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FTCCI and IIT Hyderabad Forge Transformative Collaboration to Propel Industries into the Future

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An initiative that envisions tomorrow’s technology by bridging academia, industry, and creative minds together to innovate and implement future solutions

Hyderabad, January 11, 2024 – In a groundbreaking move that “promises to reshape the landscape of industrial innovation,” the Federation of Telangana Chambers of Commerce and Industry (FTCCI) has joined forces with the Indian Institute of Technology Hyderabad (IIT-H) to launch “Futurithm,” a pioneering initiative designed to showcase future technologies and guide industries in envisioning tomorrow.

The joint initiative, conceived and launched by two leading organizations- FTCCI and IIT-H, was revealed to industry leaders, business and startup facilitators, and representatives of defence studies at a gathering in Hyderabad on January 10, 2024.

Mr. Uday Desai, Founder and Director of IIT-Hyderabad, expressed his enthusiasm for the collaboration, emphasizing the need for such partnerships in the country. Addressing misconceptions about IITs operating in isolation, he acknowledged the merits of siloed operations while praising the collaboration as a crucial step forward. On Wednesday night, he made these remarks as the Chief Guest at the launch event held at Hotel Radisson Blu, Banjara Hills.

The collaboration comes when innovation in various technologies is deemed critical, particularly emphasizing the emerging fields of space technology, artificial intelligence (AI), machine learning (ML), and life sciences. Mr. Desai highlighted the prominence of Hyderabad as a Life Sciences Capital and urged FTCCI to explore the CRISPR-Cas9 technology, especially in addressing conditions like sickle cell disease.

FTCCI’s Director, Dr. Ankit Bhatnagar, provided an overview of Futurithm, describing it as a unique platform encompassing a Global Conference, Industrial Challenge, and Exhibition. The International Conference is poised to attract thought leaders from ten countries, sharing insights into the future of technology and innovation.

Futurithm aims to tackle societal and industrial challenges through technology and collaboration. Dr. Bhatnagar emphasized the importance of not only developing solutions but also implementing them. The Grand Industrial Challenge will host innovators addressing real-world challenges with an exhibition showcasing cutting-edge technologies, startups, and innovations.

During the event, a Memorandum of Understanding (MoU) was exchanged between FTCCI and IIT Hyderabad, outlining their commitment to bringing academic innovations to the industry. The collaboration seeks to bridge the gap between classrooms and industries with a 1500-day journey from problem identification to showcasing solutions during the main event.

The aim is to bring problem solvers, technology enthusiasts, industry leaders, and innovative solutions together to develop solutions and implement them. The mission is to reach 1300 institutions and 700 organizations across India to gather problem statements for “innovative minds” to work on. The grand industrial challenge will distinguish itself from a hackathon; it will dispatch problem statements from industries, share them across institutions, and then shortlist the best ideas over a period.

Subsequently, participants will present their Proof of Concept (POC) during the Futurithm, where an interactive experience zone will be set up. Despite the abundance of AI solutions in the market today, 70 to 80 per cent are irrelevant to the industry. The conference will focus on knowledge sharing and business development.

Mr. Surya Kumar, Dean of Innovation at IIT Hyderabad, stressed the need for joint ownership between academic research and future industry technology displays. He highlighted the importance of synchronizing academia, industry, and startups within a cohesive innovation ecosystem.

Speaking on the sidelines of the event to My Startup Life!, Dhruv Gupta, COO of iTIC Incubator at IITH, said this initiative “promises to reshape the landscape of industrial innovation and academic collaboration.”

The launch event witnessed the presence of industry leaders, including Mr. BP Acharya, Brigadier IPS Sethi, Mr. Sujit Jagirdar, Ms. Kathleen Davey, Mr. Dhruv Gupta, Mr. Vineet Goyal, Mr. Ravi, Mr. Kiran, Mr. RP Naidu, Advocate Suryanarayan Muddapati, Mr. Bharat Sangabatla and their collective presence underscored the significance of this collaboration in fostering innovation, bridging gaps, and propelling industries into a future-ready era.

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