AI ecosystem will help startups gain better traction for sustainable growth
The Centre for Innovation and Entrepreneurship (CIE at IIITH), along with T-incubators Accelerator group, has conducted a survey to build a database of AI startups in Hyderabad which will enable an ecosystem where prospective investors, government agencies, startups and incubators can have access to information on AI startups in the city.
The findings of the report are helpful in understanding the domains in which AI is being used. Various academic institutions like the IIITs, IITs are working closely with these startups to bridge the gap between emerging problems and their research using AI.
The report profiles AI startups in Hyderabad based upon a survey of various incubators, accelerators, and startup programs in the city. Startups that are either based out of or are a part of a medium-term program in the city have been considered and have been analysed to present a view of the AI innovation ecosystem. While most of the startups in this section have received pre-seed funding, building an ecosystem around AI startups will help startups gain better traction for sustainable growth.
The findings of the survey show that:
• Medtech domain holds tremendous potential given that Hyderabad is home to several life sciences research institutions like CCMB, IKP, UOH, etc.
• Text analytics have seen a boom in recent years as the documentation online needs to have proper validation.
• Graduates from top universities have played a pivotal role in encouraging their peers to pursue entrepreneurship.
Commenting on the survey, Prof Ramesh Loganathan, Chief Operating Officer, CIE at IIITH, said, “The visibility and understanding of the early stage startups is always very elusive. I am happy to see this profile of AI startups in the city. We should do more”.
While this report was initiated in April 2021, the application to fill further startup names is open. The aim of this report is to strengthen and build the ecosystem around startups in Hyderabad which are not only AI-based, but also from other technologies, said CIE at IIITH in a release on 27 July 2021.
Centre of Innovation and Entrepreneurship, also known as CIE@IIITH is a DST approved incubator operational since 2008. CIE@IIITH has so far supported around 200+ startups and has seed-funded 30 startups. CIE@IIITH was also instrumental being the kiln of the initiatives that culminated into the foundation of T-Hub. Along with developments in AVISHKAR, CIE@IIITH is also focusing on turning a new leaf in terms of infrastructure facilities, programmes and startup engagements focusing towards building a deep tech startup ecosystem. New working spaces are launched, seed funding programmes, structured workshops and mentoring opportunities and technology transfer facilitation are also being deployed now.
The International Institute of Information Technology, Hyderabad (IIIT-H) is an autonomous research university founded in 1998. It focuses on the core areas of Information Technology, such as Computer Science, Electronics and Communications, and their applications in other domains through inter-disciplinary research that has a greater social impact. Some of its research domains include Visual Information Technologies, Human Language Technologies, Data Engineering, VLSI and Embedded Systems, Computer Architecture, Wireless Communications, Algorithms and Information Security, Robotics, Building Science, Earthquake Engineering, Computational Natural Sciences and Bioinformatics, Education Technologies, Power Systems, IT in Agriculture and e-Governance. #technology #investment #startup /fiinews.com
