AI startups to get mentorship with third cohort of 'Revv Up', T-AIM opens applications
The second cohort, comprising 38 startups, was selected in March this year
HYDERABAD: Telangana AI Mission (T-AIM), on Tuesday, opened applications to the third cohort of the Revv Up startup acceleration program by the Government of Telangana, powered by NASSCOM. Early-stage startups working in Artificial Intelligence (AI) were eligible to apply.
Revv Up, which began its first cohort of 42 startups in August last year, was providing exclusive opportunities for AI startups to solve societal and business problems through partnerships with the Government and industry respectively. The second cohort, comprising 38 startups, was selected in March this year.
Startups were receiving mentorship from industry experts in technology and IP support as they aimed at building scalable businesses with AI-based offering at their core.
From the nearly 15 startups that had interacted with Government of Telangana to explore Proof of Concept opportunities, few of them were in advanced discussions for pilot deployments. More than 40 startups had the opportunity to pitch to more than 35 investors; some of them also either received funding or were on the verge of being funded soon.
T-AIM recommended the participation of four in five Indian startups at the G20 Digital Innovation Network held last month in Indonesia and two of them won awards. Through international partners and global trade channels, more than 30 startups had actively considered North America, Central Europe and APAC market through roadshows, digital delegations and virtual booths enabled by the program.
Nearly 85 percent of the first cohort had found the mentor program helpful and aims to continue seeking advice from highly experienced individuals from the industry. The mentor program currently has over 20 distinguished business leaders supporting the startups.
Speaking on the occasion, Principal Secretary, Government of Telangana, Jayesh Ranjan, said, "Since 2021, the Revv Up program has been supporting 80 startups that possess cutting-edge and impactful solutions to solve real-world problems. Through T-AIM, the Govt. of Telangana remains committed to providing a conducive ecosystem for AI startups. On behalf of the state, I welcome startups from across the country to apply to this program."
The 12-month long, free-of-equity or cost program is aimed at sector-agnostic AI startups that are based in Telangana or intending to set up their facility in the state. To join the Revv Up accelerator program, startups can apply here: https://bit.ly/Apply-RevvUp-Co3.