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International Institute of Information Technology (IIIT), Hyderabad is creating a seed fund network for investment in startups within and outside its incubator. A network of professional in technology and entrepreneurs will invest in startups— involved in machine learning, computer vision, robotics, AR/VR, natural language processing and other artificial intelligence domains — which are in their early stages.
The size of the fund has not been disclosed but the institute has said that it will organise regular investment pitch days to scout out interesting startups in the early stages.
“The venture capitalists who are senior industry leaders with extensive domain knowledge and peer networks will assist in creating a structure to support the start-ups and further enhance IIIT-H’s startup ecosystem,” a press release by the institute said.
Centre for Innovation and Entrepreneurship of IIIT-H will run accelerator programmes as the primary source of the startups and would take up domain specific startups and seeding initiatives.
Five leading investors, including Vikrant Varshney, Ajay Jain, Viiveck Verma, V V S N Raju and Anurag Garg, will help structure and govern the seed fund for these startups.