Four Indian firms in WEF's 100 most promising tech startups list

The World Economic Forum (WEF) on Wednesday named four Indian entities, including Giftolexia Solutions and Xacmaz Technology, in its annual list of 100 most promising technology pioneers, comprising companies making progress in sustainability, advanced manufacturing and inclusive healthcare.

This year's Technology Pioneer cohort includes startups from 31 economies, with a third led by a woman chief executive. Image Courtesy:Reuters.

The World Economic Forum (WEF) on Wednesday named four Indian entities, including Giftolexia Solutions and Xacmaz Technology, in its annual list of 100 most promising technology pioneers, comprising companies making progress in sustainability, advanced manufacturing and inclusive healthcare.

The other two Indian entities on the list are evolutionQ, which offers quantum-safe cybersecurity products to help clients in deploying and managing quantum technologies across their networks, and Next Big Innovation Labs – which is developing customisable 3D bioprinter to bridge the gap between organ demand and availability via 3D bioengineered organs.

Giftolexia Solutions is developing a deep technology-enabled screening tool to identify the risk of dyslexia in schoolchildren by analysing gaze patterns. Xacmaz Technology is developing a platform that converts satellite data into climate intelligence for climate risk, ESG (environmental, social and governance) investing and carbon markets.

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The global list also includes Farmerline (Ghana), which connects farmers, agribusinesses and governments to form an end-to-end and holistic solution to the sector's challenges. In Israel, Electriq Global is pioneering new methods of separating hydrogen from water to create a renewable energy alternative to fuel. CarbonCapture, from the United States, is removing CO2 from the atmosphere via direct air capture technologies.

"The 2023 cohort of Technology Pioneers is already bringing great changes to industries around the world. Selectees are at the forefront of innovation and disruption needed to help us solve the world's most pressing issues," said Verena Kuhn, Head of Innovator Communities at the WEF.

This year's Technology Pioneer cohort includes startups from 31 economies, with a third led by a woman chief executive. The US has the highest representation, with 29 companies, followed by China with 12.

US-based ClimateAI applies artificial intelligence to climate risk modelling, and its platform provides short- and long-term insights into weather and climate impact.

Based in Switzerland, Transmutex aims to develop a non-self-sustaining chain reaction nuclear energy system able to produce carbon-free energy with the highest safety profile. Meanwhile, Huue, in the US, is using biotechnology to create sustainable dyes to reduce the use of chemicals in fashion supply chains.

M20 Genomics, based in China, is developing single-cell sequencing technology to effectively diagnose diseases and provide relevant treatment. Dot, in the Republic of Korea, is a pioneer in smart technology for the vision-impaired and the deaf-blind, helping them to lead more independent lives.

Boston Materials, based in the US, develops advanced materials that are lightweight, corrosion-resistant and have energy-diffusion capabilities. Monolith, based in the UK, empowers engineering domain experts in various industries to reduce expensive, time-intensive testing and cut product development time.

Following their selection as Technology Pioneers, this year's companies will join a group of alumni that include many household names, such as Airbnb, Google, Kickstarter, Mozilla, Spotify, TransferWise, Twitter and Wikimedia.

Launched in 2000, the Technology Pioneers community is composed of early-stage companies from around the world that are involved in the design, development and deployment of new technologies and innovations and are poised to have a significant impact on business and society.

The WEF provides the community with a platform to engage with public and private sector leaders and to contribute new solutions to overcome the current crisis and build future resiliency.

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