A study by PWC titled “Artificial Intelligence in India-Hype or Reality” says that India, with the help of data and artificial intelligence (AI), can become a $5 trillion economy by 2025. However, AI needs to be extensively utilised in all sectors, ranging from agriculture, MSMEs, and financial services, to healthcare, energy, and logistics to create a vibrant economy.
This formed the genesis of Bengaluru-based ARTPARK— an acronym for AI and robotics technology park. The not-for-profit foundation was set up in 2020 by Umakant Soni, Bharadwaj Amrutur, and Subhashis Banerjee in collaboration with the DST (Dept. of Science and Technology) and the Government of Karnataka (GoK).
Promoted by the IISc (Indian Institute of Science) and supported by AI-foundry, ARTPARK is seed-funded by DST and GoK to the tune of $32 million to help translate cutting-edge research into solutions that can have an impact on the society.
ARTPARK intended to create a collaborative consortium of industry, academic, and government partners. These innovations are aimed at creating a societal impact by carrying out various R&D projects across industries, including healthcare, education, mobility, infrastructure, agriculture, retail, and cybersecurity. Read more.
Editor’s Pick: Turning Point
The Turning Point is a series of short articles that focuses on the moment entrepreneurs hit upon their winning idea. This week, we feature Noida-based edtech startup PhysicsWallah (PW), which was born as a YouTube channel.
Earlier this week, PW joined India’s unicorn club, raising $100 million in Series A funding from WestBridge Capital and GSV Ventures. PW is India’s 101st unicorn. Read more.
Inside Zerodha-backed fintech startup GoldenPi
Bengaluru-based fintech tech startup GoldenPi’s platform makes it easy for anyone to buy and sell bonds or debentures. It offers retail investors newer avenues to park their money while issuers get access to a wider market. Read more.
Why this engineer is betting on ecommerce in the Kashmir valley
Founded in July 2019 by 23-year-old computer engineer Moris Adam, Srinagar-headquartered Koshur Store sources goods from local vendors and sells them across India. In 2021, the startup delivered 37,409 orders at an average ticket size of Rs 1,000. Read more.
Credit: YourStory Design
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