IIMA Ventures, a startup incubator established by IIM Ahmedabad, has announced its partnership with tech giant Google for Start-ups to launch its first cohort of AI Academy India 2024. This program aims to help early-stage AI start-ups who address global challenges across sectors like agriculture, education, infrastructure, climate, and healthcare.
The first cohort includes 22 start-ups which will receive expert mentorship, practical training, access to Google’s AI technologies, up to $350,000 in cloud credits, and opportunities to network with world-class companies. In India, the AI market is expected to reach $7.8 billion by 2025, according to market research.
After Gujarat, AI Academy India 2024 will expand its partnerships with Kerala Startup Mission, T-Hub & MATH, IHFC-IIT Delhi, NSRCEL IIM Bengaluru, SINE IIT Bombay, IIT Madras Incubation Cell along with Nasscom and People+ai.
India's GenAI Funding in Q2FY25
India has secured its position as the sixth largest global player in the Generative AI (GenAI) startup ecosystem, with notable advancements in innovation, funding, and talent. The country’s GenAI sector saw a significant boost in Q2FY2025, according to Nasscom's latest Generative AI Tracker.
Key startups like Nurix AI, Dashtoon, and Mihup are leading with innovative solutions in workflow management, digital comic creation, and conversational analytics. Q2FY2025 also witnessed a 6X surge in investments, driven by B2B platforms and productivity tools, with 20 funding rounds marking a strong recovery from Q1's slowdown.
The report highlighted that the funding rebound was led by applications and services and it led to a total funding growth of 3.4X year-on-year, led by investments in enterprise applications and Agentic AI.
Funding rounds in India's GenAI sector tripled in Q2FY2025, with early-stage investments making up 77 per cent of the total, including angel and seed funding. Tech providers saw continued growth, shifting focus from building use case portfolios to converting proof-of-concepts (PoCs) into production-ready solutions.
