On Monday, Google introduced the launch of its AI Futures Fund, a brand new initiative that seeks to put money into startups which are constructing with the seismic shift AI instruments from Google DeepMind, the corporate’s AI R&D lab.
The fund will again startups from seed to late stage and can supply 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 will even 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 informed TechCrunch. “As an alternative, we contemplate alternatives on a rolling foundation — there’s no fastened utility window or deadline. After we come throughout corporations that align with the fund’s thesis, we could select to speculate. We’re not saying a selected fund dimension at the moment, and verify sizes range based mostly on the corporate’s stage and wishes — sometimes 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 here beginning Could 12.
Google has been making huge commitments over the previous few months to help the following technology of AI expertise and scientific breakthroughs.
Final November, Google.org, the corporate’s charitable wing, announced 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 creating a $120 million Global AI Opportunity fund to assist convey AI training and coaching to extra locations all over the world. Google.org also launched a $20 million generative AI accelerator program to chop checks to nonprofits creating AI tech.
Google additionally has its Google for Startups Founders Funds, which helps founders from an array of industries and backgrounds constructing corporations, together with AI corporations. A spokesperson informed TechCrunch in February that this yr, the fund would begin investing in AI-focused startups within the U.S., with extra data to come back at a later date.