T-Hub and Hexagon Announce Winners of Cohort 12 of LAB32 Program

T-Hub and Hexagon Announce Winners of Cohort 12 of LAB32 ProgramIndia 05th July 2024: T-Hub, India’s leading startup incubator has today announced the winners of Cohort 12 of its flagship LAB32 program, conducted in collaboration with Hexagon, a global leader in sensor, software, and autonomous solutions. The program attracted over 230 applications, highlighting the robust AI and Digital Reality startup ecosystem in India.

Three outstanding startups emerged as winners from a pool of 12 finalists after completing a rigorous 100-day program under the mentorship of LAB32 and the guidance of Hexagon’s global experts. The winners, who developed Proofs of Concept (PoCs) addressing real-world challenges identified by Hexagon, are Indika AI, SwitchON and Xeeed IO. Indika AI leveraged AI to transform operations in finance, medicine, and law, demonstrating a PoC for real-time multilingual communication. SwitchON showcased AI-driven quality inspection systems for manufacturers, highlighting a PoC focused on 3D visual inspection of engine block defects. Meanwhile, Xeeed IO enhanced operational efficiency with AI/ML, winning recognition for a PoC featuring an advanced equipment status dashboard integrated with HxGN EAM and Hexagon Immersal AR.

With India’s AI market growing at a CAGR of 25-35% and projected to reach approximately $17 billion by 2027, the selection of these innovative AI-focused startups represents a significant step towards harnessing this tremendous growth potential. T-Hub’s flagship program, LAB32, strategically executed a Market Readiness Program tailored for MVP stage startups, addressing specific challenges identified by Hexagon. These included developing digital twins for EV manufacturing, real-time language detection and translation solutions, and advancing prescriptive maintenance capabilities using AR and VR for process plants.

MSR, CEO of T-Hub, added, “T-Hub is proud to recognize the achievements of Indika.AI, SwitchON, and Xeeed IO. These startups exemplify the innovative spirit driving India’s AI sector forward. We are dedicated to nurturing such visionary initiatives, providing them with the mentorship and resources needed to propel their solutions into international markets. This collaboration underscores our commitment to nurturing breakthrough innovation that redefines industries and drives global impact.”

Hexagon expressed enthusiasm about potentially deepening its engagement with the winners, currently evaluating potential working models and contractual agreements post-mutual alignment. The winners are set to collaborate with Hexagon to implement a robust go-to-market strategy.

Navaneet Mishra, Senior Vice President and Head of Hexagon R&D India, said, “We are happy and excited with the success of Hexagon’s Startup Catalyst Program. Hexagon R&D India is deeply invested in driving innovation in digital reality and autonomous technologies by nurturing fresh thinking and original perspectives. In the last 100 days, we have seen it happen with the startups’ ambitious visions and innovative demos. Hexagon is now looking forward to helping them get their solutions to much larger scales and global markets.”

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