IIMA Ventures and Google for Startups have joined hands to launch the first cohort of AI Academy India 2024. This program aims to provide early-stage AI startups with the necessary resources, mentorship, and technology to tackle challenges in sectors like healthcare, climate, agriculture, education, and financial inclusion. The initiative, supported by the MeitY Startup Hub, has selected 22 startups for its inaugural cohort, offering them practical training, expert guidance, access to Google’s AI technologies, and up to $350,000 in cloud credits. With India’s AI market projected to reach $7.8 billion by 2025 and a potential contribution of $500 billion to GDP, this program aims to foster scalable and impactful AI-driven solutions.
According to Vipul Patel, partner at Seed Investing, IIMA Ventures, “We are proud to partner with Google for Startups to host the AI Academy India Bootcamp in Ahmedabad. This initiative aligns with our mission to foster innovation and entrepreneurship. The bootcamp provides startups with invaluable resources, including access to cutting-edge AI technologies and expert mentorship, strengthening Gujarat’s startup ecosystem.” The selected startups are addressing diverse challenges, such as AI-powered ERP systems in education, electric vehicle marketplaces for climate action, loan simplification tools in fintech, and collaborative AI platforms in healthcare. For example, Magikkraft provides AI-powered inspection and monitoring for energy sustainability, while Credin is developing an inclusive lending platform for Bharat and Vayu, an interoperable mobility app, enables seamless travel and ticketing.
After its successful launch in Gujarat, the AI Academy India 2024 program will expand to six other cities, including Delhi, Bengaluru, Chennai, and Hyderabad, in collaboration with partners like Kerala Startup Mission, T-Hub, IIT Madras Incubation Cell, and Nasscom AI. The program focuses on human-centered, responsible AI through workshops on Generative AI, app development, and product design, coupled with strategies for market scalability, AI-powered marketing, and fundraising. Since 2002, IIMA Ventures has mentored over 7,000 founders, accelerated 1,700 startups, and continues to lead initiatives aimed at growing India’s AI ecosystem.
