The Gurgaon-based company and data science firm Algo8 joins hands to promote growth of AI/ML companies in the academic campuses.
India Accelerator, a launch pad for early-stage startups, and Indo-Canadian AI/ML deep tech firm Algo8 are launching deep tech ecosystem in IIT campuses as part of their joint initiative, called Prithvi.
The first cohorts will be created in IIT Kanpur and IIT BHU and would go live in summer semesters. The companies have signed an MoU with the two institutes in this regard.
Prof. Bandyopadhyay from IIT Kanpur said, “Prithvi is an exciting experiment that can create exponential growth of AI/ML companies in the academic campuses.”
Prof. P.K. Mishra, coordinator of Malaviya Centre for Innovation, Incubation and Entrepreneurship (MCIIE), IIT BHU, believes that collaboration with India Accelerator will help further strengthen the startup ecosystem in the campus.
“It will help students engage with industry through structural programme run by India Accelerator. Further this association would help our students take locational advantage to engage with different stakeholders in their startup journeys,” he said.
The focus is on AI/ML enabled deep tech startups
Started in 2017 in Gurgaon, India Accelerator runs mentorship driven acceleration programmes for technology startups in artificial intelligence (AI), blockchain, consumer space, finance, gaming, e-commerce and Agritech.
It aims to stimulate the establishment and growth of startup ecosystem and to increase the number of successful companies originating and developing in India.
On the other hand, Algo8 specialises in systemising tacit knowledge in O&G, process industry, healthcare, retail, telecom and BFSI.
The joint programme will focus on incubation and acceleration of AI/ML enabled deep tech startups.
Ashish Bahtia, Founding Partner, India Accelerator, commented, “This launch will be beneficial for new technologies and innovations. Deep tech ecosystem is raising globally. It is the next stage of continuous progress in platform technologies. This technology has power to create its own markets. It will also help companies to achieve growth and success.”
Nandan Mishra, CEO of Algo8, added, “The availability of data will enable AI to give birth to new epistemologies and challenge/change the decision science paradigm in multiple walks of life. Using it to create scalable systems that benefit businesses and individuals is what we intend to do. Ecosystems would play a big role in this. We have created that through Prithvi.”