According to an official release, L&T Technology Services Limited (LTTS), a global digital engineering and R&D services company, has announced its collaboration with Nasscom GenAI Foundry initiative. This collaboration is expected to contribute to the growth of Generative AI in India by providing support to startups operating in this field.
“As we progress further into the digital age, Nasscom plans to foster and nurture the AI startup ecosystem in India. We believe these startups can innovate and transform the AI industry, not just domestically, but on an international scale as well,” Ankit Bose, head of AI, Nasscom, explained.
According to Nasscom, Gen AI startups in the country have raised over $475 million in funding from 2021 through May 2023. Among the 26 startups chosen, LTTS will engage with many of the startups through a continuous process of engagement.
Furthermore, “LTTS aims to accelerate the growth of startups in the generative AI sector, assisting them to pivot, scale, and make a substantial impact both locally and globally,” Abhishek Sinha, chief operating officer, board member, L&T Technology Services, concluded.
