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Volume V: Fortnightly update on how collaboration emerged as the key theme in the Indian tech space
Volume V: Fortnightly update on how collaboration emerged as the key theme in the Indian tech space

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The past two weeks witnessed a plethora of activities in the Indian tech domain. Both the central and state governments focused on forging strong global tech ties. Further, strengthening research and development (R&D) in the field of artificial intelligence (AI) continued as a key trend. Another interesting development was Tech Mahindra partnering with 60-70 global capability centres (GCCs) to provide specialised services and groom talent, highlighting how tech companies and GCCs can collaboratively leverage emerging opportunities in the ecosystem. Meanwhile, numerous initiatives were undertaken by the public and private sector to strengthen the start-up ecosystem.

As these themes continue shaping up the Indian tech space, a closer look at how noteworthy themes emphasized collaboration during the period…

India fostering strong global tech ties

The country continued to strengthen global ties in the tech domain. In this regard, a landmark joint declaration on digital public infrastructure (BDPI), artificial intelligence and data for governance was signed by the leaders from the G20 Troika - India, Brazil and South Africa.

Further, Nasscom signed an MoU with Dubai International Financial Centre (DIFC) to enable its member companies to engage with the West Asian city’s fintech and innovation ecosystem. As part of the MoU, Nasscom member companies will gain direct access to DIFC’s AI, fintech, and innovation ecosystem, expanding the global scope for collaboration and partnerships.

A few state governments also focused on fostering greater global ties. To this end, a delegation of 17 UK-based companies in the fields of artificial intelligence and semiconductors visited Kolkata. This was UK’s first-ever tech-focused delegation to the city that aimed to explore business opportunities in Bengal and eastern India. The delegation included companies such as Airnode, Inavya Ventures, VE3, Wootzano, Pragmatic Semiconductor, Singular Intelligence, Praeferre, Digital Tactics, Bikal AI, Binary Intellect, Allot, Secqai and Redoq.

Moreover, the Tamil Nadu government announced plans to establish Tamil Nadu Startup Global Coordination Centres in Singapore and US. These centres aim to support aspiring entrepreneurs by providing global opportunities.

Focus on enhancing AI research and forging partnerships

In a bid to strengthen AI research, the Collaborative Artificial Intelligence Research Labs Foundation (CAIRL) was launched at T-Hub in Hyderabad. CAIRL has been launched with the aim to accelerate AI talent development, promote open-source research, and forge strategic partnerships with institutions like IIT, IIIT, BITS, NIT Warangal, and ISB. Further, CAIRL plans to collaborate with the Telangana government on AI innovation and research, aiming to strengthen the AI ecosystem in Hyderabad and build a skilled AI workforce through industry-academic partnerships.

Meanwhile, the government of Tamil Nadu announced setting up of a centre of excellence for AI with an AI lab infrastructure. The AI lab and other infrastructure part of this centre of excellence (CoE) will be offered to startups, academics, and other parties for a subsidised fee to grow R&D in the field of AI.

Among partnerships, LTIMindtree and Microsoft joining forces to create a joint go-to-market strategy and make joint investments in AI-powered solutions stood out. The partnership aims to allow clients to fast-track adoption of AI solutions and transform ambitious AI visions into actionable strategies.

Moreover, Avathon, a unicorn AI-led solutions provider for infrastructure companies headquartered in Austin, announced plans to ramp up its R&D presence in India, with an investment of $50 million earmarked for the next three years.

Tech companies and GCCs explore synergies

The most noteworthy development in the GCC space remained Tech Mahindra partnering 60-70 GCCs to provide specialised services, address growing demands, and groom talent. The company is also assisting GCCs with their cloud transformation journey, offering a mix of private and public cloud solutions along with co-investing and co-developing training programmes to align with GCC roadmaps.

Further, optics and optoelectronics firm Zeiss inaugurated its GCC in Bengaluru to tap into the tech talent pool and further expand its R&D capabilities. The Germany-based firm plans to hire more than 600 employees at its 43,000 sq ft facility and double the workforce by 2028.

Strengthening the start-up ecosystem

Supporting the growth of start-ups continued to be a key theme. The most notable development in this field remained IIMA Ventures, a startup incubator established by IIM Ahmedabad, announcing a partnership with Google for Start-ups to launch its first cohort of AI Academy India 2024. This program aims to help early-stage AI start-ups which 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.

State governments too led the effort with the Department of Electronics, Information Technology & Biotechnology, Government of Karnataka organizing Venture Capital Connect, a three-day event aimed at connecting startups with investors at the Bengaluru Tech Summit 2024. The programme focused on driving growth for Karnataka-based startups, with support from leading investment associations and registered venture capital networks in India.

The government also announced plans to create 10,000 new start-ups in smaller town and cities in the next five years under the Beyond Bengaluru initiative. These cities include Kalaburagi, Belagavi, Mangaluru, Hubbali and Old Mysore.

Further, Tamil Nadu’s StartupTN signed an MoU with IIM Bengaluru to offer specialised entrepreneurship training for women-led startups. Another MoU was signed with ARAI-AMTIF and Daimler India Commercial Vehicles to open new opportunities for Tamil Nadu-based startups.

The bottomline

At an overall level, collaboration emerged as the key focus area for the Indian tech sector during the past two weeks. In this regard, India strengthening partnerships with Brazil, South Africa, Dubai, UK, Singapore and the US in varied tech domains showcases the country’s focus on driving innovation by adopting global best practices.

Further, partnerships in the R&D domain signify the government, industry and academia’s willingness to collaborate and develop solutions that can leverage each stakeholder’s strengths to drive India’s growth trajectory in the AI domain. However, getting experienced professionals with the required AI expertise can be a challenge that the country might face while driving R&D efforts.

Meanwhile, the Tech Mahindra partnership with GCCs strengthens the case for tech companies and GCCs driving synergies from each other rather than competing. It shows how both can play a collaborative role in shaping India as a hub for tech development.

Lastly, the Venture Capital Connect at the Bengaluru Tech Summit 2024 depicts how states can take the lead in collaborating with the start-up ecosystem, identifying their pain points and iron out funding issues. Such initiatives can prove to be a win-win situation for both start-ups and investors as startups get the opportunity to present their innovations to leading investors and receive guidance on scaling businesses, while investors gained access to a strong pipeline of high-growth startups from various technology sectors, providing a unique opportunity to explore new investment avenues.


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Kuhu Singh
Manager, Research

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