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Sector agnostic accelerator Turbostart today said it has rolled out its Innovation Challenge aimed at founders of early-stage AI startups and idea-driven entrepreneurs.
Turbostart said it will process applications and shortlist ten startups to present their pitches. The top three selected startups will be considered for an investment of up to Rs 1 crore, with startups representing design-development-delivery, efficiency & productivity, and marketing & communications as key themes.
The application for the challenge opens today, August 14th, 2023 and will remain open until August 23rd, 2023. Turbostart said it will proceed with a multilevel selection process on September 1st in Bengaluru, consisting of a grand jury panel.
In addition to this, Turbostart will host 'Sparkplug', a startup forum replete with panel discussions and speeches by industry stalwarts.
Ganesh Raju, Founder & CEO of Turbostart, said, "AI, especially Generative AI, has become a game-changer in the business realm. Turbostart, over the years, has championed the cause of innovative thinkers, helping them turn their ideas into thriving businesses. This challenge is yet another step in our journey to unearth and support promising AI-driven ventures."
Since its inception in 2019, Turbostart has been a beacon for early-stage startups worldwide. With its cohort format, the company claims to have backed around 30 startups in the last four years, including AI bigwigs like Sivi.ai and Argoid.
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