The International Institute of Information Technology, Hyderabad (IIIT-Hyderabad) has launched its first accelerator programs focused at the startups in the field of deeper technologies.
The program was launched in partnership with 50k Ventures, T-Hub and Co-creation Consulting. It is open for startups working on machine learning and AR/VR technologies like image and speech recognition and natural language processing.
“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”, said P J Narayanan, Director of IIIT Hyderabad.
IIIT Hyderabad as a research institute, enables a supportive atmosphere for startups working in areas of deep-tech. These startups would be hand-picked, funded and mentored by the resources of IIITH Foundation and its network through a structured programme.
The 6 month accelerator program would include investment committee of IIIT-H Foundation, 50k Ventures, T-Hub and other reputed VC’s.
The committee will select upto 10 startups over a period of one year. Each startup will be given a seed fund of INR 10 Lakhs wherein IIIT-H Foundation and 50k Ventures will co-invest INR 5 Lakhs each. Other partners will be taken on board in case there is requirement of more seed funding for the startups.
Startups will also be able to avail the benefit of the large business mentor network of T-Hub. The programs will be customized for each startup basis on their location and their current stage. It is not mandatory for these startups to relocate to Hyderabad for the program.
The application process will start on April 10, 2016 and the deadline is April 30, 2016. The names of the shortlisted startups will be announced on May 10, 2016.
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