UP Plans India's First AI City in Lucknow

By siliconindia  |  Thursday, 28 December 2023, 09:08 IST

UP Plans India's First AI City in Lucknow
Uttar Pradesh is on the verge of establishing India's inaugural AI city in Lucknow, with a primary objective of nurturing and advancing the country's AI ecosystem. The UP Electronics Corporation Ltd, acting as the pivotal agency for the project, has issued an expression of interest (EoI) to seek proposals regarding the planning, creation, and operation of this AI City in Lucknow, as reported by Businessline. Envisaged as a vibrant and dynamic hub, this AI city aims to facilitate state-of-the-art technology, house research centers, and serve as a home to educational institutions. The EoI is an invitation extended to real estate developers, encouraging their involvement in constructing and overseeing the AI city, which stands poised to shape the future workforce by cultivating innovation and expertise in AI-related fields.
In Lucknow, there's a notable presence of Centers of Excellence specializing in AI and medtech, showcasing substantial integration of AI technologies. Particularly, the AI Centre of Excellence at IIIT Lucknow stands as a crucial pillar, providing support to over 15 AI/ML startups and fostering a dynamic environment promoting innovation and entrepreneurship.
Grand View Research has reported the global AI market's value at $137 billion in 2022, projecting an impressive compound annual growth rate of 37.3% from 2023 to 2030. Correspondingly, Outlook's report emphasizes the AI City's envisioned components, including Grade-A certified commercial spaces dedicated to IT companies, cutting-edge data centers, top-notch flexible workspaces, and advanced tech labs. The IT and Electronics Department has pinpointed potential land parcels in Lucknow, with a prime 40-acre area in the Nadarganj industrial zone. This strategic location boasts proximity to essential infrastructure and excellent connectivity to both the Lucknow-Kanpur road and the Lucknow International Airport.
This development aligns with the surging importance of generative AI (Gen AI) among Indian entrepreneurs, leading to the proliferation of numerous startups in this sector. According to Inc42's data, India hosts over 70 GenAI startups that have collectively secured funding exceeding $440 million between 2019 and Q3 2023. The indigenous GenAI market is poised for significant expansion, estimated to surge to $17 billion by 2030 from its $1.1 billion valuation in 2023.

CURRENT ISSUE

BEST STARTUPS TO WORK FOR

siliconindia