The National Association of Software and Services Companies (Nasscom) has tied up with Telangana Artificial Intelligence Mission (T-AIM) to launch an Innovation Factory to identify and promote innovative artificial intelligence solutions to address challenges in agricultural sector.
They have announced an ‘innovation challenge’ for start-ups, inviting ideas that can make the lives of farmers easier by helping them increase incomes.
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The winner will get a chance to win a prize money of ₹1 lakh, while the runner-up will get ₹50,000.
The Nasscom challenge will focus on precision farming to improve yields; real-time price discovery and volume management; e-marketplaces for agri produce; and agricultural lending instruments based on farm output-backed credit risk assessment.
“Innovators will also be able to showcase their AI solution development capabilities on a larger scale and avail an opportunity to implement a pilot in Telangana,” a Nasscom spokesperson said.
The participants will get mentorship from various Telangana government entities and ecosystem partners.
The contest is open for start-ups, companies and institutions operating in the country. Each team will be given six weeks to work on the use case. The last date to register for the challenge is January 24. Results will be out on March 30.