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Paytm launches virtual incubator as a part of ‘Build For India’ initiative for startups

India’s leading digital payments platform Paytm has launched ‘Indian Open Source Project Incubator’ to enable building and development of innovative solutions among technology developers in India. With this endowment, PayTm is hoping to connect all tech enthusiasts including students and professionals from across the country.

This incubator programme is a part of  ‘Paytm – Build for India’ and its first batch will run for a period of 6 months from 1st January 2018. The programme will predominantly focus on latest technologies like machine learning, augmented reality, virtual reality and at the same time, it will pave a way for designing solutions around education, digital lifestyle and financial inclusion. Also, the virtual incubator will play a major role in finding developers that will help in providing world-class solutions to business problems.

Periodically, as a part of this programme, mentoring sessions, hackathons, bootcamps and also technology and design support for the student community will be organized.

In November 2017, T-Hub, India’s largest technology incubator announced that it is going to launch its first accelerator programme in February 2018. Just a few week ago, T-Hub, along with Boeing launched the ‘Boeing HorizonX India Innovation Challenge 1.0’ to overcome complicated tasks in the areas of autonomous and unmanned systems, advanced manufacturing, industrial IOT and automation, analytics, artificial intelligence (AI) and machine learning (ML).

Earlier this month, British carmaker MG Motor’s (Morris Garages) Indian arm MG Motor India has decided to include  5 Indian startups under its innovation program, ‘MG Drives Innovation’ that will bring additional collaborations to its business. The selected startups are CarIQ, Steradian Semi, Altigreen Propulsion Labs, Exploride, and Zuper.

Paytm thinks that even though there are a lot of ongoing open source projects in our country, most of them do not contribute enough to the developer community. With their Open Source Project Incubator, an effort will be made to promote open source projects developed across the country.

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