Microsoft and Ahmedabad-based iCreate have exchanged Memorandums of Understanding (MoUs) to initiate a program aimed at supporting AI startups in India. Taking to X, Union Minister for Electronics and Technology Rajeev Chandrasekhar stated that the agreement exchange today will advance the vision put forth by Prime Minister Narendra Modi during his meeting with Microsoft chairman Satya Nadella last year.
"We believe partnerships are the way to accelerate the growth of our innovation ecosystem. This partnership will not only be durable but also shape the future of what India and Microsoft aim to achieve with INDIAai. INDIAai is the national portal on Artificial Intelligence - a central hub for everything AI in India and beyond. PM Modi's government is committed to forging impactful partnerships in AI and emerging technologies, catalyzing startups not only in big cities but also in smaller towns", the minister wrote on X.
Subsequently, in discussions with reporters, the minister remarked that the upcoming surge of startups will focus on domains such as artificial intelligence, semiconductors, electronics, microelectronics, high-performance computing, and the evolution of the Internet known as Web 3.0. "Modi ji's government has really become one of the shining stars and one of the most compelling innovation economies around the world. As you know, over a lakh startups have been created, and over 112 unicorns have been created", he added.
"And it is our prime minister's vision that these startups should come from tier 1, tier 2, tier 3 cities, smaller towns as well. And it is very good to see partnerships like Microsoft and iCreate, which are aimed at creating entrepreneurship and startups in new areas like AI and out of places that are smaller towns and that are not Bangalore, Hyderabad, but Gandhinagar, Ahmedabad, and Surat", the minister said. Established in 2012, iCreate receives backing from both the Gujarat state government and the Indian government to promote entrepreneurship in the next generation.