Michelin, in partnership with Department of Promotion of Industry and Trade (DPIIT) and Startup India, has announced the inaugural AI Startup Challenge with a primary objective to boost innovation within the Indian AI startup ecosystem.
The AI Startup Challenge is scheduled to take place from July to September 2024. It is a three-month program aimed at discovering, mentoring and promoting cutting-edge AI startups. Selected startups will have the opportunity to work with Michelin, a leading player in the tire and mobility industry. At the same time, the startups will also get mentorship and a chance to win paid pilot projects worth up to INR 50 lakh per project. Additionally, they may also get incubation support from Michelin’s management team and a long-term global contract.
The competition has been structured in a methodical way, culminating in the Grand Final in September, where top startups will present their innovative solutions to a panel of renowned judges. A tiered approach will ensure that only the most promising and innovative startups make it to the final round.
DPIIT has been at the forefront of jump-starting startups, especially in the manufacturing sector. By providing early stage support, it helps startups bridge the gap with the industry. This initiative is part of a broader strategy, which aims to set up incubators and industry-led incubation programmes. The ultimate goal is to empower manufacturing startups with innovative technologies and sustainable practices.
“The AI Startup Challenge is a natural extension of Michelin’s broader innovation programme in India. Michelin has a long-standing focus on fostering collaboration with local startups, and through this competition we will drive innovation while strengthening our ties with India’s vibrant startup ecosystem.”
