TM Anbarasan, Hon’ble Minister for MSME, Tamil Nadu, launched AI Venture Factory

HaiVE, a leading on-premise AI company headquartered in Singapore, has signed a Memorandum of Understanding (MOU) with St Joseph’s Group of Institutions to launch AI Venture Factory, an AI startup focused technology business incubator (TBI). 

The launch event, held on November 8, 2023, was attended by over 5,000 participants and graced by Thiru T.M. Anbarasan, Hon'ble Minister for Micro, Small and Medium Enterprises (MSME), Government of Tamil Nadu. Michael Hiller, Co-Founder of Hiller Marine Australia, a HaiVE customer and investor, was the chief guest of the event. 

During the launch event, Dr. B. Babu Manoharan, Chairman of St. Joseph's Group of Institutions, and now Director of AI Venture Factory, emphasized that the goal of this initiative is to serve as a launchpad for HaiVE's products and projects.

Commenting on the event, Deepika Loganathan, CEO of HaiVE, said, “The establishment of the AI Venture Factory marks a historic moment in the journey of artificial intelligence. We are excited to collaborate with the Tamil Nadu government and StartupTN to create India's first government-accredited AI incubator, offering cutting-edge resources, mentorship, and a nurturing environment for AI startups. Through this initiative, HaiVE aims to lead the charge in shaping the future of AI innovation, supporting entrepreneurs, and contributing to India's burgeoning AI ecosystem".

This initiative aims to boost economic growth by nurturing and empowering startups and small businesses, ultimately contributing to the overall prosperity of the state of Tamil Nadu.

Through this collaboration with the Tamil Nadu government and StartupTN, HaiVE is actively fostering the growth of a new generation of innovators and entrepreneurs, ready to lead the AI revolution in India.