24th April 2024: SCOPE, a leading startup networking platform, unveils Project HALO, an ambitious endeavor to foster innovation and growth in the burgeoning GenAI landscape. With a significant investment commitment of $1 million USD, HALO aims to accelerate the development of DeepTech startups, particularly in the fields of Artificial Intelligence and Large Language Models (LLMs).
India’s recent decision to deregulate the launch of AI models without prior approvals has set the stage for unprecedented opportunities in the GenAI sector. Recognizing the transformative potential of this move, SCOPE is stepping up to support startups navigating this dynamic landscape with HALO.
HALO goes beyond a conventional acceleration program; it’s a holistic initiative designed to empower GenAI startups at every stage of their journey. Central to HALO’s offerings is an impeccable Advisory Council comprising industry veterans and experts who will provide invaluable guidance and mentorship to participating startups.
In addition to advisory support, HALO offers startups unparalleled access to SCOPE’s extensive network, connecting them with industry leaders, potential partners, and customers. This network access is poised to open doors to new opportunities and collaborations, propelling startups to greater heights.
One of the key highlights of HALO is its commitment to providing capital investment to selected startups. With a capital injection of $100,000 USD for each of the ten chosen startups, HALO aims to fuel their growth, scale their impact, and catalyze innovation in the GenAI space.
Speaking on the launch of HALO, Appalla Saikiran, founder & CEO of SCOPE expressed the company’s dedication to driving innovation and collaboration within the startup community. “We believe in the transformative power of GenAI startups to shape the future of technology. With Project HALO, we aim to provide startups with the resources and support they need to thrive and make a lasting impact.”
SCOPE launched a $45 Mn venture capital fund focused on fintech and gaming sectors in December last year. SCOPE VC operates as an independent investment banking arm under the SCOPE ambit, to identify, nurture, and accelerate groundbreaking startups that demonstrate exceptional promise and disruptive potential. While its primary areas of investment would be fintech and gaming, the VC fund is also looking at broadening the horizon to include enterprise tech, climate tech and physical intelligence, which is a combination of AI and robotics.
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