India has been warming up to the idea of using new technologies to develop products that can cater to a global audience. These technologies include blockchain, artificial intelligence, machine learning, etc.
To keep up with the times, Tech Mahindra has announced its latest tie-up with SR Innovation Exchange, Warangal to launch its own acceleration program. This was set to help nurture companies to their fullest potential.
The partnership between Tech Mahindra and SRiX has resulted in the launch of XELERATE, a 3-month acceleration program to create an ecosystem for faster incubation. The program intends to support startups working on niche technologies and want more resources and mentorship.
Geroge Mundassery, the Global Head of Automation and AI at Tech Mahindra had said:
“Enterprise adoption of Artificial Intelligence is on the rise, and we continue to expand our industry-aligned Artificial Intelligence solutions through our TechMNxT charter, where we co-innovate with the larger ecosystem of partners, academia and customers. We are excited to fast track the business adoption of bright start-ups with our expert mentoring on technology through the Xelerate program.”
Officials close to the developments have stated that new technologies were the need of the hour and that more people need to dabble in it. Sreedevi Devireddy, the chief executive of SR Innovation Exchange has placed her bets on products that help improve the digital economy.
According to her, upcoming technologies need to involve sectors such as academia, corporate, incubators and startups. This was intended to create a fledging economy where resources could be shared across various industries. Others close to the project believe that the incubator will help struggling startups to better themselves and become a full-fledged company. According to the model of the accelerator, entrepreneurs will be able to use proven business models to scale up their businesses.
Proponents of new space have revealed that they are excited about a prospect where Indian companies can utilize state of the art technology to further their growth. Tech Mahindra plays a big part in this because of the company’s vision for an upgraded future.
Tech Mahindra was also in the news recently when it partnered with the state of Telangana to launch a blockchain accelerator. Both the parties involved have stated that they want to make Telangana the “blockchain capital of the world”. With the launch of the new T-Block accelerator, blockchain startups in India are expected to have a helping hand soon.
