The British government has launched a $5.2 million fund to root out cutting-edge social- and cleantech startups in India. The “Innovation Challenge Fund” will aid collaboration across AI, Big Data and other sectors, as part of the India-UK Technology Partnership, which first opened in April 2018.
The fund, which comprises two clusters—one for AI/Big Data in Karnataka, and another for future mobility in Maharashtra—is seeking technology leap firms in clean verticals like storage, mobility and recycling.
“The UK technology sector is a huge success story and its products have an incredible power to improve people’s lives,” said British deputy high commissioner to India Jan Thompson.
“I am delighted to announce the launch of this important fund which shows the UK and India working together as a force for good to address the key challenges facing India today,” added Thompson. “The UK and India are leaders in the development and use of digital tech, and there is a huge amount we can learn from each other and big opportunities to join forces.”