As many as 62 start-ups have been selected for the third cohort of Telangana AI Mission’s Revv Up accelerator.
The start-ups are from 13 States and represent 15 sectors, including enterprise SaaS, smart cities, agriculture, healthcare and education, Industries and IT Minister K.T. Rama Rao’s office said on Friday in a release announcing their selection.
Supported by IT industry body Nasscom, Revv Up is a 12-month accelerator for start-ups offering solutions using Artificial Intelligence (AI) and seeks to enable and empower them through a series of structured interventions. The programme commenced in August last year and with the third cohort, will impact over 140 AI start-ups.
The call for applications, for the third cohort, attracted over 220 applications, which the Minister’s office said was a pointer to the growing popularity of the programme and its benefits.
Over 80% of the start-ups selected for the cohort are from other States and had expressed an intent to open a local office next year. More than 20% start-ups in the cohort have a female founder and over 80% is either bootstrapped or has early funding.
“Pleased to see our State-sponsored acceleration programme grow by leaps and bounds by supporting start-ups from around the country. This is a testament to the strength of Telangana innovation ecosystem and supportive policies in place for start-ups. I would like to invite start-ups, particularly those in the field of AI, to come to Telangana and benefit from our favourable start-up environment,” Mr. Rao said.
The next cohort of Revv Up is expected to commence in May 2023 and applications are tentatively planned a month prior.