Plaksha University launches Binny Bansal Institute for Inventing the Future; gets Rs 70 crore start-up funds

NEW DELHI : The Plaksha University has launched the Binny Bansal Institute for Inventing the Future (IIF) in India. The institute has received a funding of Rs 70 crore from Binny Bansal, the founder of Flipkart and xto10x. The institute will focus on developing solutions to tackle global challenges using AI, blockchain, and robotics.

The IIF institute will further focus on Plaksha’s aim to use AI technology to address challenges in the healthcare, agriculture, energy, and environmental sustainability sectors. The institute will also transform research findings into scalable, real-world applications that will address both local and global challenges.

“By translating research into practical applications and developing AI+x solutions, IIF is set to be a transformative force providing further impetus to Plaksha University as a hub for the next generation of technology leaders,” the Plaksha University statement said.

Plaksha University’s new institute

According to Plaksha University, the institute will also leverage Plaksha’s partnership with the University of California, Berkeley. Additionally, the Berkeley Artificial Intelligence Research (BAIR) Lab is one of the most advanced academic AI research labs. Moreover, joint research projects, faculty and student exchanges, and best practices in AI education and research methodologies will be conducted as part of this collaboration.

Speaking on the institute launch, Binny Bansal the founder of Flipkart and xto10x, said: “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.”

Shankar Sastry, the founding chancellor of Plaksha University and Thomas Siebel Distinguished Professor of Computer Science at UC Berkeley added: “The launch of the Binny Bansal Institute for Inventing the Future marks a critical milestone in our mission to transform research and innovation in India. The Institute will be a hub for combining technical and societal considerations into the design of our emerging infrastructure systems. Plaksha is deeply committed to fostering interdisciplinary research and creating solutions that can have a tangible impact on society, and this Institute. 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.”