The government has earmarked over Rs 2,000 crore for funding and supporting AI-related startups, and the scheme will be rolled in the next fiscal, beginning April 1, a senior government official said on Tuesday.
While speaking on the sidelines of Startup Mahakumbh, Meity Startup Hub CEO Jitendra Vijay said the government is providing a larger funding programme for the priority sector through various plans like a design-linked incentive scheme for semiconductor design, among others.
“(The) Cabinet has approved India AI Mission where more than Rs 10,000 crore is being allocated in supporting AI ecosystem in India. More than Rs 2,000 crore is allocated for funding and supporting AI-related startups. We are looking more at figuring out mechanisms for the deployment of these programmes and schemes on both sides. This should be operationalised within the coming (fiscal) year,” Vijay told PTI.
The Cabinet approved the India AI Mission in the first week of March with an outlay of Rs 10,372
While speaking on the sidelines of Startup Mahakumbh, Meity Startup Hub CEO Jitendra Vijay said the government is providing a larger funding programme for the priority sector through various plans like a design-linked incentive scheme for semiconductor design, among others.
“(The) Cabinet has approved India AI Mission where more than Rs 10,000 crore is being allocated in supporting AI ecosystem in India. More than Rs 2,000 crore is allocated for funding and supporting AI-related startups. We are looking more at figuring out mechanisms for the deployment of these programmes and schemes on both sides. This should be operationalised within the coming (fiscal) year,” Vijay told PTI.
The Cabinet approved the India AI Mission in the first week of March with an outlay of Rs 10,372
