· MoU for an Educational Program under the Ministry of Education in India
· Deepspatial to Help Improve Educational Parameters for Students
· Marks Entry in Public Education Sector, a vast business opportunity for Deepspatial
TORONTO- Deepspatial Inc. (CSE:DSAI) (OTCQB:DSAIF) (“Deepspatial” or the “Company”), an outcome based artificial intelligence company, enabling organizations to enhance their decision making capabilities by leveraging the power of data and AI, today announced a Memorandum of Understanding (MoU) with a Government of India Educational Program under the Ministry of Education in one of the States with the outcome of improving the quality and access to education while enabling schools to better prepare students for rewarding career paths.
India’s improved education system is often cited as one of the main contributors to its economic development. While enrolment in higher education has increased steadily over the past decade, there remains a significant challenge with secondary and tertiary education in Rural and Semi Urban areas of the developing world. The global elementary and secondary schools market size is expected to grow from $1343.61 billion in 2021 to $1488.80 billion in 2022 at a compound annual growth rate (CAGR) of 10.8%.1 This represents a vast consumer base and business opportunity in the education sector.
Deepspatial will be working closely with the officials of the flagship program under the Ministry of Education to identify key areas of opportunity for improving access to education and ensure students are prepared for higher education from the State.Throughout the discovery process, Deepspatial may provide additional services if deemed suitable and valuable to the underlying outcomes, which may lead to further commercial contracts.
“Marking our entry into the education sector in India is an important milestone for Deepspatial. More importantly, the socio-economic impact we hope to have on the students, its citizens and the future generations is what excites us most. By bringing our Geospatial AI solutions to the education sector, we’ll be the first company of our nature to do so. Furthermore, the solutions Deepspatial will be providing are addressing an unmet need in education which on a global scale positions Deepspatial for significant growth bringing long-term valuefor our shareholders.” Said Dr. Rahul Kushwah, CEO of Deepspatial.
Dr.Kushwah appeared on Proactive Media for an interview accompanying this press release:
About Deepspatial Inc.
Deepspatial is an outcome based artificial intelligence company,enabling organizations to enhance their decision-making capabilities by leveraging the power of data and AI. From finding the most efficient supply chain routes to knowing where to develop next, Deepspatial’s AI-driven platform enables its clients to visualize what’s going on, predict what’s coming,analyze data, and optimize processes to make smarter decisions for a better future. For more information, visit www.Deepspatial.ai and follow us on Twitter, Instagram or LinkedIn.
Caution regarding Forward LookingInformation:
THE CANADIAN SECURITIES EXCHANG EHAS NOT REVIEWED NOR DOES IT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release may containforward-looking statements and information based on current expectations. Thesestatements should not be read as guarantees of future performance or results ofthe Company. Such statements involve known and unknown risks, uncertainties andother factors that may cause actual results, performance or achievements to bematerially different from those implied by such statements. Although suchstatements are based on management's reasonable assumptions, there can be noassurance that such assumptions will prove to be correct. We assume noresponsibility to update or revise them to reflect new events or circumstances.The Company's securities have not been registered under the U.S. Securities Actof 1933, as amended (the "U.S. Securities Act"), or applicable statesecurities laws, and may not be offered or sold to, or for the account orbenefit of, persons in the United States or "U.S. Persons", as such termis defined in Regulations under the U.S. Securities Act, absent registration oran applicable exemption from such registration requirements. This press releaseshall not constitute an offer to sell or the solicitation of an offer to buynor shall there be any sale of the securities in the United States or anyjurisdiction in which such offer, solicitation or sale would be unlawful.Additionally, there are known and unknown risk factors which could cause theCompany's actual results, performance or achievements to be materiallydifferent from any future results, performance or achievements expressed orimplied by the forward-looking information contained herein, such as, but notlimited to dependence on obtaining regulatory approvals; the ability to obtainintellectual property rights related to its technology; limited operatinghistory; general business, economic, competitive, political, regulatory andsocial uncertainties, and in particular, uncertainties related toCOVID-19;risks related to factors beyond the control of the company, includingrisks related to COVID-19; risks related to the Company's shares, includingprice volatility due to events that may or may not be within such party'scontrol; reliance on management; and the emergency of additional competitors inthe industry.
All forward-looking informationherein is qualified in its entirety by this cautionary statement, and theCompany disclaims any obligation to revise or update any such forward-lookinginformation or to publicly announce the result of any revisions to any of theforward-looking information contained herein to reflect future results, eventsor developments, except required by law.
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