To spread Artificial Intelligence technologies among startups, SMEs, and MSMEs Infibeam Avenue  partnered with the Entrepreneurship Development Institute of India and signed an MoU. Under this  Memorandum of Understanding, Infibeam implemented a THEIA platform that helps and enables businesses and students under EDII to develop their own AI tools and products. 

This collaboration will focus on startups through three programs including the startup accelerator  program, the MSME support program, and the AI implementation program. This partnership aims to  put dynamic factors into small businesses and entrepreneurial ventures by providing them with tech  and AI solutions. The chairman and managing director of Infibeam Avenues, Vishal Mehta highlighted  that AI has become a key role for any business, only those businesses that are digitalized and have  artificial intelligence as an integral part of their business can have sustainable growth and survive in  upcoming years. 

This Ahmedabad-based company also offers a platform with an AI facility manager that collects data  of all types including visual data from EDII campus CCTVs and facilitates the monitoring of authorized  or unauthorized entries or exists. The platform also includes security management, resource management, energy management among all EDII campuses, and space monitoring. Infibeam also  helps to create business development opportunities for micro, small, and medium enterprises,  startups, and EDII beneficiaries using AI solutions developed under this partnership.  

This collaboration aims to help MSMEs, startups, and SMEs to adapt to the changing landscape and  compete in the digital world. The digitalization of business helps in better advertisement and reaching more customer base with less overall expenditure due to low commissions in the online marketplace. Recently, the government of India announced its plan to launch a scheme to help small businesses join  the Open Network for Digital Commerce to start digital product selling. 

Conclusion: 

The collaboration has been announced by the Infibeam Avenues and EDII to help small and micro businesses go digital and adopt Artificial intelligence. Infibeam Avenue partnered with the  Entrepreneurship Development Institute of India and signed an MoU, under which Infibeam  implemented a THEIA platform that enables businesses and students under EDII to develop their own  AI tools and products. This partnership aims to put dynamic factors into small businesses and  entrepreneurial ventures by providing them with tech and AI solutions. The company also developed a platform with an AI facility manager that collects data of all types including visual data from EDII  campus CCTVs and facilitates the monitoring of authorized or unauthorized entries or exists.

The  platform also includes security management, resource management, energy management among all  EDII campuses, and space monitoring. Infibeam also helps to create business development opportunities for micro, small, and medium enterprises, startups, and EDII beneficiaries using AI  solutions developed under this partnership. Entrepreneurs who are digitalized and have artificial  intelligence as an integral part of their business can have sustainable growth and survive in the  upcoming years. The Indian e-commerce market is expected to grow and reach the $400 billion mark  by 2030.