New Delhi: Michelin, in collaboration with the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, has announced the sector’s first AI Startup Challenge. This initiative aims to foster innovation and entrepreneurship within India's burgeoning startup ecosystem.
The AI Startup Challenge is designed to identify, mentor, and collaborate with top AI startups across India. Hosted on the Startup India portal, this 12-week program invites startups to submit applications showcasing their technological prowess.
Selected startups will receive mentorship, with the top eight presenting their ideas at a demo day in Delhi in September 2024. The three best startups will receive paid pilot projects from Michelin, with funding of up to ₹5 lakh per project, along with the potential for long-term global contracts and incubation support from Michelin leadership.
Rajesh Kumar Singh, Secretary of DPIIT, commented on the initiative, saying, "Michelin and Startup India, through the AI Challenge, invite Indian startups to co-develop technical solutions using large language models for various business applications.
The Michelin AI Startup Challenge provides opportunities to enhance manufacturing processes, improve product quality, increase safety, and reduce defects through AI and robotics. This initiative aims to create sustainable products and introduce Indian talent to global markets. I encourage all DPIIT-recognized startups to apply and wish them success."
Dr. Ambica Rajagopal, Michelin Group Chief Data and AI Officer at Michelin India, expressed her enthusiasm, stating, "This is an exciting time for AI startups, and we are thrilled to contribute to the advancement of India's technology sector. This collaboration with the government’s visionary Startup India initiative underscores our commitment to the AI industry."
The initiative will unfold in multiple stages, beginning with outreach and applications in July 2024, followed by shortlisting and mentorship until September 2024.
The grand finale will feature the top startups presenting their solutions to a panel of judges from Startup India and Michelin India.