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Indian AI Researchers Can Only Dream of Building Billion-Dollar Startups
- Indian researchers struggle to thrive as startup founders at home, highlighting the sad state of AI startups in India.
- Investors preferring quick returns over long-term deep-tech investments contribute to the problem.
- India has little investment in R&D compared to other developed nations, and the IT industry still operates on a service model, limiting the production of foundational AI.
- Professor Ganesh Ramakrishnan of IIT Bombay and co-founder of bbsAI is developing small language models and native language technology to promote inclusivity and innovation.
- In contrast, regions like Silicon Valley have abundant capital and supportive culture, enabling networks of investors and incubators for startups.
- However, there are cases where founders have returned to big tech after launching their own startups because of a lack of investment and support from India's industry and government.
- Tech giants like Google, Microsoft, Amazon, and Facebook all began as research ideas, and leading tech companies either acquire or fund research firms to close the gap in their AI advancements.
- Startups that have originated in research labs or were founded by former researchers like DeepMind, Anthropic, Cohere, Hugging Face, Stability AI, and Mistral AI have gained significant funding and introduced new AI technologies.
- Investors are attracted to founders due to their strong technical footing, making it easier to secure venture capital, and AI researchers are uniquely positioned to build million, or even billion-dollar startups.
- AI market is projected to reach $780–$990 billion by 2027, growing at an annual rate of 40-55%, according to reports.
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