The Indian Institute of Management Calcutta has announced the establishment of the IIMCIP Technology and Innovation Council (IIMC-TIC), a new Section 8 company under IIM Calcutta Innovation Park! The landmark announcement was made during a launch event held at the IIM Calcutta campus on June 22, 2024, in the presence of eminent figures like the Chairman – IIM Calcutta Board of Governors, Director – IIM Calcutta, Chairman and Board members of IIM Calcutta Innovation Park and Padma Shri awardee Prof. Ashok Jhunjhunwala, the proposed Chairman of the Board, IIMC-TIC.

The vision of IIMC-TIC is to foster innovation, push technology-driven growth and promote inclusive development across East and North-East India. The Council’s primary mission is to catalyse innovation and entrepreneurship while ensuring that the benefits reach all sections of society through a human-centric approach.

IIMC-TIC’s key activities would focus on:

• – Fostering a technology-driven entrepreneurship culture among students through academic partnerships in East and North-East India,
• – Catalysing ‘Build Clubs’ and technology communities within the academia to encourage creativity and nurture innovation,
• – Facilitating industry-academia collaborations to address industry challenges,
• – Supporting the development and commercialisation of deep tech solutions,
• – Leveraging regional strengths to drive impactful innovation to address key developmental challenges, and
• – Providing policy-level inputs to enhance the technology-led entrepreneurship ecosystem in East and Northeast India.

To achieve the mission of creating a large-scale socio-economic impact leveraging technology and innovation, IIM Calcutta (IIM Calcutta Innovation Park) will actively seek strategic partnerships with top technology institutions in India and abroad. It has already joined hands with the IIT Madras Incubation Cell, which is one of the best technology innovation centres in the country. This collaboration represents a confluence of intellectual prowess and innovation excellence and is poised to create a powerful synergy leveraging the business acumen of IIMCIP and the technological expertise of IIT Madras Incubation Cell. Padma Shri awardee Prof. Ashok Jhunjhunwala, a luminary in the realm of technology and innovation and a visionary leader has agreed to preside as the Chairman of the Board of the IIMCIP Technology and Innovation Council (IIMC-TIC). Under his leadership, IIMC-TIC is poised to launch groundbreaking initiatives to revolutionise the innovation and entrepreneurship ecosystem, particularly in East and Northeast India. 

The North Eastern Council, in association with IIM Calcutta Innovation Park, organised the “Northeast Startup Summit” on the 29^th of January, 2024, at Hotel Vivanta, Guwahati, bringing much-needed exposure to the startup ecosystem of the region. Serving as the culmination of the incubation program for the initial cohort of 270 startups under the North East Entrepreneurship Development Programme, a joint initiative by the North Eastern Council and IIM Calcutta Innovation Park as the Implementation Partner, the Summit stood out as the largest of its kind in the area.

The primary goal of the Summit was to showcase and celebrate the evolution of the startup ecosystem in Northeast India while providing a platform for innovative minds to connect, collaborate and gain exposure. The event witnessed a footfall of over 500 startup founders from Northeast India, ecosystem enablers, celebrated entrepreneurs, corporate leaders and some of the top-notch investors in the country.

The event was graced by the Secretary of the North Eastern Council, K. Moses Chalai, IAS, who was accompanied by Som Kamei, IPoS, Planning Advisor, North Eastern Council and M.C Omi, Ningshen, IRS, NECBDC. The Chairman and Managing Director of NEDFi, PVSLN Murty was also present at the Summit, offering his valuable insights on funding and encouraging the emerging startups of the region.

Addressing the gathering, the NEC Secretary conveyed his satisfaction with the results of the North East Entrepreneurship Development Programme. “I am happy to see the 270 startups selected for the program benefiting from the guidance and mentorship provided by IIM Calcutta Innovation Park,” he remarked. He further assured the startups of comprehensive support and emphasised their crucial role in driving the economic transformation of the region.

