AI Mission Launched by PM Modi: A New Era for Indian Startups
Arunkumar K.
CTO @ Sennovate | Pioneering AI Cybersecurity Solutions | Former CISO in Web3 & Crypto | Experienced with Bolstering defences for State & National Governments
Welcome to "Swadesi Startups Speaks," the podcast that shines a spotlight on the vibrant and dynamic world of Indian startups. In today’s episode, we’re going to delve into some of the most exciting developments in the Indian startup ecosystem. From Prime Minister Narendra Modi’s groundbreaking AI Mission to the innovative startups making waves in various sectors, we’ve got a lot to cover. We’ll also look at how high-net-worth individuals and celebrities are breathing new life into startups during the current funding crunch. So, whether you’re an entrepreneur, investor, or just startup-curious, join us as we explore the latest trends and stories from the heart of India’s startup scene.
Prime Minister Narendra Modi announced the launch of an AI Mission to provide compute power to startups and innovators in India, focusing on sectors like agriculture, healthcare, and education. The mission aims to promote innovation and mitigate risks associated with AI. The GPAI Summit was also inaugurated, where international delegates will engage in discussions on AI and its responsible use.
India's tech startups have seen their lowest funding in 5 years, with $7 billion in total funding in 2023, a 72% decline from the previous year. The number of $100 million+ rounds has also decreased by 69%. Despite this, sectors such as Environment Tech and SpaceTech have garnered investor attention. The top-funded companies in the retail and FinTech sectors are Lenskart and PhonePe, respectively.
How high-net-worth individuals (HNIs), celebrities, and veteran entrepreneurs have provided a lifeline to startups in India, despite the current funding winter. These investors have made over 100 investments in 2023, with a focus on sectors such as AI, EV, and sustainable agriculture. Some notable investors include Zerodha co-founders Nithin and Nikhil Kamath, Paytm founder Vijay Shekhar Sharma, and celebrities such as Alia Bhatt and Akshay Kumar. These investors bring not only financial support but also valuable resources such as distribution and influence, which can help startups scale and increase their reach.
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And that’s a wrap for this episode of "Swadesi Startups Speaks." We hope you enjoyed this journey through the diverse and exciting landscape of Indian startups. From groundbreaking governmental initiatives to the innovative strides in various sectors and the vital role of celebrity investors, it's clear that the Indian startup ecosystem is bustling with potential and resilience. Join us next time as we continue to bring you the latest and most inspiring stories from the world of Indian entrepreneurship. Until then, keep innovating, stay inspired, and remember, the future is Swadesi!
Founder at Gururo
9 个月Congratulations on the new episode! Can't wait to listen to it! ??
? CEEX | AI powered smart grid solution for the energy transition ?? Innovation Enthusiast ?? People Connector
9 个月Absolutely fascinating! Can't wait to listen to it!
Senior DevOps Engineer | Cloud Computing, Virtualization, Containerization & Orchestration, Infrastructure-as-Code, Configuration Management, Continuous Integration & Delivery, Observability, Security & Compliance.
9 个月Great episode! Can't wait to listen to it! ???