The Wadhwani School of Data Science and AI (WSAI) at IIT Madras is launching an AI Studio to turn research in artificial intelligence, machine learning and data science into new companies.
The venture studio will work with researchers, academic founders and external entrepreneurs to take AI ideas from the research stage to viable businesses. It will focus on areas including health AI, education AI, responsible AI and Indic language AI.
The inaugural cohort will receive seed funding, cloud and compute credits, access to WSAI research laboratories and data resources, mentoring from faculty and domain experts, and support for finding product-market fit.
The programme will also provide an Entrepreneur-in-Residence and a structured pathway for ventures to move towards further funding and formal spin-outs into the IIT Madras Incubation Cell ecosystem.
IIT MADRAS AI STUDIO: WHO CAN APPLY?
The AI Studio will be open to IIT Madras and WSAI researchers, academic founders from other institutions, as well as external entrepreneurs working on an AI, machine learning or data science idea or venture.
Applicants will go through a two-stage process. The first stage will be an initial training programme and bootcamp open to a larger pool of applicants. A smaller group of selected ventures will then enter the full studio programme.
Applications for the inaugural cohort will open on October 3.
Selected ventures will undergo a six-month venture development and evaluation programme. This can be extended by up to three months for ventures that are progressing towards an institutional funding round.
The studio plans to run two cohorts every year, with applications opening during the winter and spring cycles.
‘MOVE AI FROM THE LAB TO THE REAL WORLD’
Prof Balaraman Ravindran, Head, Wadhwani School of Data Science and AI, IIT Madras, said the initiative would take the institute’s AI research beyond academic publications and towards real-world applications.
“At the Wadhwani School of Data Science and AI, our mission has always been to move AI from the lab to the real world,” he said.
He added that the venture studio would focus on building companies around research while leveraging the IIT Madras ecosystem to support their growth.
Roopa Karemungikar, CEO, AI Studio, WSAI, IIT Madras, said the programme would focus on building companies based on research and solving problems for real markets.
“We are at a rare moment where AI, world-class research, and India’s ambition are converging,” she said.
Prof Satya Seshadri, Head, School of Innovation and Entrepreneurship, IIT Madras, said the AI Venture Studio would mark the institute’s move into active venture building.
According to him, selected teams will receive expert mentoring, technology and other resources, along with customer access to help develop their ventures.
The initiative is being led by the Department of Data Science and AI in collaboration with the School of Innovation and Entrepreneurship at IIT Madras.
The AI Studio builds on IIT Madras’ existing deep-tech incubation ecosystem, which the institute says has supported the incubation of hundreds of deep-tech startups.
According to IIT Madras, these startups have a combined valuation of about $8 billion and have created more than 11,000 direct jobs.
The new studio will provide a structured route for AI and data science research to move from an early-stage idea through venture development, funding and, eventually, a formal spin-out.
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