New Delhi, Aug 6 (IANS) IT industry’s leading body Nasscom on Wednesday said it has selected 37 innovative Generative AI startups for the third cohort of the GenAI Foundry programme.

The latest cohort brings together pioneering startups from across five transformative domains, including HR and Talent-Intelligence Copilots, Finance and FinOps Copilots, Enterprise Workflow and Knowledge Copilots, Defence and Physical Autonomy, and AI Security and TrustTech.

According to the firm, over the last two cohorts, the GenAI Foundry participants have collectively raised $15 million, with startups positioned to secure $2 million each on average in subsequent rounds.

Launched in October 2023, the Nasscom GenAI Foundry programme has become a cornerstone initiative, nurturing the growth of India’s generative AI startup ecosystem.

By fostering strategic collaborations with a broad spectrum of partners, including 60 leading enterprises and investors, the programme enables startups to develop world-class solutions tailored to global market demands.

The inaugural cohort’s startups witnessed nearly 100 per cent business growth in just one year, with headcount rising by 50 per cent. Cumulatively, the cohort startups have filed over 40 patents, with many more in the pipeline, highlighting India’s burgeoning IP generation.

“The future of AI isn’t just generative — it’s agentic. For decades, we followed the world’s playbook. Today, we’re writing it,” said Ankit Bose, Head of AI, Nasscom.

“The third cohort of the GenAI Foundry reflects this shift: India is no longer building mere copilots — we’re building autonomous systems that decide, act, and scale across real-world complexity,” he added.

The programme has delivered over 530 investor and enterprise touchpoints, catalysing real-world PoCs and funding opportunities.

Startups have benefited from $25 million in soft investor commitments, unprecedented access to GPU/cloud credits, and deep knowledge and mentoring engagements from industry leaders, Nasscom stated.

India is now home to the world’s second-largest GenAI startup ecosystem, and on track to reach close to 1,000 GenAI startups, the Nasscom GenAI Foundry programme continues to set new benchmarks for AI innovation, market access, and entrepreneurial excellence.

–IANS

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