Indian fintech company Infibeam Avenues has announced its second major initiative in the AI space in collaboration with the Entrepreneurship Development Institute of India (EDII), Ahmedabad.
The company signed a MoU with the institute with an aim to accelerate the adoption and growth of AI among Indian enterprises, startups and SMEs.
What does EDII do?
Founded in 1983, Entrepreneurship Development Institute of India (EDII) is an independent, not-for-profit institution recognized as the national resource institute for entrepreneurial education, research, training and start-ups.
The institute is backed by leading financial institutions such as IDBI Bank Ltd., IFCI Ltd., ICICI Bank Ltd., State Bank of India (SBI) and the Gujarat government and focuses on MSME growth, incubation, innovation and institution building.
Infibeam introduces AI development platform “THEIA”
As part of the MoU, Infibeam Avenues Ltd has deployed its advanced video AI development platform, THEIA, at its EDII campus in Gandhinagar. The THEIA platform provides students and entrepreneurs with the tools they need to develop AI products, enhancing the efficiency and capabilities of their businesses.
Additionally, Infibeam has deployed its recently launched AI facility management product, ‘AI Facility Manager’, at the EDII campus.
In its initial phase, the product will collate various datasets along with footage data from campus CCTV to facilitate monitoring of authorised and unauthorised entry and exit.
Over time, it will expand to also include security management, resource management, occupancy or space monitoring, employee compliance, energy management, concierge services, cost management, and risk management on the institute campus.
Leveraging AI for sustainable growth
Dr. Sunil Shukla, Director General, EDII, emphasised that integrating advanced AI technologies such as the THEIA platform and AI Facility Manager will equip students, startups and SMEs with the tools they need to succeed in a digital-first world. This partnership will enhance the learning experience at EDII and enable entrepreneurs to leverage AI for sustainable growth.
“This partnership will not only enhance the learning experience at EDII but also enable entrepreneurs to leverage AI for sustainable growth and business excellence. EDII and Infibeam Avenues Ltd are paving the way for a future where AI and digital solutions are integral to entrepreneurial success,” Shukla said.
Focus on key programs
The collaboration will initially focus on three key programs: Startup Accelerator Program, AI Implementation Program, and MSME Support Program.
These programs aim to incubate technology startups, create AI prototypes for startups and SMEs, and accelerate AI adoption in SMEs.
The future of entrepreneurs lies in digitisation and the adoption of AI, according to Vishal Mehta, Chairman and Managing Director, Infibeam Avenues Ltd. This collaboration will enable entrepreneurs to integrate AI and technology solutions into their business operations and become future-ready.
