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Living in an era where change has become constant, India is on the cusp of a technological revolution, particularly in the field of new-age technology. In fact, among various developments, the rise of AI has changed the world at a rapid pace, and India is no exception. As India continues to adopt AI technology, it is on track to become a global leader in innovation and technology.
According to the joint report by BCG and Nasscom, India’s AI market is growing at a CAGR of over 25–35% and is expected to reach $17 billion by 2027. This rise is being driven by various factors, which include a rising pool of qualified people, increased investment in R&D, and government initiatives such as Digital India.
While the subjective debate of whether AI will eat human jobs or not is still very debatable, it seems that AI has already taken over the tech and startup landscape not just across the world but in our country as well, especially in Hyderabad.
Hyderabad, also known as “HITECH City,” has emerged as a prominent hub of AI innovation and development. With the presence of around 700 IT companies as of 2023, Hyderabad is poised to become a leading centre for AI technology in the country. Furthermore, Hyderabad’s reputation as a technology hub is supported by its vast pool of skilled professionals. This talent pool is providing fertile ground for AI startups to thrive. Moreover, the adoption of AI has not only become a breeding ground for IT firms but also for various industries such as healthcare, finance, and manufacturing. Thus, this rapid growth in AI technology in Hyderabad is positioning the city as a key player in the global AI landscape.
Key AI Startups in Hyderabad
Several AI startups in Hyderabad have made significant strides in recent years. Some notable examples include:
OpenXcell
OpenXcell, founded in 2009, is at the vanguard of AI-driven innovation, providing cutting-edge software development services to move organisations into the future. With a global team of over 500 people, the firm has successfully delivered over 1000 revolutionary solutions, emphasising AI strategy, bespoke LLMs, online and mobile app development, data engineering, and blockchain technologies. Furthermore, the brand specialises in developing personalised AI and software solutions that improve efficiency, optimise operations, and increase customer engagement across sectors.
TechVedika
TechVedika Inc. specialises in artificial intelligence and cloud services, providing cutting-edge technical solutions to enterprise clients globally. They have assisted organisations in building advanced solutions and provide advice services across multiple industry sectors. Their goal is to give simple and refined technology solutions by leveraging cutting-edge and future technological breakthroughs in technologies, platforms, and architectures, backed up by a track record of successful Agile and DevOps implementations.
Kenyt.AI
Kenyt.AI is a conversational consumer engagement platform that allows businesses to effectively interact with their customers, giving them a realistic and engaging experience. Kenyt Chatbots and Voicebots can support a wide range of languages and are extremely effective at engaging customers because of their sophisticated AI engine, which achieves an accuracy rate of 95%, above the industry standard. The system includes several repeatable workflows, such as item selection on an e-commerce platform, payment processing, appointment scheduling, and so on. Additionally, it creates a long-term communication route for marketing objectives through messaging applications.
Skyroot Aerospace Private Limited
Skyroot Aerospace Private Limited is an Indian firm that builds aircraft equipment and offers commercial launch services. Its headquarters are in Hyderabad, Telangana. The company was founded by former ISRO engineers and scientists. The goal is to develop and deploy a unique set of small-scale launch vehicles built exclusively for the tiny satellite sector. Skyroot, founded in 2018 in Kondapur with a crew of ten people, is committed to expanding access to space by pushing the boundaries of present technology. Skyroot Aerospace, India’s first privately owned rocket launch company, was incubated at T-Hub and backed by T-Works.
Ahex Technologies
Founded in 2009, Ahex Technologies is an ISO 9001:2015-certified software development organisation. It is a prominent provider of solutions for data visualisation, analytics, ERPs, IoT, and blockchain. The business focuses on offshore outsourcing by providing innovative and high-quality services to our clients while also creating value for them. They are currently serving over 80 clients, ranging from huge corporations to individual entrepreneurs.
Government Initiatives for Thriving Startup Ecosystem
Considering the growth structure, the Telangana government is playing a significant role in fostering the AI ecosystem and establishing itself as the AI capital of India. This bold ambition is more than just a race against time; it represents a significant opportunity for Hyderabad to lead in disruptive technologies like AI, data analytics, and cybersecurity.
The government has fostered the expansion of the technology through various initiatives, such as the T-Hub, AI Portal, India-US AI Initiative and Applied AI Research Centre in Telangana, among others. For instance, T-Hub is one of the biggest startup incubators and provides support and resources for new startups. Government policies offer funding, streamlined regulations, and other incentives, making Hyderabad a popular choice for AI startups to take root.
Furthermore, in order to achieve the bold ambition of becoming the AI capital of India, the state is planning to introduce AI in schools by rolling out an AI curriculum to students between the ages of 15 and 18. According to the ‘AI-Powered Telangana’ strategy document, which was released on the first day of the two-day Global AI Summit in Hyderabad on September 5, this curriculum will focus on core AI knowledge, preparation for future AI employment, and an understanding of safe AI.
AI Ambition: Hyderabad Leap Towards Future
Undeniably, Hyderabad has almost everything that a startup needs to be successful. The city provides good infrastructure, skilled manpower, cheap resources, and plenty of foreign investment. However, the city’s growth is sometimes held back by a traditional mindset among investors and aspiring entrepreneurs, who often favour established industries like real estate, pharma, and IT. Many prefer to invest in or build businesses around these proven sectors rather than exploring new, innovative ideas. Despite this, a noticeable shift is occurring, with Hyderabad increasingly creating fresh and creative concepts.