UPGRAD will make AI incubator from Rs 100 crore – upgrade will make ai incubator for Rs 100 Crore
Education-technology company upgrade has decided to create an AI incubator for Rs 100 crore for the purpose of promoting innovation in studies and skill development. The top official of the company gave this information. ‘AI incubator’ is a innovation program dedicated to Artificial Intelligence (AI), through which an AI process or product can be accessed in a limited time.
Upgrade founder and Chief Affairs Officer Ronnie Screwwala said that the skills and education field outside the school and colleges is developing rapidly and needs to find innovative ways for this section.
Screwvala said, ‘We are investing 100 crores for this purpose. It will be used to get a short-term stake in five-six startup units with an early stage with incubation. At the same time, Screwvala said that the upgrade does not want to get entangled in the game of evaluation of firms as it becomes very cumbersome for startups. However, the upgrade would like to ensure that these companies innovate economically.
Upgrade had earlier announced in Davos to create an AI Excellence Center with an investment of Rs 2,150 crore in collaboration with the Government of Maharashtra. Apart from this, the company has also partnered with Microsoft to train 1 million Indian professionals in AI in a year. Screwwala said that the company would form a group of active startup companies in the AI sector whose final goal is to learn and promote skill sector.
He said that ‘upgrade AI incubator’ would support companies that are associated with cost-skilled growth, encouragement of material construction, enabled many children to give online tuition together through AI-operated systems.
First Published – February 26, 2025 | 10:18 PM IST
(Business Standard Staff has changed the headline and photo of this report, the rest of the news has been published without any change from a common news source.)
