As the startup wave continues to sweep the world, those working in the field of AI are now gaining unprecedented traction. Globally, investors backed more AI companies in the first quarter of 2016 than in any other quarter. AI is forecast to generate $47 billion in annual revenues and replace 5 million jobs globally by 2020.
This is should not come as a surprise, given that the whole world is only talking about how AI, and the catchphrases of the hour seem to be machine learning, NLP, and neural networks, and how all these will completely change the world over the next few decades. And considering how companies across the globe have been investing vast resources into this space over the years, Indian firms have had to play catch-up, and have risen to the challenge admirably.
Global tech giants such as Apple, Facebook, Google, Intel, Microsoft, and IBM have expressed interest in Indian startups, and nearly half-a-dozen India-based AI startups have been acquired by global companies in the last 18 months. Driven by evolving technology and a flourishing domestic market, Indian entrepreneurs are increasingly exploring new opportunities in AI and machine learning across a variety of applications and use cases. In India, more than 200 AI-focused global companies have collectively raised more than $1.5 billion so far in the past year.
To help AI startups make the most of this wave, Kalaari Capital’s seed fund Kstart is launching the #FutureOfAI Challenge for startups working on next-gen AI ideas. Kstart is calling all next generation startups that are reshaping India’s startup future and fostering a unique and progressive ecosystem of entrepreneurship. The #FutureOfAI Challenge aims to enable the founders of these startups to take the ideas of their game-changing businesses forward. After an initial round of selection, startups will be contacted for more details on their startup ideas.
Of these, 8 startups will be selected to present in front of the Kstart investment committee, which will comprise senior partners of Kalaari - Kstart and a few other AI industry experts. The top 8 startups selected as the finalists will get an opportunity to present to the Kstart Investment Committee to raise funding.
If you are a startup working in the field of AI, then you are eligible to be one of the 8 finalists. All you have to do is fill out the challenge form to take advantage of a once-in-a-lifetime funding opportunity. For any further queries or concerns, applicants can write to firstname.lastname@example.org, and someone from the Kstart core team in personally respond.
Registrations are open till February 15, 2017. The finalists will have the opportunity to present to the Kstart investment committee in late March 2017. If you’re ready to take the challenge, fill out this form to apply for #FutureOfAI Challenge.