Ltts partners with Nasscom for generative AI startup support

L&T Technology Services Limited (LTTS) has partnered with Nasscom's Generative AI Foundry initiative. The collaboration aims to provide support to startups operating in the Generative AI sector in India.

Nasscom reports an increase in funding for Gen AI startups in the country, reaching over $475 million from 2021 through May 2023, indicating growth and potential within the sector. LTTS intends to contribute to this growth by offering resources and expertise to a select group of startups. Out of the 26 chosen startups, LTTS will engage in continuous mentoring, providing assistance in product development, and offering roadmaps. The startups will also benefit from Proof of Concepts aligning with LTTS's technology and innovation trajectory. Additionally, LTTS plans to host bootcamps and knowledge-sharing workshops to enhance the domain expertise of these startups.

LTTS portfolio includes innovative solutions like AiKno and Chest-rAi. AiKno is an AI-driven platform expediting the deployment of AI models, facilitating seamless incorporation of AI into operations. Chest-rAi, designed for radiologists, employs deep learning algorithms to analyse chest X-rays and detect abnormalities, aiding in quicker and more precise diagnoses.

Ankit Bose, Head of AI at Nasscom, emphasised their focus to boost the AI startup ecosystem in India. 

"We have faith in these startups' capacity to innovate and transform the AI industry, not just domestically, but on an international scale as well," he said.

Abhishek Sinha, COO and Board Member at L&T Technology Services, expressed eagerness to strengthen engagement with the entrepreneurial ecosystem in India. 

"LTTS aims to accelerate the growth of startups in the generative AI sector, assisting them in pivoting, scaling, and making an impact locally and globally," he said.

(With PTI Inputs)