Michelin has teamed up with the Department for Promotion of Industry and Internal Trade (DPIIT) as well as with Startup India to unveil the first of its kind AI Startup Challenge. The primary aim is to foster innovation within the AI startup ecosystem in India.
The AI Startup Challenge is set to run from July to September 2024. It is a three-month program that is designed to identify, mentor and promote cutting-edge AI startups. The selected startups will get an opportunity to collaborate with Michelin, which is one of the leading names in the tire and mobility industry. The startups will simultaneously receive mentorship and a chance to secure paid pilot projects worth up to INR 5 lakh per project. Moreover, long-term global contracts could be on the card and incubation support from Michelin’s leadership.
The structure of the competition is methodically planned. It will culminate in a grand finale in September. Top startups will showcase their innovative solutions to a distinguished panel of judges. The stage-by-stage approach ensures that only the most promising and innovative startups reach the final round.
DPIIT has been at the forefront of mobilizing startups and especially in the manufacturing sector. Providing early-stage support will help the startups to bridge the gap with the industry. The initiative is part of a broader strategy and it is to establish incubators as well as industry-led incubation programs. The final goal is to empower manufacturing startups with innovative technologies and sustainable practices.
AI Startup Challenge is a natural extension of Michelin’s broader innovation program in India. It has long been committed to foster collaboration with local startups. It will be promoting innovation and simultaneously strengthening ties with the vibrant Indian startup ecosystem with the competition.
