Vedanta Spark, a global corporate innovation, accelerator & ventures program by Vedanta Group to promote tech start-ups, announced its collaboration with Ministry of Electronics & Information Technology (MeitY) and Nasscom’s Centre of Excellence (CoE) - IoT & AI, to accelerate the adoption of digital technologies led innovations.
The Vedanta Spark program aims to accelerate startups leveraging transformative & sustainable technologies to create large-scale impact in partnership with the Vedanta group companies and has already engaged 80 start-ups for more than 120 projects so far. The NASSCOM CoE is known for its successful technology enablement accelerating the innovation requirements of large and mid-size businesses in the fields of healthcare and well-being, process, manufacturing, etc.
Ms. Priya Agarwal Hebbar, Chairperson, Hindustan Zinc Limited & Non-Executive Director, Vedanta Limited, said, “Vedanta’s engagement with MeitY-Nasscom CoE will enable innovative startups to demonstrate & develop their products in our unique ecosystem. Vedanta Spark looks forward to bringing in value delivery across our operations with the goal of utilizing emerging technologies to find solutions that will contribute to long-term environmental, social, and economic sustainability.”
This partnership will explore the potential application of emerging technologies like Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT), and Augmented Reality (AR) / Virtual Reality (VR), among others, across different verticals of Vedanta Group. The collaboration with Nasscom CoE will also help the team at Vedanta Spark to optimize enterprise-level initiatives and processes. There is a vast pool of innovative companies through CoE that specialize in cloud infra optimisation, UAV-based solutions, data-based predictive approaches, and solutions capable of addressing specific problem statements related to enterprise concerns in real time.
“Digital-first and innovation-led approach has become a top priority for businesses today. Our partnership with Vedanta Spark is aimed at unlocking a new wave of innovation and business growth to address both the present and future needs of the customer. The partnership will support the development of cutting-edge technologies that will lead to interesting use cases across the mining, oil and gas sector. Nasscom CoE is actively working towards supporting an innovation ecosystem that includes start-ups, enterprises & academia to take forward the agenda of digitalization and creating the valuable insights that will help the industry and their consumers”, said Mr. Sanjeev Malhotra, CEO, MeitY-nasscom CoE.
The MoU was exchanged between Mr Sanjeev Malhotra, CEO, Nasscom Centre of Excellence for IoT and AI and Mr. Amitesh Sinha Head – Corporate Venture Capital & Vedanta Spark, Vedanta Limited. Both teams committed to implement an agenda that will address the needs and work on the roadmap for the future technology sectors.
About CoE for IoT & AI
An initiative of the Ministry of Electronics & Information Technology (MeitY) and K-tech, NASSCOM Centre of Excellence – IoT & AI is a platform that aims to accelerate the development of the deep-tech industry, enabling inclusion and adoption of emerging technologies in the ecosystem. CoE for the last six years has been enhancing the power of Artificial intelligence and the Internet of Things to bring unprecedented opportunities for Industry, Startups, and Academia.
The National Association of Software and Services Companies (NASSCOM®) is the premier trade body and chamber of commerce of the Tech industry in India and comprises over 3000 member companies. Our membership spans the entire spectrum of the industry from start-ups to multinationals and from products to services, Global Capability Centres to Engineering firms. Guided by India's vision to become a leading digital economy globally, NASSCOM focuses on accelerating the pace of transformation of the industry to emerge as the preferred enabler for global digital transformation. Our strategic imperatives are to reskill and upskill India's IT workforce to ensure that talent is future-ready in terms of new-age skills, strengthen the innovation quotient across industry verticals, create new market opportunities - both international and domestic, drive policy advocacy to advance innovation and ease of doing business, and build the industry narrative with a focus on Talent, Trust, and Innovation. And, in everything we do, we will continue to champion the need for diversity and equal opportunity.
About Vedanta Limited
Vedanta Limited (“Vedanta”), a subsidiary of Vedanta Resources Limited, is one of the world’s leading natural resources companies spanning across India, South Africa and Namibia. The Vedanta Group has significant operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, Nickel, Aluminium, Power, Renewable Energy, Display glass and is foraying into Semiconductors business. For two decades, Vedanta has been contributing significantly to nation building. Governance and sustainable development are at the core of Vedanta's strategy, with a strong focus on health, safety, and environment. Vedanta has put in place a comprehensive framework to be the ESG leader in the natural resources sector, is committed to reducing carbon emissions to net zero by 2050 or sooner and aims to spend $5 billion over the next 10 years to accelerate this transition. Giving back is in the DNA of Vedanta, which is focused on enhancing the lives of local communities. Anil Agarwal Foundation, the umbrella entity for Vedanta’s social initiatives, has pledged Rs 5000 crore over the next five years on various social impact programs and its flagship project, Nand Ghar is setting up model anganwadis across India. Vedanta Ltd. has been listed in Dow Jones Sustainability World Index 2022, conferred Golden Peacock Award for excellence in Corporate Governance 2022 and certified as a Great Place to Work 2022. Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange. For more information, visit www.vedantalimited.com.