-India ranks third in the world in terms of research publications related to AI.
-The Government has initiated a number of startup schemes related to emerging technologies.
-AI is set to have a significant transformational impact in the industry as well as academia.
How indian government´s AI-centric schemes are boosting the startup ecosystem
The Indian Government has been playing a pivotal role in boosting AI development in India through a number of schemes. According to sources, India ranks third in the world in terms of high-quality research publications related to AI. Indian government think tank NITI Aayog has been working to apply the potential of AI in public as well as private sector.
The Government has initiated a number of startup schemes related to emerging technologies to boost the growth of startups, promote entrepreneurship and create high-skilled jobs. Startups are the growth engine of our country and reports indicate there are presently close to 700 AI startups in India.
In this article, we list down 9 startup schemes introduced by Indian Government to boost the growth of AI development, entrepreneurship and skill development.
1. NewGen Innovation and Entrepreneurship Development Centre (NewGen IEDC)
NewGen Innovation and Entrepreneurship Development Centre (NewGen IEDC) seeks to promote knowledge-based and technology-driven start-ups by harnessing young minds and their innovation potential in an academic environment. This scheme will be applicable in domains such as AI, computer vision, IoT, FinTech, nanotechnology and much more. The time period for this scheme is not disclosed.
2. Assistance to Professional Bodies & Seminars/Symposia
Assistance to Professional Bodies & Seminars/Symposia provides support in organising events for the scientific community which will help in enhancing the latest developments in their specific areas such as AI, AR/VR, computer vision, IoT, green energy, non-renewable energy, and many others. The time period for this scheme is not disclosed.
3. Atal Incubation Centres (AIC)
Atal Incubation Centres (AIC) are headed by Atal Innovation Mission and was launched to nurture startups in India so that they can become scalable and sustainable business enterprise. This scheme is applicable to domains like AR/VR, IoT, AI, computer vision, nanotechnology and much more. The time period for this scheme is not disclosed.
5. Multiplier Grants Scheme (MGS)4. Scheme to Support IPR Awareness Seminars/Workshops in E&IT Sector
The Scheme to Support IPR Awareness Seminars/Workshops in E&IT Sector aims to support IPR awareness workshops/seminars for sensitising and disseminating awareness about Intellectual Property Rights among various stakeholders, specially in E&IT sector. The industries that are applicable for this scheme are IT services, analytics, enterprise software, technology hardware, Internet of Things and AI. The scheme is valid up to November 2019.
Launched in 2013, Multiplier Grants Scheme (MGS) aims to encourage collaborative R&D between industry and academics/ R&D institutions for the development of products and packages. It is applicable to a number of domains such as enterprise software, AI, IoT, analytics, and other such. The scheme is extended up to March 31, 2020. The time period for this scheme is not disclosed.
6. Support for International Patent Protection in Electronics & Information Technology (SIP-EIT)
The Ministry of Electronics and Information Technology launched this scheme to encourage innovation and recognize the value and capabilities of global IP along with capturing growth opportunities in ICTE sector. This scheme will be applicable to various IT services including the Internet of Things (IoT), artificial intelligence, etc. and will be valid up to November 2019.
7. Technology Development Programme (TDP)
Technology Development Programme (TDP) scheme aims to promote technology development in fields such as AI, IoT, nanotechnology, AR/VR, computer vision, fintech and many more. This scheme supports activities aimed at developing and integrating technologies to evolve materials/processes/techniques both in the advanced/emerging areas and in traditional sectors/areas. The time period for this scheme is not disclosed.
8. National Science & Technology Management Information System (NSTMIS)
The NSTMIS scheme aims to provide the task of building the information base on a continuous basis on resources devoted to scientific and technological activities for policy planning in the country. The scheme is applicable to various domains such as automotive, AI, AR/VR, IoT, nanotechnology and computer vision. The time period for this scheme is not disclosed.
9. High Risk-High Reward Research
High Risk-High Reward Research scheme supports exceptionally creative scientists pursuing highly innovative research with the potential for a broad impact in biomedical, behavioural, or social sciences within the NIH mission. This scheme is applicable in several domains such as AI, IoT, computer vision, automotive, FinTech. The time-period for funding of the scheme varies.
AI is set to have a significant transformational impact in the industry as well as academia. The Indian Government is playing a key role in sustaining the intervention in order to tackle the challenges that AI-specific startups face in order to grow in their verticals. During the 2018-2019 budget, the Government fo India has mandated NITI Aayog to establish the National Program on AI. According to the National Strategy for Artificial Intelligence, the underlying thrust is to identify the specific applications of emerging technologies with maximum social impact.