Infineon and Invest India successfully concluded an AI Challenge to build an Intelligent Document Finder tool
Bangalore, Karnataka, India – Business Wire India
Infineon Technologies, a world leader in semiconductors, deepens engagement with the startup community including startups from Germany and Singapore in the field of Artificial Intelligence (AI) with its latest AI Challenge program, organized in collaboration with Startup India and AGNIi- housed under Invest India. Invest India is the National Investment Promotion and Facilitation Agency of India and acts as the single first point of reference for investors in the country. The challenge sought a working solution for the Intelligent Document Finder tool with exceptional novel approach.
As a partner, Infineon is helping startups worldwide to turn their ideas into reality, offering semiconductor solutions and network building with decision makers to accelerate their ideas into business. Innovations across a range of applications are not limited to pure semiconductors but also encompass software and system designs that optimize performance and process efficiency. Some of the technologies under development include radar-based blood pressure sensors and low latency & always-on voice applications requiring high sensitivity to varied noise and audio inputs.
Vinay Shenoy, Managing Director, Infineon Technologies, India said, “Artificial intelligence has already found its way into many areas of our daily lives, which in turn impacts the way we work- on the one hand influencing our future product portfolio, and on the other hand elevating our way of working to a new level. AI is a valuable ally for achieving digital transformation as it helps faster analysis of complex digital data and generates valuable insights. This challenge has been a great platform as it leverages a wide array of experts and talent in this field to validate our hypothesis from multiple perspectives. We are proud to have Invest India as our partner for this program.”
Deepak Bagla, MD & CEO of Invest India, said, “Entrepreneurship is one of the underlying pillars of India’s growth story. It continues to create new jobs besides introducing new services, products, processes, and business models. The growth of the ecosystem is facilitated by initiatives like Startup India and AGNIi. These initiatives help in connecting the industry leaders with startups across the country to develop solutions for real-life problems. We are delighted to have partnered with Infineon for their AI Challenge- which has provided many promising entrepreneurs to showcase their capabilities”
Rohit Girdhar, VP Strategy M&A, Infineon Technologies Asia Pacific, elaborated, “We have been impressed by the quality of entries received for the inaugural edition of Infineon’s AI challenge. This is a testament to the rich pool of technology talent that India possesses. All three winning teams were able to demonstrate their innovative approach towards the problem statement and the readiness of their respective product for deployment. The winning solution will now be piloted by us and if successful, deployed across Infineon offices globally. We hope to continue working with the dynamic team at Invest India on similar challenges in the future.”
With the aim to offer an engaging solution to connect the digital with the real and provide Indian start-ups a platform to showcase their talent in the AI domain, Infineon launched the AI Challenge in December 2019. The challenge sought an Intelligent Document Finder tool that can provide easy and intelligent searches among the document files. The main idea behind this problem statement was to combine human tagging with an automated semantic search for efficient document finding.
The initiative was started in collaboration with Startup India and AGNIi and several preliminary rounds later, Infineon selected ten finalists from over 250 start-up applications. Young entrepreneurs from across the country submitted their solutions to a jury whose members included AI experts from Infineon.
Kalyankar Analytics Pvt Ltd won the challenge while Resonova Technologies Pvt Ltd secured the first runner-up spot. The second runner-up and a special category awarding Best All Women''s Team included student groups from across the country. The winning teams were awarded gadgets worth INR 3 lakh, along with a paid pilot of INR 5 lakh and an opportunity to intern with Infineon Technologies India.
Infineon has been actively engaging with the startup and entrepreneur ecosystem in India since 2017. Over the past few years, the company has partnered with the Atal Innovation Mission (AIM) at Niti Aayog and various incubators across India including Electropreneur Park, NSRCEL and AIC-Sangam to foster and nurture promising start-ups and drive tomorrow‘s solutions addressing some key societal concerns like climate change. Most recently, Infineon has been actively funding technology-based healthcare solutions developed by premier institutes to enable India to fight the COVID-19 pandemic.
About Infineon Technologies
Infineon Technologies AG is a world leader in semiconductor solutions that make life easier, safer and greener. Microelectronics from Infineon is the key to a better future. In the 2019 fiscal year (ending 30 September), the Company reported sales of €8.0 billion with around 41,400 employees worldwide. Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the over-the-counter market OTCQX International Premier (ticker symbol: IFNNY).
Further information is available at www.infineon.com
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About Invest India
Invest India, is the National Investment Promotion and Facilitation Agency of India and act as the first point of reference for investors in India. Invest India focuses on sector-specific investor targeting and development of new partnerships to enable sustainable investments in India. Invest India also partners with substantial investment promotion agencies and multilateral organizations. Invest India also actively works with several Indian states to build capacity as well as bring in global best practices in investment targeting, promotion and facilitation areas. Invest India, set up in 2009, is a non-profit venture under the Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, Government of India.
Startup India, housed under Invest India, is a flagship initiative of the Government of India, intends to build a strong ecosystem for nurturing innovation and entrepreneurship and to drive sustainable economic growth by generating large scale employment opportunities. Through this initiative, the Government aims to empower startups to grow through innovation, design and entrepreneurship.
Accelerating Growth of New India’s Innovation (AGNIi) is a flagship initiative under the office of the Principal Scientific Adviser to the Government of India. It is one of the nine missions launched under the Prime Minister’s Science, Technology and Innovation Advisory Council (PM-STIAC) and is housed at Invest India. AGNIi focuses on supporting innovation commercialization, helping government, enterprise and non-profit sectors benefit from emerging technology innovations from Indian start-ups and the public R&D ecosystem.