IIMA Ventures has joined forces with Google for Startups to launch the first cohort of AI Academy India 2024. The initiative aims to equip early-stage AI startups with resources, mentorship, and technology to address challenges across sectors such as healthcare, climate, agriculture, education, and financial inclusion. The inaugural cohort, supported by the MeitY Startup Hub, features 22 startups that will receive practical training, expert guidance, access to AI technologies, and up to $350,000 in cloud credits.
India’s AI market is projected to reach $7.8 billion by 2025, with a potential contribution of $500 billion to GDP. “We are proud to partner with Google for Startups to host the AI Academy India Bootcamp in Ahmedabad,” said a partner at Seed Investing, IIMA Ventures. “This initiative aligns with our mission to foster innovation and entrepreneurship, providing startups with invaluable resources to strengthen Gujarat’s startup ecosystem.”
The selected startups are addressing varied challenges, such as AI-powered ERP systems in education, electric vehicle marketplaces for climate action, loan simplification tools in fintech, and collaborative AI platforms in healthcare.
Magikkraft provides AI-powered inspection and monitoring for energy sustainability, while Credin is developing an inclusive lending platform, and Vayu, an interoperable mobility app, enables seamless travel and ticketing.
ai startups to address challenges
Following its successful launch in Gujarat, the AI Academy India 2024 program will expand to six other cities, including Delhi, Bengaluru, Chennai, and Hyderabad.
The program will collaborate with partners such as Kerala Startup Mission, T-Hub, IIT Madras Incubation Cell, and Nasscom AI. The program focuses on human-centered, responsible AI through workshops on Generative AI, app development, and product design, coupled with strategies for market scalability, AI-powered marketing, and fundraising. Since 2002, IIMA Ventures has mentored over 7,000 founders and accelerated 1,700 startups, continuing to lead initiatives aimed at growing India’s AI ecosystem.
According to Nasscom’s latest Generative AI Tracker, India has secured its position as the sixth-largest global player in the Generative AI startup ecosystem, with notable advancements in innovation, funding, and talent. The country’s GenAI sector saw a significant boost in the second quarter of the fiscal year 2025, with key startups like Nurix AI, Dashtoon, and Mihup leading with innovative solutions in workflow management, digital comic creation, and conversational analytics. The second quarter of 2025 also witnessed a sixfold surge in investments, driven by B2B platforms and productivity tools, with 20 funding rounds marking a strong recovery from the first quarter’s slowdown.
Nasscom’s report highlighted that the funding rebound was led by applications and services, resulting in a total funding growth of 3.4 times year-on-year, with early-stage investments making up 77 percent of the total.
