2 April, 2016, Hyderabad: Moved by the startup sector of the country, IIIT Hyderabad launches its first accelerator program. This program will act as a catalyst to nurture startups related to the world of technology.
IIIT Hyderabad has joined hands with 50K Ventures, T-Hub and Co-Creation Consulting for the program. It is open for startups working on machine learning and AR/VR technologies like image and speech recognition and natural language processing.
Commenting on the development, PJ Narayanan, Director, IIIT Hyderabad said, “The institute has great strengths in areas of AI like natural language processing, computer vision, robotics, speech recognition, etc. These areas have advanced significantly in the recent years due to advances in computing power, data diversity, models, and machine learning techniques. The recent endowment of the Kohli Centre for Intelligent Systems at IIIT, Hyderabad by TCS has given a big push to these areas at the institute. The fruits of academic research should reach the society through startups who focus on products and services based on AI.”
A committee has been made which will monitor the proceedings of the program and will guide the handpicked startups to accelerate their business. This investment committee includes IIIT-H Foundation, 50k Ventures, T-Hub and other reputed VC’s. It will select 10 startups over a period of one year and each of these startups will get a funding of Rs 10 lakh from the committee.