Technology giant Microsoft launches its new initiative named AI innovate to help tech startups grow in India. Microsoft will provide the necessary guidance and resources to startups to scale up their operations and drive innovations.
It is a ten-week-long program that aims to give every possible support and assistance to startups for gaining industry expertise. The initiative is supported by TiE Mumbai and will benefit startups from various industries, including healthcare, finance, education, retail, agriculture, space, eCommerce, manufacturing, logistics, and many more.
The program will aid startups who plan to leverage artificial intelligence solutions to bring innovations in various departments like customer experience, crop prediction, credit rating, and many others. According to Microsoft officials, India has the world’s third-largest AI startup ecosystem, and nurturing them can add over $90 billion to the Indian economy by 2035.
President of Microsoft India, Anant Maheshwari, said, “AI is increasingly at the heart of digital transformation and Microsoft is invested deeply in helping organisations transform through AI. Microsoft AI Innovate program aims to empower startups, for meaningful innovation as they scale by helping them with businesses and industry expertise in AI.”
He further added that Microsoft would focus more on startups working in the BFSI, logistics, and manufacturing sectors for the first two months. Microsoft AI Innovate will provide technical assistance to startups and offer business opportunities for them to make artificial intelligence solutions accessible to everyone.
Selected startups will receive expert guidance sessions from industry leaders to improve their AI technologies. “Microsoft AI Innovate will create an engaging platform to empower startups with opportunities to build, scale and transform with agility,” said the director of startup ecosystem at Microsoft India, Sangeeta Bavi.
She also mentioned that Microsoft is committed to providing the best available assistance to every startup to strengthen their approach to the responsible use of artificial intelligence technologies.