HYDERABAD: Five early stage startups were selected for Rs 10 lakh each of seed fund and a 6-month accelerator program (Avishkar) by the Indian Institute of Information Technology, Hyderabad’s (IIIT-H) incubator, announced IIIT-H Foundation.Apart from the grant and mentorship, the startups will also get access to the research labs and receive various customer development and mentoring support from IIITH Foundation's partners and ecosystem associates. The program has an investment partnership with 50K Ventures and business coaching from CoCreation Consulting.Prof. Vasudeva Varma, dean, research and development (R&D), IIIT-Hyderabad and chief executive officer (CEO) of IIITH Foundation, said, “The startup ecosystem in India is currently very vibrant. However, most of these ventures cannot survive and are successful unless they have huge differentiation in terms of technology. It was started in June 2016 to accelerate growth of startups in machine learning, computer vision, robotics, articificial intelligence (AI), VR space.

Source: Economic Times January 30, 2017 15:00 UTC