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In a significant move to empower AI startups, IIMA Ventures (formerly IIMA-CIIE) announced its partnership with Google for Startups to launch the first cohort of the AI Academy India 2024.
The program, supported by MeitY Startup Hub, aims to harness artificial intelligence (AI) to address global challenges in sectors such as health, climate change, agriculture, education, financial inclusion and infrastructure.
The inaugural cohort includes 22 early-stage startups, providing them with hands-on training, expert mentorship, and access to Google’s cutting-edge AI technologies. Participants will also receive up to $350,000 in cloud credits and have the opportunity to network with leading global companies.
“We are proud to partner with Google for Startups to organize the AI Academy India Bootcamp in Ahmedabad. This initiative is in line with our mission to foster innovation and entrepreneurship. The bootcamp provided 22 promising startups with invaluable resources , and we look forward to welcoming more such programs to strengthen Gujarat’s startup ecosystem,” said Vipul Patel, Partner, Seed Investing, IIMA Ventures.
The selected startups address various challenges: developing AI-based ERP, LMS and CRM systems for education; create social markets for electric vehicles; use AI tools to simplify loan and insurance documentation in fintech; and create collaborative platforms to streamline healthcare processes.
The program extends beyond Gujarat to six other cities, in partnership with organizations such as Kerala Startup Mission, T-Hub & MATH, IHFC-IIT Delhi, NSRCEL IIM Bangalore, SINE IIT Bombay and IIT Madras Incubation Cell.
Workshops focus on building responsible, human-centered AI solutions, leveraging Google technologies for generative AI, application development, and web AI. Participants also benefit from technical mentorship and growth-focused strategies, including AI-powered marketing and fundraising.
Since its inception in 2002 at IIM Ahmedabad, IIMA Ventures claims to have mentored over 7,000 founders, accelerated over 1,700 startups and invested in over 700 companies. It has pioneered initiatives such as India’s first accelerator and the first deep tech fund, thereby strengthening its role in the Indian innovation ecosystem.