffs, startup founders are prioritising enhancing business fundamentals and driving profitability. Tech startups in tier 2 and 3 cities are also thriving. In 2024, startups expect to focus on revenue growth, optimising expenditure, and incorporating AI solutions.
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Nasscom wants government to let overseas Indian startups list directly
Economic Times
·
1y ago
Medial
Indian industry body Nasscom has recommended that India-focused startups incorporated overseas should be allowed to list on domestic stock exchanges within existing externalized structures, as part of its Union Budget 2024-25 recommendations. Approximately 16.5% of Indian-origin startups with externalized legal structures would consider raising equity capital through public listing in India if regulations were amended. This move could reduce tax liabilities for companies and investors. Nasscom has sought a viable framework for such listings from market regulator Securities and Exchange Board of India and the finance ministry.
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Startup Mahakumbh: Deeptech Pavilion To Showcase Innovations, Foster Collaboration
Inc42
·
1y ago
Medial
The deeptech pavilion at the Startup Mahakumbh event in India, organised by ASSOCHAM, Nasscom, Bootstrap Incubation & Advisory Foundation, TiE, and IVCA, will provide a platform for Indian startups to showcase their innovations. Led by Nasscom, the pavilion will feature approximately 34 deeptech startups and will host panel discussions and fireside chats with industry experts on topics such as research funding models, intellectual property protection, and attracting and retaining talent in the deeptech sector. The event aims to raise awareness about deeptech and its potential to transform various industries in India.
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Exclusive: Gen AI startup Simplismart to raise $7 Mn led by Accel
Entrackr
·
1y ago
Medial
Generative artificial intelligence startup Simplismart is all set to raise a new round led by Accel, two sources aware of the matter told Entrackr. The Bengaluru-based startup will join a growing list of generative AI startups which have raised decent funding in the ongoing calendar year. “Accel is leading $7 million round in Simplismart with backing from existing investors,” said a source requesting anonymity. “Simplismart has received the term sheets and the deal is set to be public soon.” Simplismart previously raised seed money from Anicut Capital, Sunn91, First Cheque and Shastra VC but it didn’t announce the deal in the media. Founded in 2022 by Amritanshu Jain and Devansh Ghatak, Simplismart enables businesses to build a scalable production-grade AI system and manage the development lifecycle without writing a single line of code. As per the company, its platform lets an amateur as well as an expert train and monitor ML models collaboratively on almost any kind of data or use-case. Sources assert that the company will be valued at around $35 million. Accel declined to comment on the story while queries sent to Simplismart did not elicit any response. In July 2023, AWS and Accel launched the AWS ML Elevate program which selected 35 generative startups from India and Simplismart was a part of the cohort. A recent study by NASSCOM said that the number of generative AI startups in India has more than doubled from 2021 to 2023. This can also be evident from the surge in funding in such startups since December 2023. As per data compiled by startup data intelligence platform TheKredible, more than half a dozen early-stage generative AI startups have raised nearly $100 million in funding in the past six months, Sarvam AI leads the pack with $41 million in Series A followed by Ema and Neysa which raised $25 million and $20 million in their seed round respectively. The list also includes Vodex, KonProz, Dubpro.ai, PlanckDOT and Ayna.
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Amazon awards $100,000 grant to 3 startups
Economic Times
·
1m ago
Medial
Amazon India awarded $100,000 in equity-free grants to three startups—Auric, ISAK Fragrances, and Fix My Curls—through its Propel Global Business Accelerator Season 4. The program, launched in May 2024, received over 900 applications from D2C brands, selecting 54 finalists. Propel Season 5 was also announced, offering the top 100 applicants mentorship, marketplace insights, and logistics support to help expand internationally, with the top three winners sharing another $100,000 in grants.
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Uber announces startup challenge to fast-track adoption of sustainable mobility
Economic Times
·
1y ago
Medial
Uber has announced a startup challenge in collaboration with Startup India and Nasscom AI to find innovative solutions that promote sustainable mobility. The winning startup will receive a grant of $120,000 and the top three entries will have the opportunity to attend mentorship sessions with Uber's tech leadership in India. This initiative aligns with Uber's commitment to achieving net-zero emissions by 2040 and promoting an ecosystem that encourages startups to work on sustainable solutions.
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Indian startups: 83,000 patents in FY23; AI, neurotech top
Internet
·
1y ago
Medial
Led by artificial intelligence (AI), Internet of Things (IoT) and neuro-technology, India witnessed 83,000 patents being filed by deep-tech startups in FY2023, marking an annual growth rate of 24.6 per cent which is highest since the last two decades, a Nasscom report showed on Friday.
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