LTTS, Nasscom partner to support Gen AI Startups

Digital engineering firm L&T Technology Services Limited has teamed up with industry body Nasscom's Generative AI Foundry initiative to boost startups in the Generative AI sector in India. 
 
On October 19, Nasscom revealed its commitment to supporting Indian startups in the artificial intelligence (AI) sector. The organisation announced the selection of 26 startups for its first-ever 'Generative AI Foundry' program. 

Nasscom reports that Gen AI startups in India have raised over $475 million in funding from 2021 to May 2023, showing rapid growth. LTTS plans to help this growth by providing support to a selected group of startups. Out of the 26 startups chosen, LTTS will mentor them, assist in product development, and offer Proof of Concepts aligned with their technology. The collaboration will also include bootcamps and workshops to improve the startups’ expertise.

LTTS brings its expertise through platforms like AiKno and Chest-rAi. AiKno makes it easier for businesses to use AI models, while Chest-rAi aids radiologists in quickly and accurately analysing chest X-rays.

Ankit Bose, Head of AI at Nasscom, said, "Our collaboration with L&T Technology Services is a big step in supporting promising startups with the resources and expertise they need to innovate not only in India but globally."

Abhishek Sinha, COO, and Board Member at L&T Technology Services, expressed their eagerness to help startups in the generative AI sector grow. Sinha said, "We want to accelerate the growth of startups, helping them make a significant impact locally and globally. Our partnership with Nasscom is a step towards creating an environment where artificial intelligence can thrive, contributing to India’s digital economy." 

To be sure, earlier this week, Nasscom announced a similar partnership with entertainment firm Zee Entertainment Enterprises Ltd. for the Generative AI Foundry programme. Through this strategic partnership, ZEE’s Technology and Innovation Centre will enable and support co-piloted generative AI solutions for India’s media and entertainment ecosystem.