Startup 2.0: Get set for a new phase of bottom-of-the-pyramid business

livemint.com:

₹10,000 crore towards the AI mission highlights the importance of leveraging cutting-edge technologies to drive inclusive growth. By providing support for AI research, the government is paving the way for startups to harness the power of AI to tackle complex challenges across sectors. The initiative to open India’s mutual fund industry to small-ticket investments marks a significant milestone in financial inclusion and saving.

By enabling individuals from diverse socioeconomic backgrounds to participate in wealth creation, the initiative has the potential to unlock a wave of entrepreneurial capital to empower startups. The focus on fostering an ecosystem of semiconductor research holds immense promise for startups operating in critical deep-tech areas. By investing in semiconductor research and development, India can position itself as a global leader in cutting-edge technologies, providing startups with a competitive edge to build products that serve the interests of our rural communities.

This would also help serve the needs of the Global South. Moreover, the majority of AI models around the world are trained to cater to the needs of the top of the income pyramid, and in English. Indian startups have a special advantage with access to diverse linguistic data-sets to train AI models, which can make AI offerings accessible and relevant to bottom-of-the-pyramid customers.