Turbostart announces innovation challenge for startups transforming the enterprise landscape through AI

Global startup accelerator Turbostart is inviting applications for the Turbostart Innovation Challenge and plans to invest up to Rs 1 crore each in the top three startups.

Turbostart announces innovation challenge for startups transforming the enterprise landscape through AI

Tuesday August 22, 2023,

3 min Read

The AI-focused TurboStart Innovation Challenge is now open to founders of early-stage startups across three dynamic themes that can aid in transforming enterprise through AI.

Launched to commemorate Turbostart’s fourth anniversary and showcase its continued commitment to fostering innovation in AI, the challenge will invite 10 startups to pitch, after carefully assessing all applications. Three of these startups are guaranteed an investment of up to Rs 1 crore. Each chosen startup will represent each of the following three key themes:  

● Design-development-delivery: Elevate user experiences and success through dynamic UI/UX and code generation

● Efficiency and productivity: Tap into AI's potential for market research, personal assistants, legal docs, HR, and finance

● Marketing and communications: Revolutionise content strategies by fusing AI with art and design

The application window for startups to participate in the Turbostart Innovation Challenge will remain open till August 25, 2023, allowing participants to showcase their revolutionary AI concepts. Turbostart will begin a multilevel selection process, comprising a grand jury panel, on September 1 in Bengaluru. Three startups can secure investments of up to Rs 1 crore each, after qualifying for the Global Investment Committee round, scheduled after the announcement of the top three winners. 

To foster innovation and networking opportunities, a startup forum featuring expert panel discussions and keynote speeches by industry leaders and entrepreneurs, will also be hosted the same day. The winners of the Turbostart Innovation Challenge will be announced during the forum.

Speaking about the importance of the challenge and its impact on AI innovation, Ganesh Raju, Founder and CEO, Turbostart, said, “AI and, more recently, generative AI have emerged as significant catalysts in the business world and our teams have unlocked strong value in our own workflows and processes. We’re excited to discover promising AI-driven concepts and entrepreneurs, furthering our commitment to driving technological innovation in the enterprise ecosystem and have a larger impact across enterprise.”

Launched in 2019, Turbostart is a global fund and accelerator tailored to scout and handpick outstanding early-stage tech-driven start-ups. The innovative competition format, held in regular cycles, enables the curation of a top-tier selection of ventures from across the globe.

Over the last four years, it has invested in approximately 30 startups, including deeptech AI startups such as Sivi.ai, Argoid, Sciative, and more. Unlike conventional funds or accelerators that offer short-term engagement and one-size-fits-all mentorship, Turbostart prides itself on delivering consistent and tailor-made long-term support and guidance.  

The fund identifies innovative startups led by winning teams across global hotspots, sectors, and stages. Its team comprises a global ecosystem, seasoned investors and advisors, business leaders, and strategy consultants keen to help startups derive value beyond investment. 

Turbostart's value proposition has always been the hands-on role it plays when it comes to supporting startups. Standing true to this, Turbostart has established six 6 Centers of Excellence (CoEs) focused on key areas wherein startups require significant support, not only in terms of strategy but also execution.