T-Hub, the startup engine based in Hyderabad, launched the NanoAccelerator Programme in association with United Technologies Corporation (UTC.) The Smart City/Smart Building NanoAccelerate Programme will concentrate on startups working on video analytical solutions.
Five video analytics startups have been selected for the first NanoAccelerator programme cohort, out of which two are from India, one is from Israel and the remaining two are from US. IntelliVision, Duran Inc., Emza Visual Sense, Uncanny Vision Solutions Pvt., Ltd., and Cognitifai are the final five selected startups with strong technical and research teams. All the five startups hold more than 20 granted and pending patents and provide services to Fortune 100 companies.
Speaking about the programme, Vice President of UTC Systems and Control Engineering, Ali Saidi said, “I was positively impressed with the startups that presented. For us video surveillance is key and we are present across business segments where video analytics are important. We are looking for something that can bring in that level of accuracy.”
According to the official statement released by T-Hub, the five selected startups generate a combined revenue of $ 4 million, while the total funding raised by them ranges between $ 7 million and $ 8 million. Jay Krishnan, the CEO of T-Hub, speaking about the startups selected for the first cohort said, “These truly global startups were researched, analyzed and scouted for the Smart City/Smart Building NanoAccelerator programme. The solutions they offer are niche and will play a key cog in the near future as the smart buildings and cities not only become reality but a scalable necessity.”
UTC will work closely with the selected startups to provide seamless actionable intelligence data with minimal human intervention. Using an open innovation framework, the initiative aims to enhance UTC’s integrated platform with reliable and efficient video analytics software and embedded intelligence. The technology related company also launched a lab at T-Hub in Hyderabad to help foster innovation and develop collaborative solutions with the company.
The five startups will have the opportunity to work with UTC to collaborate and prioritize their solution at Hyderabad. The startups will also be provided with the opportunity to develop a proof of concept (POC) on the prioritized solution. The POC will then be showcased to key executives of UTC during the ‘Demo Day’ at T-Hub. Two of the selected POC’s will also receive a funding of $ 25,000 along with access to T-Hub’s network of mentors, industry experts, investors and service providers.