The Tech Entrepreneurs Association of Mumbai (TEAM), which represents startups and tech companies from the city, is having discussions with legacy companies to work out partnerships and collaborations, governing council member Naiyya Saggi said.
She added that some of these partnerships have become incubators for the startups involved.
“These meetings usually involve some consultation sessions to understand the new technology better, or the problem statement. Some have led to partnerships where the tech startup deploys a use case for the enterprise,” she explained.
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Calling it a win-win for the startup and the enterprise, she said that such collaborations allowed startups to demonstrate proof of concept, while for the enterprises it has led to solving an operation hurdle, or improving operational efficiency.
She, however, did not give any details on which legacy companies have opted for partnerships and the role of incubators through this route.
The discussions were initiated to bridge knowledge gap between the startups and legacy companies.
“Unless the old economy (legacy businesses) and the new economy (startups) collaborate, there is little scope for growth,” she said.
TEAM’s members include Haptik, PharmEasy, Dream Sports (which runs Dream11), The Good Glamm Group, Rebel Foods, and Zepto, among others. It also hosts the Mumbai Tech Week between February and March every year, which sees participation from policymakers, tech leaders, and investors.
Apart from the established companies, the not-for-profit body is also in talks with the government and policymakers to strengthen the tech ecosystem in the city and state, especially for artificial intelligence (AI) led ventures and innovations.
TEAM has advocated greater focus on research and development in AI to develop practical and deployable use cases. “One of the major differences between markets like North America and India is the deep research ecosystem. We need to apply that focus here as well, in whatever way works best for India,” Saggi said.
In addition to a stronger focus on research, she also said that in order to develop a large and efficient enough AI-skilled workforce to supply the increasing demand for AI-led solutions, retraining the education curriculum will be required.
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