Google will prioritize investments in early-stage firms led by women
- ByStartupStory | December 20, 2022
Google will focus on investing in women-led early-stage firms through its Rs 75,000-crore India Digitization Fund, a top company executive said on Monday. At the end of 2020, the business planned to invest $10 billion (about Rs 75,000 crore at the current exchange rate) to make internet connections more accessible. The business paid $4.5 billion for a 7.73% percent stake in Jio and $700 million for a 1.2% stake in Bharti Airtel via the India Digitization Fund (IDF).
“Moving forward, as part of our IDF investments, we will be targeting support for early-stage companies with a particular focus on women-led startups,” At the Google for India event in New Delhi, Sanjay Gupta, country manager and vice president of Google India, stated.
The company revealed various projects powered by artificial intelligence (AI), including those relating to speech technology and voice and video search.
“With AI, text content can convert to video in an instant… Translations from English to virtually any language are possible at scale. AI can bring quantum leaps in online safety through advanced threat detection,” said Sanjay.
The company established a partnership with the Indian Institute of Science in Bengaluru to collect speech data from 773 districts across India in order to improve its language translation and search capabilities.
It also announced a $1 million grant to IIT Madras to establish India’s first responsible AI center.
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