Binny Bansal, in partnership with Plaksha University, has launched the ‘Binny Bansal Institute for Inventing the Future’ (IIF). | AP Photo
The maverick credited as an e-commerce pioneer and founder of Flipkart has taken the next big leap. His mission: To create the perfect blend of industry and learning, technology and research, funding and futuristic vision.
Binny Bansal, in partnership with Plaksha University, has launched the ‘Binny Bansal Institute for Inventing the Future’ (IIF). The Institute will focus on developing innovative solutions to address global challenges using frontier technologies, such as AI, blockchain, and robotics.
Plaksha, based in Mohali, was founded by a global community of more than 100 technology and business leaders. It envisions reimagining technology education and research for India and the world, and promoting interdisciplinary learning by combining technology, design and entrepreneurship. The University is backed by partnerships with UC Berkeley, Purdue, UC San Diego, UPenn, IIT Kanpur and IISc Bangalore.
Bansal has provided start-up funding of ₹70 crore. With the best of talent and resources, the Institute will continue to establish Plaksha University as a hub for the next generation of technology leaders.
As for specifics, a press release from the University says IIF will further Plaksha’s commitment to frontier technologies. This will include:
* Leveraging AI+x to address challenges in sectors such as healthcare, agriculture, energy, and environmental sustainability.
* Fostering collaborations between academia and industry, allowing for the commercialization of innovative ideas.
* Transforming research findings into scalable, real-world applications that address both local and global challenges.
* Fostering AI talent in India and addressing the gap in AI expertise.
IIF will also leverage Plaksha’s long-standing partnership with the University of California, Berkeley. It will collaborate with Berkeley Artificial Intelligence Research (BAIR) Lab on joint research projects, faculty and student exchanges, and best practices in AI education and research methodologies.
After co-founding and exiting Flipkart, Binny Bansal has emerged as co-founder and advisor to many ventures including xto10x, Udhyam Learning Foundation, Three State Ventures, 2GUD and 021 Capital. Ever a believer in the role of technology in solving real-world problems, Mr. Bansal says. “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.”
It can be said that the intent of the Institute and the personality attributes of its mentor are but two sides of the same coin. To validate this viewpoint, let us understand how and why Binny Bansal became a name to reckon with in e-commerce.
Rewind to unicorn
After completing his graduation from the Indian Institute of Technology, Mr. Bansal worked with Amazon. The tenure was his first exposure to e-commerce. Next, he co-founded Flipkart along with Sachin Bansal.
Their start-up capital was around ₹ 6 lakh. Flipkart scaled to a peak valuation of ₹20.8 billion and went on to symbolize the millions that founders and stakeholders can make from internet entrepreneurship. The company was acquired by Walmart in 2021 (the US retail giant paid $16 billion for an initial stake of approximately 77%).
The investment at that time was the largest transaction in the history of online retail space. With a track record and trajectory that ranks on par with global success stories, it is easy to understand why Plaksha University decided to name their newly-launched academic venture after Binny Bansal.
Fast forward to future
Prof. Shankar Sastry, Founding Chancellor of Plaksha University and Thomas Siebel Distinguished Professor of Computer Science at UC Berkeley notes that “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.
“In addition, 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.”
If your interest area is beyond the traditional boundaries of engineering, if you prefer a blend of technology, design and entrepreneurship, it’s time to embark on interdisciplinary learning at the IIF.
(The writer is a former journalist and advertising professional now serving as mentor and advisor in the SaaS space)
Published – April 08, 2025 05:18 pm IST
