Amazon Web Services (AWS) has launched a $230 million fund to support startups globally in accelerating the creation of generative AI applications. The fund will provide AWS credits, mentorship, and education to early-stage companies utilizing artificial intelligence (AI) and machine learning (ML) technologies. Part of the commitment will fund the second cohort of the AWS Generative AI Accelerator, offering hands-on expertise and up to $1 million in credits to top early-stage startups.
Startups can apply for the AWS Generative AI Accelerator until July 19, 2024, with a focus on using generative AI to address challenges in various sectors such as finance, healthcare, media, and climate change. Selected startups will receive training sessions, mentorship, and access to up to $1 million in AWS credits. The program, in partnership with NVIDIA, aims to nurture cutting-edge startups and provide industry expertise.
This initiative aligns with recent trends of tech giants investing in AI startups. Visa, Toyota Ventures, and Amazon have all announced significant funds for AI ventures and startups developing disruptive technologies.