MATH Honors AI Innovators at the InnovAtIon Gala Awards 2024, Launches Marketplace, and Prepares for Global AI Summit

Hyderabad: MATH (Machine Learning and Artificial Intelligence Technology Hub), a pioneering collaboration between the Department of Science and Technology (DST) and T-Hub, hosted The InnovAtIon Gala Awards 2024 to celebrate advancements in AI and ML. The event highlighted the best in AI innovation, featuring over 100 Global Capability Centers (GCCs) and recognizing 16 startup innovators across 10 categories. Importantly, MATH launched its flagship Marketplace exclusively for AI startups.

The InnovAtIon Gala Awards served as a vibrant platform, bringing together leaders and innovators in the AI and ML sectors. The event was honoured by the presence of Duddilla Sridhar Babu, Hon’ble Minister for Information Technology, Electronics & Communication, Industry & Commerce, and Legislative Affairs, Government of Telangana, India, who attended as the Chief Guest. His participation highlighted the significance of this gathering in India’s AI landscape. Notable attendees included I Sai Krishna, IT Advisor to Hon’ble Minister of IT, Electronics, Communications, and Industries & Commerce at Government of Telangana, Rahul Paith, CEO of MATH; Sameer Dhanrajani, CEO of 3AI; Rama Devi Lanka, Director of Emerging Technologies, Government of Telangana; and Srinivas Rao Mahankali (MSR), CEO of T-Hub.

Launch of the MATH Marketplace

A key highlight of the evening was the launch of the MATH Marketplace, an innovative platform that offers comprehensive access to over 1,000 AI-based startups within the MATH ecosystem. The Marketplace allows users to explore startups across 10+ broad categories and 20+ subcategories, ranging from AI-based marketing and computing to hiring solutions. With its user-friendly interface, the platform provides detailed information about each startup, including their products or services, founder details, and more. This unique search and discovery platform enhances visibility and fosters connections between customers and startups, promoting transparency and trust in AI innovation.

Recognising top Innovators

The Gala honored 16 standout startups across 10 distinct categories, including 'AI Innovation of the Year,' 'Best Deep-tech Startup,' 'Youngest AI Entrepreneur Award,' and 'Women AI Entrepreneur Award.' These awards recognize the trailblazers in AI and ML, celebrating their achievements in driving technological advancements across various sectors. Winning startups are set to pitch their innovations to leading venture capitalists and investors at the upcoming Global AI Innovation Summit 2024, with select startups receiving free incubation at MATH to accelerate their growth.

A Prelude to the Global AI Innovation Summit 2024

The InnovAtIon Gala Awards also set the stage for the Global AI Innovation Summit 2024, to be held later this year by the Government of Telangana. This summit will be a key platform for the AI community to showcase innovations, discuss emerging trends, and forge strategic partnerships.

Duddilla Sridhar Babu, Hon’ble Minister for Information Technology, Electronics & Communication, Industry & Commerce and Legislative Affairs, Government of Telangana, India said, "Tonight’s Innovation Gala Awards 2024 highlights our relentless drive toward technological excellence. Hyderabad has firmly established itself as a global technology hub, thanks to the presence of over 200 Global Capability Centres (GCCs) and Technology Capability Centres (TCCs). Our goal to double this footprint within the next two years reflects our commitment to solidifying our role as a leading global technology centre. These institutions, along with our Centres of Excellence (CoEs) and hyper-scalers, are essential in driving innovation and shaping the future of AI. This Gala not only celebrates the exceptional achievements of today but also positions Telangana and Hyderabad as key players in the global technology landscape. Together, we continue to push the boundaries of what is possible."

Rahul Paith, CEO of MATH, emphasised the importance of these initiatives: "India's AI sector is on a remarkable trajectory, with a projected CAGR of 31.5% and an anticipated market size of $5.1 billion by 2027. By bringing together innovators at The InnovAtIon Gala Awards, we not only celebrate their achievements but also reinforce the collaborative spirit that will drive India to the forefront of AI excellence. By fostering a robust ecosystem, enhancing visibility for startups, and attracting key investments, MATH is playing a pivotal role in India’s journey to becoming a global leader in artificial intelligence."

MATH continues to drive AI innovation with several upcoming initiatives leading up to the Global AI Innovation Summit 2024. These include MATHack 2.0 on September 4-5, 2024, a major hackathon featuring over 50 problem statements and the Pitch Games startup competition, culminating in a pitch session to top GCCs, venture capitalists, and independent fund houses.