Google has released the AI Futures Fund, a remarkable initiative aimed at supporting startups that are establishing state-of-the-art artificial intelligence (AI) tools from Google DeepMind, the platform’s AI research lab.
This robust fund is particularly designed to back startups at each stage from initial to late-stage, not only offering financial help, but exclusive advantages such as early access to the Alphabet-owned AI models from DeepMind.
Moreover, it offers the opportunity to partner directly with experts from DeepMind and Google Labs. And sometimes, direct investment from Google itself.
According to the company, “The AI Futures Fund doesn’t follow a batch or cohort model.”
Unlike traditional accelerator programs, the fund operates without fixed application windows or cohorts, considering startups on a rolling basis. Google has yet to reveal a set fund size, and investment amounts vary depending on a startup’s requirements.
Some early beneficiaries include Viggle, a meme-making platform, and Toonsutra, a webtoon app, which started from May 12.
Google’s rising commitment to AI technology
Google’s latest release aligns with the company’s wider strategy to lead the ongoing AI race. Recent efforts include:
In September, CEO Sundar Pichai launched a $120 million Global AI Opportunity fund, expanding access to AI education and training all across the globe.
Another $20 million initiative, the Generative AI Accelerator, is funding nonprofits building AI technologies for public good.