Stellaris Venture Partners and IFC have announced the launch of a new programme AI4Biz to support early-stage AI-focussed enterprise SaaS startups. It is an initiative in collaboration with Infosys, Cisco, Amazon Web Services (AWS), GitHub, and Freshworks to identify and support promising Indian AI-enabled SaaS startups.
AI4Biz will create a cohort of up to 10 startups, which will be selected by a reputed jury after a two-stage shortlisting process. The selected startups will have the opportunity to engage commercially with relevant companies from within IFC’s global portfolio of investments.
Selected startups will also be able to explore synergies with Cisco and Infosys, in addition to substantial credits from AWS and Freshworks, free access to GitHub’s enterprise version and mentorship sessions with relevant experts.
Finally, the most promising startups will be considered for investments by Stellaris, IFC and potentially by other collaborating organisations.
They will also have the opportunity to engage commercially with IFC’s global portfolio of investments, and to explore go-to-market opportunities with Infosys and Cisco. In addition, these startups will get access to substantial credits from AWS and Freshworks, free access to GitHub’s enterprise version and mentorship sessions from relevant experts.
Focussed on early-stage ventures, the team will look closely at how the companies are using AI and if it is a self-learning system or not. The software of the product should evolve and grow.