- UPES Runway, the startup incubator at UPES, hosted the New Delhi leg of The Pitch 3.0, an initiative designed to identify and support AI-native and AI-driven startups across North, Central and Southern India.
- The first leg brought seven shortlisted startups before investors, mentors, and UPES leaders, following more than 20 applications from founders working at the forefront of technology-led innovation.
- Saudi Arabia's AI-native startups are outperforming global and regional peers in strategic execution and commercial growth, according to a report released by Amazon Web Services.
- According to the AWS report, 72 percent of Saudi AI-native startups have a formal AI strategy in place, exceeding the global AI-native average of 68 percent.
- The Pitch 3.0 aligns with UPES’ broader AI vision and its commitment to enabling founders using emerging technologies to solve real-world problems.
- The shortlisted ventures represented a wide range of sectors, including AI image recognition, fintech, edtech, and quantum computing, reflecting the breadth of AI-led innovation emerging from India’s startup ecosystem.
- Under The Pitch 3.0, plans to support 10 innovators this year, with funding support of up to ₹25 lakh per selected startup.
- Each of the selected startups was awarded funding support of up to ₹25 lakh to help them accelerate product development, market access and business growth.
- Saudi AI-native startups reported average annual revenue growth of 150 percent, close to the global AI-native average of 156 percent.
- Cloud adoption is widespread, with 98 percent of Saudi AI-native startups integrating cloud services into their operations.
UPES Runway's The Pitch 3.0, held in New Delhi, aimed to support AI-native startups, showcasing seven shortlisted ventures from over 20 applications.15
The initiative aligns with UPES's commitment to AI innovation, offering funding of up to Rs 50 lakh for exceptional projects.
Selected startups included Arthik AI, StoreLink, and Memintel, each receiving Rs 25 lakh to enhance their market presence.
Rahul Nainwal, CEO of UPES, emphasized the initiative's role in bridging technology and venture scale.
Meanwhile, AWS's report highlighted Saudi Arabia's AI-native startups, with 72% having formal AI strategies, surpassing the global average of 68%.3
These startups reported an impressive average annual revenue growth of 150%, nearly matching the global average of 156%.
Notably, they are five times more likely to exceed $1 million in annual revenue compared to traditional Saudi startups.
Amr Al-Masri from AWS attributed this growth to Saudi Arabia's investment in digital infrastructure and AI development under Vision 2030.
“The New Delhi leg selected three startups—Arthik AI, StoreLink, Memintel—with funding up to ₹25 lakh each, and plans a September Bengaluru leg. The AWS report highlighted that 72% of Saudi AI-native startups have a formal AI strategy, and 48% generate over $400,000 in revenue per employee.”
CXOToday.com
arabnews.jp
