New Delhi | Updated: February 27, 2024, 8:25 AM IST
Key Points:
- Union Minister of State for Electronics and IT Rajeev Chandrasekhar foresees the next innovation wave in India emerging from semiconductors and artificial intelligence (AI).
- Chandrasekhar unveils the ‘Investor Information and Analytics Platform’ developed by IIT Madras to address the gap in understanding the innovation ecosystem.
- The platform, featuring an AI-based conversational interface named ‘StartupGPT,’ aims to provide comprehensive data access to researchers, policymakers, and entrepreneurs.
- With data on over 200,000 startups, the platform aims to streamline access to capital and resources for entrepreneurs, supported by over 11,000 angel investors, 5,000 venture capitalists, and more.
Union Minister of State for Electronics and IT Rajeev Chandrasekhar recently unveiled insights into India’s startup innovation landscape, highlighting the nation’s readiness for the next wave of innovation, particularly in semiconductors, microelectronics, AI, and high-performance computing sectors.
Speaking at the launch of the ‘Investor Information and Analytics Platform’ developed by IIT Madras, Chandrasekhar emphasized the platform’s pivotal role in bridging the gap in understanding the innovation ecosystem. The platform, featuring an AI-based conversational interface named ‘StartupGPT,’ aims to provide comprehensive data access to stakeholders navigating the startup landscape.
“This platform will serve as a valuable resource for researchers, enabling them to comprehend the growth dynamics within the ecosystem. Additionally, it will aid public policymakers in crafting responses and initiatives aligned with these dynamics,” stated Chandrasekhar.
The collaborative effort between IIT Madras and the Centre for Research on Start-ups and Risk Financing (CREST) offers a comprehensive repository of information crucial for startups. Professor Thillai Rajan A, Head of CREST at IIT Madras, underscored the platform’s potential in advancing India towards an innovation-driven economy.
“Platforms like these will democratise access to information and capital, thereby accelerating the commercialisation of innovation,” remarked Professor Rajan. He further highlighted the platform’s potential to benefit young entrepreneurs by facilitating connections with experts, investors, and mentors tailored to their ventures.
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