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On Monday, Google introduced the launch of its AI Futures Fund, a brand new initiative that seeks to spend money on startups which can be constructing with the most recent AI instruments from Google DeepMind, the corporate’s AI R&D lab.
The fund will again startups from seed to late stage and can provide various levels of help, together with permitting founders to have early entry to Google AI fashions from DeepMind, the power to work with Google consultants from DeepMind and Google Labs, and Google Cloud credit. Some startups may also have the chance to obtain direct funding from Google.
“The AI Futures Fund doesn’t comply with a batch or cohort mannequin,” a Google spokesperson instructed Trendster. “As an alternative, we contemplate alternatives on a rolling foundation —there’s no mounted utility window or deadline. Once we come throughout firms that align with the fund’s thesis, we could select to speculate. We’re not saying a selected fund dimension right now, and verify sizes range primarily based on the corporate’s stage and wishes — usually early to mid-stage, with flexibility for later-stage alternatives as properly.”
AI Futures Fund already has some case research. Startups such because the meme-making platform Viggle and the webtoon app Toonsutra participated in this system.
Startups can apply right here beginning Might 12.
Google has been making large commitments over the previous few months to help the subsequent technology of AI expertise and scientific breakthroughs.
Final November, Google.org, the corporate’s charitable wing, introduced a $20 million money dedication to researchers and scientists working in AI. Earlier than that, in September, Google CEO Sundar Pichai introduced the corporate was making a $120 million International AI Alternative fund to assist carry AI training and coaching to extra locations the world over. Google.org additionally launched a $20 million generative AI accelerator program to chop checks to nonprofits creating AI tech.
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Google additionally has its Google for Startups Founders Funds, which helps founders from an array of industries and backgrounds constructing firms, together with AI firms. A spokesperson instructed Trendster in February that this yr, the fund would begin investing in AI-focused startups within the U.S., with extra info to come back at a later date.
