On Monday, Google introduced the launch of its AI Futures Fund, a brand new initiative that seeks to spend money on startups which might be constructing with the newest 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 flexibility to work with Google specialists 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 observe a batch or cohort mannequin,” a Google spokesperson instructed TechCrunch. “Instead, we think about alternatives on a rolling foundation — there’s no fastened utility window or deadline. When we come throughout corporations that align with the fund’s thesis, we might select to speculate. We’re not saying a particular fund dimension right now, and verify sizes differ 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 right here beginning May 12.
Google has been making massive commitments over the previous few months to help the subsequent technology of AI expertise and scientific breakthroughs.
Last November, Google.org, the corporate’s charitable wing, introduced a $20 million money dedication to researchers and scientists working in AI. Before that, in September, Google CEO Sundar Pichai introduced the corporate was making a $120 million Global AI Opportunity fund to assist convey AI schooling and coaching to extra locations world wide. Google.org additionally launched a $20 million generative AI accelerator program to chop checks to nonprofits growing 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 instructed TechCrunch in February that this 12 months, the fund would begin investing in AI-focused startups within the U.S., with extra info to come back at a later date.
