Nasscom, Meta launch Genai Open Source Challenge for Indian Startups and Developers

(MENAFN- IANS) Bengaluru, July 25 (IANS) Leading IT industry body Nasscom on Thursday partnered with Meta (formerly Facebook) to launch the Open-Source Generative AI Grand Challenge, which aims to provide startups and the developer community with an opportunity to build GenAI solutions.

The Centre for Development of Advanced Computing (C-DAC), under the Ministry of Electronics and Information Technology (MeitY), will be the technology partner and provide computing infrastructure support.

As part of the challenge, Nasscom and Meta are inviting generative AI startups and developers to create impactful solutions in areas such as education, enterprise, and e-government. The winners in each category will receive a cash prize of up to Rs 4 lakh, while the runners-up in each category will receive up to Rs 1 lakh.

“By empowering developers with open source tools, we can create significant socioeconomic impact. We look forward to seeing creative solutions that solve real-world problems and contribute to the broader AI ecosystem,” said Ankit Bose, Head of Nasscom AI.

GenAI transforms digital landscapes by driving efficiency, innovation, and growth, while open-source AI tools democratize technology by enabling developers to build advanced solutions with minimal resources, driving AI awareness and adoption.

“Open innovation can help further develop India’s AI capabilities while promoting security and innovation to unlock economic growth,” said Shivnath Thukral, Vice President and Head of Public Policy (India) at Meta.

Through this initiative, participants will be required to present a proof of concept explaining their technology stack and ultimately present a working demo of their solution. Investment in Indian GenAI startups doubled in the first six months of 2024 compared to the second half of 2023.

MENAFN25072024000231011071ID1108482351