The debate started with OpenAI CEO Sam Altman statement in a Q&A that India's AI Startup Potential "Totally Hopeless'. NASSCOM has come with this report to give current status on India startups in this space.
Indian generative AI startup ecosystem has expanded rapidly since 2021, more than doubling in count, with over $475 Mn funding in the last 2 years. Majority of these Indian startups offer generative AI-native solutions, built in-house. However, a majority of them lack adequate funding. Unlocking the full potential of generative AI for India, and from India for the world, will not only require rigorous assessment of sustainable whitespace opportunities in various sectors, but will also require innovative thinking towardsinviting patient capital and facilitating compute capabilities at scale.
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