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SR Innovation Exchange (SRiX), Warangal in partnership with Tech Mahindra announced XELERATE, a 3-month acceleration program. The program intends to support startups working on niche technologies like Internet of things, Artificial Intelligence and Machine Learning.
Applications are invited from revenue stage startups in Agri-tech and Health-tech from across the country.
“Enterprise adoption of Artificial Intelligence is on the rise, and we continue to expand our industry-aligned Artificial Intelligence solutions through our TechMNxT charter, where we co-innovate with the larger ecosystem of partners, academia, and customers.
We are excited to fast track the business adoption of bright start-ups with our expert mentoring on technology through the Xelerate program,” said George Mundassery, Global Head - Automation and AI, Tech Mahindra.
“Our country is bustling with startup activity. The contribution of Startups to the economy and job creation cannot be negated. There is an urgent need for strategic interventions to support startups.
We need to build a holistic Innovation Ecosystem wherein Academia, Corporate, Government departments, Incubators, and startups work together. Xelerate is a step in that direction.” said Ms.Sreedevi Devireddy, CEO SR Innovation Exchange.
“Incubators like SRiX help the entrepreneurs go from the Idea stage to a prototype or a Minimum Viable Product (MVP). However, investors today demand to see some traction before they invest.
The need of the hour for startups struggling to convert their "project" into a successful "business" is to quickly research, evaluate and finalize a business model that gets them initial traction in terms of customers but also gives the investor confidence to invest in it.
Post the acceleration program, entrepreneurs will be able to put the startup on the
way to a successful investment round by using proven business models, go-to-market and scale-up strategies. Said Anil Chikkara, chief facilitator, Xelerate.