AI & Machine Learning Technologies Dominate at Entrepreneur First Demo Day
Entrepreneur First (EF), a leading UK-based global talent investor with a presence in India since 2019, announced its second Online Demo Day of the year, and its third cohort of startups since inception. EF has supported over 200 founders, helped create and invested in 20 startups in just over 18 months.
As industries embrace a new normal the investor has adopted a remote first approach to its programme, today’s event will be fully virtual. EF has seen a 100% increase in applications received since it first launched, with over 1500 applications in the most recent cohort. Today’s Demo Day has unveiled 12 exceptional founders and their 6 deep tech startups showcasing new age, cutting-edge technologies such as Artificial Intelligence and Machine Learning across different industries. There are over 180 investor confirmations from the Investor Day, and over 50 investor meetings are already booked in with the startups.
“The scale of this year’s global crisis is unprecedented. However, this hasn’t stopped Entrepreneur First’s third cohort of ambitious and talented founders to start globally relevant companies here in India. We believe every crisis offers opportunities for innovation and we are confident that these companies will gain unprecedented investor interest as the new normal encourages the new wave of entrepreneurs to think beyond physical borders. ”said Matt Clifford, Co-founder and CEO, Entrepreneur First.
The startups showcased solutions ranging from AI-powered technology platforms for industries like fintech and retail to Machine Learning enabled solutions in the video streaming industry. One common element that binds them together is the implementation of new age technologies.
Matt further added that, “We encourage budding entrepreneurs and groups of like-minded potential co-founders by providing mentorship, financial support and pre-seed funding to help them form companies. Entrepreneur First dares ambitious people to dream big. We provide the right support to talented individuals who find their cofounders here to unleash their potential.”
Following are the startups that were showcased:
MedPay: MedPay is an AI-powered technology platform that creates a large connected network of Clinics, Pharmacies and Diagnostic centers for the first time ever, thus enabling real-time insurance claim processing
Retail Pulse: Retail Pulse is an AI powered Computer Vision solution that enables Consumer Goods companies to harness the immense data across unorganized retail stores to gain operational transparency, optimize product visibility and re-capture 8% of lost revenue
LitmusEye: LitmusEye is using 3D Vision and Deep Learning to build a package dimensioning system for stakeholders in Express Logistics, to help them bill, plan & utilize assets efficiently
Vadoo: Vadoo uses peer-assisted streaming, powered by ML, to help video streaming platforms significantly reduce bandwidth cost and improve latency
Marlin AI: Marlin is building an AI enabled platform to optimize the land-side movements of containers for shipping lines, helping enhance their utilization and revenue streams
BrainEntech: BrainEntech is disrupting the online education industry by using Deep Learning on brain activity of learners to enhance content creation and consumption
Speaking about the third cohort, Esha Tiwary, General Manager, India at Entrepreneur First said, “The founders from this third cohort have faced incredible headwinds and adversity. But we continue to be impressed by their resilience and resolve to build globally important companies. At EF we encourage outliers to choose their own path and found companies for the future. EF believes that connecting such talented, resilient tech founders with the investor community will create tremendous value for the Indian startup ecosystem.”
Esha further added that, “Since we launched, we have seen a very high quality of founders and startups at EF India – we are convinced that world class innovative technology-led startups can be created from our region. Our applications are growing significantly with each new cohort every 6 months. We are also very closely working with other ecosystem players and investors to create a robust structure for supporting early stage tech entrepreneurs in India.”
EF had recently collaborated with Foundation for Innovation and Research in Science and Technology (F.I.R.S.T.), a section 8 company promoted by Indian Institute of Technology Kanpur (“IITK”) to build a strong support ecosystem for aspiring tech entrepreneurs. This partnership facilitates the journey for exceptional and talented individuals who aspire to start tech ventures. EF will support with the process of finding a co-founder at the very early stage of a startup, as well as provide close mentorship on the idea and business model, and pre-seed investment. The startups formed will have an opportunity to access IITK business incubator as the next step to build a network of expert advisors, access to prototyping facilities and grants. The partnership will also help expose smart technical graduates and researchers from IITK and affiliated institutions to the potential impact they can create through entrepreneurship.
EF appointed Venkat Raju as Venture Partner recently in India. He has more than three decades of experience in strong business, technology and general management. Venkat will work closely with the Entrepreneur First startups in India across areas such as technology, business model and go to market strategies. His expertise will help the Entrepreneur First start-up ecosystem build on its foundation in India.