Flipkart co-founder Binny Bansal has committed Rs 70 crore to set up the Binny Bansal Institute for Inventing the Future (IIF) at Mohali-based Plaksha University.
The newly-launched institute will focus on artificial intelligence (AI), blockchain, and robotics to develop scalable solutions across sectors like healthcare, agriculture, energy, and sustainability.
Last year, the university established a similar institute in association with Info Edge, which owns brands including naukri.com, 99acres.com, jeevansaathi.com and shiksha among others--The Info Edge Center for Entrepreneurship--to foster mentorship, incubation and resources for students.
The new institute will focus on developing AI-driven applications in fields such as biotechnology, climate science, and financial technology besides mentoring AI talent to bridge the skill gap.
“The future of technology lies in solving real-world problems. This Institute reflects my belief that the power of frontier technologies can radically improve lives, from healthcare to clean energy. I am excited to see how this initiative will develop scalable solutions for global challenges and equip the next generation of innovators with the skills they need to lead the way," said Bansal, who also founded software and consulting firm Xto10x.
The university will also collaborate with the University of California, Berkeley, and its Berkeley Artificial Intelligence Research (BAIR) Lab on joint research projects, faculty and student exchanges, and AI education initiatives.
Prof Shankar Sastry, Founding Chancellor of Plaksha University, noted that the institute would serve as a hub for interdisciplinary research, integrating technical and societal considerations into innovation. "The partnership with Berkeley will bring world-class expertise, cutting-edge research collaborations, and a global perspective, helping position India as a leader in deep-tech innovation," he said.
Besides well-known academicians, Plaksha University, established in 2021, is backed by several technology and business leaders, including Neeraj Aggarwal, Chairman – Asia Pacific, BCG; Rakesh Bharti Mittal, Vice Chairman, Bharti Enterprises ;Hitesh Oberoi, Co-promoter & CEO, Info Edge (Naukri.com); Srikanth Velamakanni, Co-founder, Fractal Analytics; Sujeet Kumar, Co-founder, Udaan; Dalip Pathak, Special Limited Partner, Warburg Pincus LLC; CP Gurnani, former MD & CEO, Tech Mahindra; Pramod Bhasin, Chairman, Clix Capital among others.
Its corporate donors include companies like Bharti Foundation, Havells, HT Parekh Foundation, Mphasis, Axis Bank and Motilal Oswal.
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