IFS partners Hatch for first AI-machine learning incubator

IFS, the global cloud enterprise software company, is partnering with Hatch to enable the six-week ChallengerX Incubator program – Sri Lanka’s first AI-Machine learning Incubator.

IFS has the leading tech stack for Scheduling and Service Management. As experts in the industry, IFS is continuously looking to innovate and improve its platform’s service experience.

The incubation program aims to drive innovation within Sri Lanka’s growing technology industry by providing a new opportunity for entrepreneurial talent. With a proven commitment to the industry and over 20 years of operating in Sri Lanka, IFS is dedicated to investing in the Sri Lankan technology landscape. Together with Hatch’s record in purpose driven open innovation in Sri Lanka and IFS’s support, ChallengerX is the perfect environment for collaboration, success, and innovation.

Taking advantage of the exceptional network in Sri Lanka, the ChallengerX Program will look at enhancing IFS’s Field Service Management Tool (WISE) capabilities. The What If Scenario Explorer (WISE) is used for forecasting resource requirements or KPIs for different business scenarios for organisations with a service-oriented mobile workforce. The Incubator will focus on improving Predictive Modelling systems capable of minimising supply chain damage in the service industry caused by unforeseen circumstances, such as natural disasters.

IFS Sri Lanka Executive Vice President and Chief Operating Officer Ranil Rajapakse said: “As one of the largest IT companies in Sri Lanka we wanted to be part of this, we felt that we had a duty as well to invest in this thriving tech ecosystem. So to do that, we saw some good synergies between IFS and Hatch to work on a common set of problems and build solutions.”

“At IFS, we have admired the work of the Hatch team for a long time. Like IFS, Hatch is committed to investing in Sri Lankan technology and visualises the country’s potential to be a leader in innovation. We have continued to work closely with many universities in Sri Lanka, and the quality of graduates is world-class. The partnership with Hatch is an excellent opportunity for us to demonstrate to the world what is possible,” Rajapakse said.

“IFS is one of the largest technology providers in Sri Lanka.

As such, we have the capacity and interest to foster growth and talent in their ecosystem. We hope the Incubator will encourage a new network of young and existing talent to see the possibilities within technology, whilst also giving the opportunity and guidance for budding entrepreneurs to incubate their ideas into an MVP and subsequently make them a reality,” he added.

At the peak of advancements in technology and data science, predictive analytics has emerged as helpful and wholly necessary for data mining techniques enabling organisations to extract predictive outcomes based on the current data available to them.

The problem statement we have derived is centred on this and how we can identify, test, and solve real-world problems to maximise profit, minimise risk, and create lasting impact.

Hatch Co-Founder Jeevan Gnanam said: “We wanted to do something very new and disruptive and create a new paradigm in open innovation in Sri Lanka. That is why we wanted to create Sri Lanka’s first AI-Machine Learning Accelerator.”

ChallengerX will be a six-month residency at Hatch, which has made its mark as the world’s best coworking space in 2021 at the Global Start-up Awards. This residency will provide the ChallengerX finalists with access to events and membership benefits at Hatch, where they will also be mentored by international experts from Hatch and the IFS mentor pool.

The program is looking for teams consisting of Artificial Intelligence and Machine Learning enthusiasts, UX Designers and SEs, Web front-end developers (Front-End heavy), Backend developers for the server, Individuals experienced in building on spatial databases, large-scale spatial maps, and GIS and those with development experience with open-source geospatial software or ESRI is preferred.

The ChallengerX teams with the best solutions will stand to win from a stipend and prize pool of Rs. 3,000,000 along with other exciting benefits. Deadline for applications: 24 October 2022.

If you or your team are skilled at problem-solving and can provide a real-world problem with an innovative and value-adding solution, visit the website to apply: https://ifs-challengerx.hatch.lk/.