Hyderabad, India, February 18 2020: India’s first Centre of Excellence for Gaming, VFX, Computer Vision and AI --IMAGE -- set up by the Software Technology Parks of India (STPI) has opened in Hyderabad. This is also the first Incubation centre for companies focussed on IP in Gaming, VFX, Artificial Intelligence, Computer Vision set up by Software Technology Park of India.
STPI-IMAGE also signed MoU with 5 partners TVAGA (Telangana VFX, Animation and Gaming Association), Hyderabad Angels, HYSEA, IIIT- Hyderabad, and TiE Hyderabad to nurture and promote start-ups and budding entrepreneurs by offering resources like mentoring, technology support, infrastructure like Plug & Play Incubation, Mocap, CVAI labs and funding.
The 10000 Sq ft, IMAGE-CoE, inside the existing STPI facility targets to incubate up to 25-30 start-ups per year for the next five years. A total investment of 19. 68 Cr shall be spent over a period of 5 years for the CoE in addition to existing infrastructure in the STPI facility.
The start-ups will be mentored by a group of accomplished industry and academic pioneers, led by the Chief Mentor and aided by a strong Governing Council (GC) & Project Management Group (PMG) consisting of top technology industrialists, investors and academicians.
Applications to get on board in the CoE (image.stpi.in) is open and closes on March 31st, 2020. The start-ups will undergo various levels of evaluation before selection. On selection, they will be assisted with a seed fund of Rs. 5 lakhs after due diligence by the PMG. This fund will be released to start-ups during the structured accelerated program, at regular intervals, based on achieving set milestones.
In the first year, 20 start-ups will be chosen for on boarding this program. Each start-up will be given access to best-in-class infrastructure and R & D lab facilities, for development and validation of solution from design to prototyping to democratize innovation, including the newly set up first of its kind Motion Capture Lab. They will also be provided access to funding, mentorship, and marketing.
Says Jayesh Ranjan, Principal Secretary of the Industries & Commerce (I&C) and Information Technology (IT): “Hyderabad is fast emerging as the best global destination for Gaming and AI landscape. That’s one key reason we believe STPI chose to set up its CoE in Hyderabad, and as partners, we are fully committed to this initiative. '' “We have a strong eco-system, as the city of Hyderabad hosts established world-leading-gaming companies, global scale events such as IndiaJoy, The India Game Developers Conference (IGDC) plus India’s biggest IMAGE towers readying to open in Hyderabad.”