upGrad Launches AI Incubator with INR 100 Crore Investment to Boost Indian AI Startups

upGrad Allocates INR 100 Crore for an AI Incubator to Support Indian AI Startups

upGrad is setting aside 100 crore rupees to help Indian AI entrepreneurs. Edtech startup upGrad recently announced that it is setting aside ₹100 crore to create an AI incubator, which aims to boost innovation in the learning and skilling space, as reported by PTI. There will be a mix of AI startups to be incubated. The founder and CEO of upGrad, Ronnie Screwvala, told PTI that outside the school and college curriculum, the learning and skilling space is evolving rapidly, and innovative ways are needed to be explored to help everyone skill up. Screwvala said, "We are putting Rs 100 crore. It will be used for incubation as well as acquiring minority stake in 5-6 startups at an early stage so that we do not dictate them. We don't want to get into the valuation game as it becomes too onerous for a startup, but we want them to innovate in a more frugal manner." He further added, "We are sitting at the epicenter, where not only do we want it to disrupt but we want to also be the disruptor, because I think in the skilling and learning space, we will have to be the disruptor." In addition, he believes we need to focus on ways education systems will evolve in the coming 30-40 years and said that it is going to change dramatically in the next five years. upGrad has been embracing AI for a while, like translating learning materials into Indian languages. With investments to get minority stakes in early-stage startups, we may see some interesting entrepreneurs coming up from this incubator program. Last year, the Indian Army collaborated with BEL to launch an AI incubation centre in Bengaluru. upGrad joins the list of new incubator programs for AI entrepreneurs in India.

upGrad Launches AI Incubator With INR 100 Cr Allocation

It will provide resources including infrastructure and seed capital Edtech major upGrad has launched an incubator, 'upGrad AI Incubator', to back homegrown AI startups. With an initial allocation of INR 100 Cr, the Mumbai-based company plans to invest in 5-6 startups over the next few months, it said in a statement. With this incubator, upGrad aims to drive product innovation in startups by providing them resources including infrastructure and seed capital, the statement added. Under this initiative, upGrad has made its first investment in a Bengaluru-based startup ZuAI. However, it did not disclose the financial terms of the deal. This development comes days after upGrad signed an agreement with the Maharashtra government to set up AI excellence centres across the state with an initial investment of INR 2,150 Cr ($248.82 Mn). Earlier this month, the edtech company roped in Dentsu's former chief operating officer Neeraj Gera as the India head for enterprise delivery. Additionally, it also appointed former Amazon executive Neha Prasad Mullick as the vice president for enterprise sales in North America. Founded by Ronnie Screwvala, Mayank Kumar and Phalgun Kompalli in 2015, upGrad offers online and hybrid skilling programmes, certifications, and bootcamps. It also facilitates diploma, master's and executive doctorate programmes from top Indian and global universities, along with corporate skilling and recruitment services. The company operates in several global markets including the UK, US, Middle East, India, Singapore and Vietnam. Last year, Kumar stepped down from his position as a cofounder to float a new edtech venture, BorderPlus. Around the same time upGrad raised $60 Mn from Singapore state investment firm Temasek. India's AI space is booming and witnessing rapid adoption. For instance, earlier this week, finance minister Nirmala Sitharaman said that India is moving beyond merely leading the adoption of AI and is shaping how the technology is governed. Not just this, Indian states are also actively participating in being the dominant hub for AI. Maharashtra's chief minister Devendra Fadnavis said that the state is working on a new AI policy as it wants to lead the ongoing AI revolution in the country. Last week, the union government received more than 60 proposals from homegrown AI startups such as Sarvam AI, CoRover.ai and Ola's Krutrim for building an indigenously-designed and developed artificial intelligence (AI) foundational model.

upGrad Launches AI-Incubator to Accelerate Build-in-India Capability; Earmarks INR 100 cr to support Homegrown AI Startups

upGrad, one of Asia's largest integrated skilling and forever learning majors is doubling down on its AI commitment and has launched 'upGrad AI Incubator' to scale homegrown AI startups. The company has set aside a sum of INR 100 cr in its initial phase to drive product innovation by providing emerging startups with the right resources - infrastructure and minimum seed capital. This support is designed to help them develop plug-and-play AI technologies - largely around learning, skilling and workforce development, that can seamlessly integrate across various industries, enhancing scalability and efficiency. In the coming months, the incubator plans to take minority stakes in 5-6 AI startups, allowing upGrad to monitor potential breakthroughs by young entrepreneurs without assuming full ownership. Leveraging AI to deliver personalised and scalable educational resources, upGrad AI Incubator will build stronger adaptive learning paths, one-to-many tutoring models, and smarter assessments to reduce test fatigue while emphasizing real-world applicability. "Having AI capabilities is not a calendared program anymore, it's a fundamental/ bare minimum skill. India is sitting at an epicenter where not only do we want to disrupt but also be the disruptor and so this 'upGrad AI Incubator' is that opportunity - a strong incubating combinator that will turbocharge our people resources and aspirations to the next phase of growth we want to see. As AI is in its early stages, we are committed to building robust infrastructure that supports and trains millions across all economic levels - through upskilling and nurturing ideas and talent. This move is a major augmenter for strengthening the workforce development capabilities and creating jobs of tomorrow while sending strong growth signals as a self-reliant, technologically empowered nation," said Ronnie Screwvala, Co-founder and Chairperson, upGrad. The move comes soon after upGrad's recent industry and Government partnerships to equip over a million learners with hands-on AI capabilities and establish AI Centers of Excellence across the State, aiming to drive economic progress at scale. ZuAI, a Bengaluru-based startup offering a 24/7 AI-powered personal tutor for students, is the first investment under this initiative for an undisclosed sum. About upGrad: Started in 2015, upGrad is one of Asia's largest integrated Learning, Skilling, and Workforce Development majors offering a range of online & hybrid skilling programs, Certifications, and Bootcamps under its B2C portfolio. It also facilitates top Indian and global universities to offer their Diploma, Master's and Executive Doctorates. Additionally, select programs are tailored for Enterprise clients under the corporate skilling division, along with other recruitment and staffing services.