Infibeam Avenues Collaborates with EDII to Boost AI Adoption

Indian fintech firm Infibeam Avenues has unveiled its second significant venture in the AI sector through a partnership with the Entrepreneurship Development Institute of India (EDII), Ahmedabad. Singhania & Co. advised Infibeam Avenues Ltd on this strategic partnership, represented by Kunal Sharma, Partner. By signing a Memorandum of Understanding with the institute, the company aims to bolster AI adoption and growth among enterprises, startups, and MSMEs across India.

Founded in 1983, the Entrepreneurship Development Institute of India (EDII) operates as an autonomous, non-profit organization acknowledged as a premier National Resource Institute for fostering Entrepreneurship Education, Research, Training, and Startup initiatives. Supported by leading financial entities such as IDBI Bank Ltd., IFCI Ltd., ICICI Bank Ltd., the State Bank of India (SBI), and the Government of Gujarat, the institute is dedicated to promoting the growth of MSMEs, nurturing innovation, and facilitating institutional development.

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Infibeam Avenues Ltd, under the MoU, has implemented its advanced video AI Developer Platform, known as THEIA, at the EDII campus in Gandhinagar. This platform equips students and entrepreneurs with essential tools for developing AI-driven products, thereby enhancing operational efficiency and capabilities.

Additionally, Infibeam has introduced its latest AI innovation, the ‘AI Facility Manager’, at the same campus. Initially, this product will integrate diverse datasets and visual inputs from CCTV systems to facilitate real-time monitoring of authorized and unauthorized access points. As it progresses, the ‘AI Facility Manager’ will encompass broader functionalities such as security management, resource allocation, space utilization monitoring, workforce compliance, energy optimization, concierge services, cost control, and risk mitigation across the campus facilities.

Dr. Sunil Shukla, Director General of EDII, underscored the importance of integrating advanced AI technologies such as the THEIA Platform and AI Facility Manager. These advancements will provide students, startups, and MSMEs with essential tools for thriving in a digital-first era. The collaboration aims to enrich the educational experience at EDII and enable entrepreneurs to harness AI for sustainable business growth.

“This collaboration not only enriches the educational experience at EDII but also empowers entrepreneurs to leverage AI for sustainable business growth and excellence. EDII and Infibeam Avenues Ltd are paving the way for a future where AI and digital solutions play a crucial role in entrepreneurial success,” stated Shukla.

The initial focus of the collaboration will be on three primary initiatives: the ‘Start-up Accelerator Programme’, the ‘AI Implementation Programme’, and the ‘MSME Support Programme’. These initiatives are designed to support the development of technology startups, facilitate the creation of AI prototypes for startups and MSMEs, and encourage the adoption of AI within MSMEs.

Vishal Mehta, Chairman and Managing Director of Infibeam Avenues Ltd, believes that embracing digitalization and AI is crucial for the future of entrepreneurship. The collaboration aims to prepare entrepreneurs for the future by integrating AI and technological solutions into their business operations.

In partnership with the Entrepreneurship Development Institute of India (EDII), Infibeam Avenues is pioneering AI adoption in India through advanced platforms like THEIA and the ‘AI Facility Manager’. This collaboration aims to equip students, startups, and MSMEs with essential AI tools for sustainable growth and operational efficiency. Dr. Sunil Shukla highlighted the significance of integrating AI technologies at the EDII campus to foster entrepreneurship in a digital-first era. The joint efforts of EDII and Infibeam Avenues are paving the way for a future where AI and digital solutions drive entrepreneurial success and excellence.