Telangana artificial intelligence accelerator program ‘Revv Up’ selects 42 startups to enable them to work closely with the government to develop solutions for complex business problems.
The 42 selected startups under the Revv Up project will receive help from the government and industry to set up their business on a larger scale. The startups will also receive expert mentorship, technology, and IP support from many industry leaders.
The Telangana state government selected startups from eleven different industries from ten states across the country. The NASSCOM-powered project carefully handpicks selectors to scrutinize the use cases of the applicants before finalizing the results.
State Principal Secretary of the Telangana government, Jayesh Ranjan, said, “The participating entrepreneurs and their startups represent innovations powered by artificial intelligence. From addressing noninvasive healthcare solutions to climate modeling and new ways to support learning; These founders will greatly impact how our future will be shaped.”
According to officials, more than 50% of the selected startups are outside Telangana. The startups plan to open a local office in the region by 2022. Over 70% of the startups have already received funding, and 25% of the selected companies have at least one female founder.
The first phase of the Revv Up program will commence its operations this month, and the second phase is expected to be launched in the first quarter of the next year. According to the government report, the program will start accepting applications for its second round in February 2022.
The President of NASSCOM, Debjani Ghosh, said, “NASSCOM’s close partnership with Telangana will provide significant impetus for startups and their aspirations to become the artificial intelligence garage for the world.”