new Delhi AI and Robotics Technology Park (ARTPARK), an Indian government-funded non-profit organization, on Monday opened an ‘Innovation Lab’ at the Indian Institute of Science (IISc), Bengaluru, to provide support to researchers and startups doing work. With the aim of helping artificial intelligence (AI) and robotics create products ready to go to market.
The lab will focus on three areas- digital and physical connectivity using 5G and drones, providing health services at people’s doorsteps and using AI for inclusive education.
“In the age of AI, knowledge will be everywhere. Students no longer have to cram information and can focus on applying it to make things happen. Similarly, healthcare should be available everywhere, not just in hospitals,” said Umakant Soni, chief executive officer of ARTpark.
Sony said startups are currently struggling to take technology from laboratories to market, which is a significant gap for the industry.
“Primarily, we are trying to build successful companies out of India that will solve problems, create jobs and eventually export to the world,” said Subhashis Banerjee, Chief Information Officer, ARTPARK.
The laboratory has technical teams working in collaboration with several laboratories at IISc. It will also work with other technical institutions and bodies including Indian Institute of Technology (IIT) Kanpur, IIT Jodhpur, Aalto University in Finland, Indian Council of Medical Research and All India Institute of Medical Sciences.
“Our Indian academics have produced talent that now leads many leading tech companies. The next phase of growth requires that we encourage such talent to stay in India and convert their research into products and companies. Only then will we reach a $10 trillion economy from $3 trillion, then we will support them with $100 million venture funding over a period of 10-12 years,” Soni said. The fund will be supported by the government, private companies and VCs.
Though the fund was announced last year, it is still pending for approval from the Securities and Exchange Board of India (SEBI). “We are waiting for the final approval from SEBI. It is expected that it will be formally launched by the end of this month. We have already started shortlisting companies working on connectivity, healthcare and education.” Established in 2020 by IISc, ARTPARK has received 170 crore funding from the Department of Science and Technology of the Central Government and 60 crores from the Government of Karnataka. One of the first products developed in laboratories is the autonomous drone ambulance, a scale model for which was unveiled at the first ARTPARK Innovation Summit on Monday.
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