Maharashtra to Pioneer Innovation City: A New Hub for AI Start-Ups

Maharashtra's Chief Minister Devendra Fadnavis announced plans for an 'Innovation City' in the state to keep it at the forefront of India's start-up ecosystem. This initiative aims to create a technology hub for AI start-ups, supported by a new partnership with SIDBI and expanded into tier-2 and tier-3 cities.

In a strategic move to maintain Maharashtra's lead in India's burgeoning start-up ecosystem, Chief Minister Devendra Fadnavis has unveiled plans to build an 'Innovation City' in the state, emulating Gujarat's successful GIFT City model. Speaking at a technology forum, Fadnavis highlighted the creation of a new hub for technological innovation, particularly in artificial intelligence (AI).

Fadnavis drew parallels with the Gujarat International Finance Tec-City, emphasizing Maharashtra's ambition to develop an even more advanced Innovation City, which is poised to strengthen the region's position in attracting global business. Maharashtra, home to over 25,000 start-ups, continues to spearhead investment and valuation, boasting the top position in India's start-up rankings, according to Union government reports.

Announcing a series of emergent measures, Fadnavis detailed a Rs 100-crore fund in partnership with SIDBI, aiming to reach beyond Mumbai into smaller cities. He also stressed the necessity of AI adaptation as a force of transformation, proposing AI-focused training institutes and inviting collaborative efforts to propel the AI sector forward in Maharashtra.

(With inputs from agencies.)