Medtech domain holds tremendous potential: CIE at IIIT-Hyderabad Survey on AI Startups

Centre for Innovation and Entrepreneurship (CIE at IIITH) along with the T-incubators Accelerator group surveyed to build a database of AI startups in Hyderabad. The data will enable an ecosystem where prospective investors, government agencies, startups, and incubators can have access to information on AI startups in the city. The findings of the report help in understanding the domains that use AI. Various academic institutions like the IIITs, IITs are working closely with these startups to bridge the gap between emerging problems and their research using AI.

The report profiles AI startups in Hyderabad based upon a survey of various incubators, accelerators, and startup programs. Startups that are either based out of or are a part of a medium-term program in the city have been considered and have been analyzed to present a view of the AI innovation ecosystem in the city. Most of the startups in this section have received pre-seed funding. Thus, building an ecosystem around AI startups will help startups gain better traction for sustainable growth. Commenting on the survey, Prof Ramesh Loganathan, Chief Operating Officer, CIE at IIITH, said, "The visibility and understanding of the early-stage startups are always very elusive. I am happy to see this profile of AI startups in the city. We should do more".

The findings of the survey show:

The Medtech domain holds tremendous potential. Hyderabad is home to several life sciences research institutions like CCMB, IKP, UOH, etc. Further, Text analytics has seen a boom in recent years as the documentation online needs to have proper validation. Moreover, Graduates from top universities have played a pivotal role in encouraging their peers to pursue entrepreneurship. Not only that but Defense and Aerospace manufacturing is another upcoming strong domain in Hyderabad.

The survey also stated that the advent of incessant lockdowns led to a heightened viewership in OTT platforms; thus, subsequently optimized recommendation systems and related technologies have increased immensely. The city is becoming a major defense/aerospace research and manufacturing center. A lot of AI startups are also focusing on the Agriculture domain helping the yields to flourish and grow. Focus on manufacturing has also been increasing steadily and Edtech has seen a sudden surge due to online educational platforms.