IIMA Ventures, formerly known as IIMA-CIIE, has partnered with Google for Startups to launch its first cohort of the AI Academy India 2024. This transformative program is designed to help early-stage startups leverage the power of Artificial Intelligence (AI) to tackle global challenges across a wide range of sectors, including healthcare, climate change, agriculture, education, financial inclusion, and infrastructure.
After its successful launch in Gujarat, the AI Academy India 2024 will expand its reach to six other cities across India, collaborating with esteemed organizations like Kerala Startup Mission, T-Hub & MATH, IHFC-IIT Delhi, NSRCEL IIM Bangalore, SINE IIT Bombay, IIT Madras Incubation Cell, as well as Nasscom AI and People+AI. The program is supported by MeitY Startup Hub, which aims to foster innovation and entrepreneurship in India’s rapidly growing AI ecosystem.
The inaugural cohort consists of 22 promising startups selected for their potential to use AI for meaningful impact. These startups will receive tailored practical training, access to expert mentorship, and Google’s cutting-edge AI technologies. In addition, participants will benefit from up to $350,000 in cloud credits and numerous networking opportunities with world-class companies, allowing them to accelerate their innovation journey.
The program is designed to support startups working on AI-driven solutions for various sectors. Some examples include AI-powered ERP, LMS, and CRM systems in education, a social marketplace for electric vehicles addressing climate change, AI tools for simplifying loan and insurance documents in fintech, and AI-driven platforms for streamlining healthcare business processes.
The AI market in India is poised for exponential growth, with projections indicating it could reach a value of $7.8 billion by 2025 and potentially contribute $500 billion to the nation’s GDP. IIMA Ventures’ initiative is positioned to play a crucial role in nurturing the next generation of AI-driven startups, helping them scale and create sustainable solutions for pressing global issues.
IIMA Ventures has an impressive track record of supporting entrepreneurs, having mentored over 7,000 founders, accelerated more than 1,700 startups, and provided catalytic capital to over 700 companies. Their efforts have inspired millions through publications and other initiatives aimed at fostering innovation and entrepreneurship.
AI Academy India 2024 marks an exciting step forward in India’s AI revolution, offering immense potential for startups to make a significant impact on the world.
