India's first Artificial Intelligence (AI) venture factory authorized by the government was opened by T M Anbarasan, the Minister for MSME Affairs for Tamil Nadu.
This Technology Business Incubator (TBI) focuses on AI startups and aims to teach young people in Tennessee about AI.
Speaking at the opening, he stated, "HaiVE, an Australian company with its headquarters in Singapore, has developed a new technology to create a cyber security framework in order to protect the information of States, Center, and private sectors through the growing AI sector." The purpose of this TBI is to teach AI to the young people of Tamil Nadu."
"With a $15 million investment, AI Venture Factory, a non-profit organization, opened India's first TBI in Chennai for the benefit of students. Additionally, Rs 19.84 crore has been allocated by the TN government for TBI development. This enables 4,000 to 5,000 young people to receive AI training annually on average. He went on, "The young people and students who receive this TBI training can find work or launch their own businesses.
The MSME minister added that 31 Entrepreneurship Centers/Hubs have been established for the benefit of students attending the state's 1,545 universities, offering advice on how to launch a firm.
HaiVE CEO Deepika Loganathan discussed the developments, saying, "We are excited to collaborate with the TN government and StartupTN to create India's first government-accredited AI incubator, offering cutting-edge resources, mentorship and a nurturing environment for AI startups."
"HaiVE wants to be at the forefront of influencing AI innovation going forward, assisting business owners and bolstering India's rapidly expanding AI sector. The incubator is intended to function as a "crucible of innovation," she continued, providing cutting-edge resources such as timeshares for H100 AI servers, mentorship from AI specialists, and a supportive atmosphere for nascent AI businesses.
On the event were Archana Patnaik, the MSME department secretary, Arun Roy, the secretary to industries, Kumaragurubaran, the secretary to school education, and other officials.
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