The Summit garnered significant exposure for the fast-evolving startup ecosystem of the region as numerous reputed figures from India’s startup ecosystem participated in the event. Notable attendees included Sagar Daryani, Founder & CEO, Wow! Momo; Pratap TP, Founder, QwikCilver Solutions; Shradha Sharma, Founder & CEO, YourStory Media; Vikram Gupta, Founder & Managing Partner, IvyCap Ventures; Hari Balasubramanian, Member, Indian Angel Network; Anuj Sharma, Founder, ALSiSAR IMPACT; and Anil Chhikara, Head – Global Strategy, Marwari Catalysts, to name a few.

A key highlight of the mega event was an eclectic exhibition by over 80 startups from across the eight states of Northeast India, serving as a testament to the unique products and innovations emerging from the vibrant region.

While the visiting investors expressed interest in a number of startups from the region, the celebrated entrepreneurs were overwhelmed by the sheer variety and diversity of the products displayed by the startups at the exhibition.

“It feels fantastic to be here. The warmth, passion and the kind of innovation on display are just amazing. We are a consumer-dominated country. Given the kind of consumer products that I have seen here, I think many of them have the potential to scale nationally. I believe Northeast India is the future of our country,” said Sagar Daryani.

Shradha Sharma, the founder of YourStory, shared a similar sentiment about the quality of innovation in Northeast India. “I am truly impressed by the passion of the entrepreneurs here, and the array of products is mindboggling! From a delightful assortment of handloom and handicrafts to cutting-edge innovations in drones, 3D and robotics – the region has it all! The startups from Northeast India have it all to be successful. They just need some support in building a good network and securing market linkages,” she said.

In an insightful reflection on the program’s achievements, Dr. Subhrangshu Sanyal, the CEO of IIM Calcutta Innovation Park, shed light on its success.  “Over the past nine months, the 270 startups from Northeast India underwent intensive mentoring, resulting in significant strides. A considerable portion of these startups garnered positive responses from the market, with many witnessing a doubling of their revenue and some successfully securing funding. This Summit is a celebration of the success stories of these Northeast Indian startups. These success stories are now going to go pan-India and I think this is the success of this initiative,” said Dr. Sanyal.

In a significant announcement, the IIM Calcutta Innovation Park extended investment letters of intent to 9 startups incubated under the North East Entrepreneurship Development Programme. This move is anticipated to greatly enhance the investment landscape of the region, potentially attracting subsequent funding from venture capitalists at the national level.

Over the past five years, the startup ecosystem in Northeast India has experienced significant advancement, as reflected in the impressive performance of the Northeastern states in DPIIT’s States’ Startup Ranking. Initiatives such as the Northeast Startup Summit are crucial catalysts for garnering visibility and offering entrepreneurs valuable networking opportunities.

In recent years, the demand for 3D technology has witnessed a conspicuous surge, with its market size expected to reach $703.4 billion in 2030. While COVID-19 caught everyone’s fancy for a real-life experience of virtual shopping through Augmented Reality, it has further necessitated the use of 3D images in the eCommerce industry. The concept of the metaverse taking the world by storm is hooked on 3D modelling for enabling a realistic experience for the users. Further, the dependency on 3D technology in movie production, gaming, healthcare and architecture is undeniable. It goes without saying that experience-driven business is the future and 3D technology has to play a colossal role here. While the world is up on its toes to make the best use of 3D technology, here’s an IIMCIP incubated startup from Assam, all set to disrupt the industry with its innovation that’s going to make the creation of 3D models as easy as pie.

My3DMeta has built a proprietary AI/ML solution that can instantaneously convert 2D images into 3D models in real-time. These models are scalable, accurate, affordable, and interoperable, which give them a striking edge over their market counterparts. A user can convert 2D images into 3D models in real-time and export the models to virtually any platform without having to incur an additional expense.

My3DMeta doesn’t confine itself to being a 3D model generator alone but has positioned itself as a one-stop platform for everything that has to do with 3D models. The platform offers a wide collection of 3D characters, pets and accessories for users to purchase. It further enables users to store all their 3D content in one place for efficient 3D asset management.

