IIMA Ventures (formerly IIMA-CIIE) has partnered with Google for Startups to launch the first cohort of AI Academy India 2024. This initiative is designed to empower early-stage startups to use Artificial Intelligence (AI) to solve global challenges in fields such as healthcare, climate, agriculture, education, financial inclusion, and infrastructure.
The program, which began in Gujarat, will expand to six more cities across India. It will collaborate with Kerala Startup Mission, T-Hub & MATH, IHFC-IIT Delhi, NSRCEL IIM Bangalore, SINE IIT Bombay, IIT Madras Incubation Cell, and Nasscom AI and People+AI. This nationwide effort ensures startups receive the support they need to succeed.
Backed by MeitY Startup Hub, the first cohort includes 22 startups. They benefit from hands-on training, expert guidance, access to Google’s AI tools, and up to $350,000 in cloud credits. Additionally, participants get networking opportunities with top global companies.
“We are proud to partner with Google for Startups to host the AI Academy India Bootcamp in Ahmedabad. This initiative perfectly aligns with our regional incubation mission to foster innovation and entrepreneurship. The bootcamp has provided 22 promising startups from Gujarat with invaluable resources, including access to cutting-edge AI technologies and expert mentorship. We look forward to hosting more such programs to strengthen the startup ecosystem in Gujarat,” said Vipul Patel, Partner, Seed Investing, IIMA Ventures.
The Indian AI market is expected to grow to $7.8 billion by 2025, with the potential to contribute $500 billion to the country’s GDP. This demonstrates the massive economic impact AI can bring.
According to IIMA Ventures, the startups are tackling various challenges. For instance, they are creating AI-powered tools for education, developing platforms for electric vehicles to combat climate change, simplifying loan and insurance documents in fintech, and building collaborative platforms in healthcare to improve business efficiency.
IIMA Ventures has already guided over 7,000 founders, accelerated 1,700+ startups, funded 700+ companies, and inspired millions through 400+ publications. Their legacy continues to shape India’s startup ecosystem.
