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Edtech major upGrad is investing ₹30 crore towards setting up TuringMinds, which outsources research and product development to other companies.
TuringMinds currently operates over 15+ offline facilities in the US, India, Europe, the UK, and the Middle East. Further, its offices in Hyderabad, Bengaluru, and Detroit are operating with a professional workforce of 250 product engineers and the business aims to double this in the next quarter.
TuringMinds is building a complete ecosystem of senior data scientists and ML engineers through campus recruitments in India.
“TuringMinds specialises in taking an idea, quickly building prototypes and accelerators (Apps), testing them with the industry, and picking the cherries among them. We are seeing tremendous response from industries globally (SMEs to MNCs) for developing world-class products and services in emerging technology areas like AI and ML,” said Prof Anuradha Sharma, President of TuringMinds.
On the need for such strong hiring in these times, Sharma added, “Our teams will work as the core team to incubate 50 prototypes (including Products and Accelerators) and file 8-10 patents to support small and medium-scale industries in the next eight months.”
Commenting on the development, Dr Dakshinamurthy V Kolluru, CEO of uGDX and TuringMinds added, “We have always worked with a very strong industry-centric DNA, and we further saw this as an opportunity to leverage the expertise of our talent through TuringMinds. TuringMinds provides a one-of-a-kind opportunity for industry-focused academicians to directly work with corporates and create business-ready products for them.”
“In addition to our LifeLongLearning suite, we are hiring bachelor’s to doctorate degree holders in large numbers to fuel our mission of developing full-fledged marketable products. This further gives upGrad an edge over its peers and strengthens our stature as the key employment enabler within the country,” said Ronnie Screwvala, Co-Founder and Chairperson, upGrad.
Headquartered in India, TuringMinds is expanding its global footprint with a business goal of incubating and designing 50+ prototypes every year. It has set out a clear target to become the market leader building an ₹800 crore ($100 million) business with strong Intellectual Properties in the next five years.
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