Apart from the interoperability of the 3D models, what gives My3DMeta a cut above the rest is the jaw-dropping accuracy of its 3D models. While most of the existing players have either limited themselves to the creation of toon replicas or 3D models with far-fetched resemblances to real characters, My3DMeta has carved a niche for delivering highly detailed, photorealistic 3D models with more than 90% accuracy. This could be attributed to its smart inception move in 2016 to start off as a company – My3DSelfie – that crafted personalized 3D figurines from photographs with 90% accuracy, eliminating the need for real object scanning. Seven years into the business, the startup collected millions of data points to build the largest library of 3D human and pet models, as told by the founder, Harsha P Deka. By feeding these data points into machine learning, the startup has built a sturdy AI algorithm, which results in the astounding accuracy of the 3D models, created in record-breaking time.

In 2022, My3DSelfie was renamed as My3DMeta and thus began the works to give shape to a comprehensive 3D platform that would enable the creation of 3D models at strikingly reduced time, cost and effort.

“In the first year, it took us 70 hours to create a 3D model from the design process. In the fifth year, the time taken to create a model came down to 5 hours. And in our latest version under My3DMeta, we are converting 2D images into 3D models in real-time using AI, without compromising a bit on quality and accuracy,” says Harsha.

What’s more, while a 3D model for animation will not usually work in gaming, My3DMeta’s patent-pending version assures that its models are operable in any format and across any platform – be it for gaming, metaverse, animation, 3D printing, etc. All these factors come to play key roles in drastically reducing the price of these high-quality 3D models.

“My3DMeta makes 3D modelling scalable, accurate and super inexpensive. So, what you usually get for thousands of dollars will now be available for $20,” Harsha elucidates.

“What Canva did for 2D, we are going to do for 3D.” – Harsha P Deka

The My3DMeta platform will be launched worldwide soon, which is predicted to disrupt the 3D industry at large, making 3D modelling easier and cheaper than ever. In Harsha’s words, “Designers, whether skilled or unskilled, can use our platform to create 3D models and make money out of it. In short, what Canva did for 2D, we are going to do for 3D.”

The startup has already inked commercial partnerships and POCs with Sony, InMobi, Samsung, MetaSky, Metasimz, Epoch Gaming and CRED. It has also earned exclusive licenses for Prabhu Deva, Mohan Babu, Bob Ross and Charlie Chaplin.

Harsha’s experience and exposure to the 3D and animation industries since 2010 lent him a keen understanding of the challenges of the 3D industry, which motivated him to work on building a sturdy solution. A graduate of Computer Science from Carleton University in Canada, Harsha had earlier founded a startup, Myware Solutions Inc., that predominantly focussed on game development, multimedia and design, 3D modelling and VFX. The exposure gained in terms of skills, experience and networking through his startup, laid ahead a path for Harsha to realize a pathbreaking solution for the 3D industry. Making My3DMeta see daylight demanded a highly qualified team. Harsha left no stone unturned to convince and onboard industry experts with experience in chairing key departments in companies like Walmart, Google, Embibe and the like.

With AI and ML evolving into building blocks of innovations in the startup world today, Harsha’s advice to the youth aspiring to build AI-enabled products or platforms is to hone their expertise in Artificial Intelligence and Machine Learning, or look for a co-founder with the expertise and having first-hand experience of at least 5-6 years. Capital, being a key factor in developing futuristic technology, Harsha recommends getting enrolled in good technology accelerators, which can provide support both in terms of technology and seed money.

In fact, Harsha signed up for the incubation program under IIM Calcutta Innovation Park in the initial stage of his startup. As an IIMCIP incubated startup, he received a seed fund of Rs. 50 Lakhs, which aided his efforts to scale and transition from My3DSelfie to My3DMeta.

My3DMeta, with its futuristic innovation, is expected to open floodgates for microentrepreneurs and give rise to a large community of professionals looking to build a lucrative career in 3D design. And with a man from the North Eastern part of India being responsible for ushering this global disruption, the amount of inspiration the youth of the region will draw from this success story of My3DMeta would be unparalleled.