Telangana AI mission's 'Revv Up' accelerator picks 62 Startups for the third Cohort
The call for applications received over 220 applications, indicating the program's growing popularity and benefits
HYDERABAD: Telangana AI Mission (T-AIM) announced the selection of 62 startups for the third cohort of the Revv Up acceleration programme on Friday.
The government's 'Revv Up' programme, powered by NASSCOM, is a 12-month programme that will enable and empower AI startups through a series of structured interventions. The programme will have impacted more than 140 AI startups with the addition of the third cohort.
The call for applications received over 220 applications, indicating the program's growing popularity and benefits. Startups applying for the Revv Up programme were subjected to a rigorous selection process that examined their solutions, scalability potential, and other factors.
K T Rama Rao, Minister for IT, and Industries said, "I am pleased to see Revv Up, our state-sponsored acceleration program for AI startups, grow leaps and bounds by supporting startups from around the country. This is a testament to the strength of the innovation ecosystem in Telangana and the supportive policies we have put in place for startups. I would like to invite startups, particularly those in the field of AI, to come to Telangana and benefit from our favourable startup environment. We are committed to supporting the growth and success of these startups and helping them scale and reach their full potential."
The third cohort includes 15 industries, including Enterprise SaaS, Smart Cities, Agriculture, Healthcare, and Education. Over 80 percent of the startup cohort from outside Telangana have expressed intent to open a local office in the next year, hailing from 13 Indian states. More than 20 percent of the startups in the cohort have a female founder, and more than 80 percent are bootstrapped or have early funding.
Jayesh Ranjan, Principal Secretary, Government of Telangana, said, "The selected startups and their founders represent novel AI-based innovations that impact businesses and our society. From addressing crop health, to aiding citizen and women's safety, enabling medical diagnostics, and promoting sustainability, these startups demonstrate the potential of AI to make a positive impact on the world. We look forward to supporting their growth and success as they work to bring these ideas to fruition."
Revv Up, which began in August last year, has been providing opportunities for AI startups to interact and collaborate with various government agencies and industry.
Startups have been receiving mentorship and knowledge sessions from industry experts, access to global pathways, and technology and IP resources to build scalable businesses.
The next cohort of Revv Up is expected to commence in May 2023 and applications are tentatively planned a month prior.