On February 4, 2024, Bhavish Aggarwal, co-founder of Ola Cabs, made an exciting announcement regarding a collaboration with the Indian Institute of Technology (IIT) Bombay. Speaking at the 19th edition of E-Summit, the annual flagship business conclave of IIT Bombay’s Entrepreneurship Cell, Aggarwal revealed plans for research collaboration with both faculty and students in the field of Artificial Intelligence (AI). As a 2008 graduate of IIT Bombay in Computer Science Engineering (CSE), Aggarwal emphasized the changing landscape of opportunities in the technology field in India.
During his speech, Aggarwal shared his own experience, highlighting the limited opportunities in technology during his time at IIT Bombay. “In those times if you had to work in the core technology field, you had to go to the US because India did not have many opportunities,” he said. However, he expressed his belief that times are changing, and Ola is determined to play a part in this change. Aggarwal encouraged IITians to stay in the field of technology, stating, “If you have an idea in the technology domain that can change the world, we will fund you.”
Aggarwal emphasized the importance of technology in creating a broader impact on humanity. While acknowledging the significance of sectors such as trading, investments, and consulting, Aggarwal stressed that technology is the key to making a substantial difference. He urged students to consider the potential of technology to transform lives.
To further support this collaboration, Aggarwal introduced the Ola Graduate Fellowship Program, which offers a paid opportunity for 5-7 selected students from IIT Bombay to engage in research in AI. Additionally, Ola expressed interest in collaborating with faculty researchers from the field. This collaboration creates exciting opportunities for students to work with industry experts and contribute to cutting-edge research in AI.
The E-Summit, a two-day celebration held on the Powai campus of IIT Bombay, commenced with great enthusiasm. One of the most popular events of the festival, The Ten Minute Million, witnessed three short-listed teams presenting their enterprises to 16 prospective investors. Each team had the opportunity to secure an investment of up to Rs 24 lakh. Two teams successfully secured the funding they were seeking, adding to the entrepreneurial spirit of the event.
The collaboration between Ola and IIT Bombay marks a significant step forward in the development of AI research in India. Through this partnership, students and faculty have the opportunity to work together on cutting-edge projects, pushing the boundaries of technological advancements in the country. It is a testament to the increasing importance of AI and its potential to revolutionize various industries.
With Bhavish Aggarwal’s personal experience as an IIT Bombay graduate and his success as the co-founder of Ola Cabs, his words carry weight and inspire students to pursue their passion for technology. This collaboration offers a promising avenue for aspiring AI researchers to contribute to groundbreaking advancements in the field, right here in India.
As Ola and IIT Bombay embark on this journey together, the future of AI research in India looks brighter than ever before. The possibilities are endless, and the impact on society could be profound. Through this partnership, India has the potential to become a global hub for AI research and innovation. It is an exciting time for students and researchers in India, as they have the opportunity to shape the future of technology and make a significant impact on humanity.
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