Amazon Launches AI Accelerator Program for Generative Startups with $300K AWS Credits

Amazon Launches AI Accelerator Program for Generative Startups with $300K AWS Credits

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Tech giant Amazon has announced its latest venture, an accelerator program for generative artificial intelligence (AI) startups. The program, led by Amazon Web Services (AWS), will run for 10 weeks and will offer access to AI models and tools, machine learning stack optimization, and custom go-to-market advice for accepted startups. Applicants have two weeks to apply, and AWS will select 10 startups to participate. In addition to offering resources and support, AWS will also provide up to $300,000 in credits to help build the companies.

AWS Offers Generative AI Startups Valuable Resources and Support

While AWS is open to all startups, Global Head of Startups Howard Wright stated in a blog post that startups with a minimum viable product, traction with customers, and are working on product value propositions, as well as those already building on AWS, will receive the most benefit. Though AWS will not invest in startups and does not yet have an AI/ML investment arm, the company’s latest accelerator program for generative AI is another way to support and invest in the growing technology.

AWS’ Global Head of AI/ML Startups, Rob Ferguson, expressed excitement about the potential for generative AI, which has unlocked new developments and creativity. Ferguson told TechCrunch, “Artificial intelligence and machine learning are some of the most transformative technologies of our generation, and have been a main focus area for Amazon for more than 20 years… [we’re] excited about what next big thing we can help power through the cloud.”

Amazon’s First AI Accelerator Focused on Conversational AI

This is not Amazon’s first foray into accelerator programs. In 2016, the company launched its first accelerator program focused on conversational AI. Since then, Amazon has continued to invest in AI and machine learning, developing its own technology and acquiring AI startups like Graphiq and Orbeus. With its latest accelerator program for generative AI, Amazon aims to invest and innovate across three layers of the generative AI stack to make the technology more widely available.

Generative AI is a type of machine learning that involves creating something new, such as images, videos, or music, based on existing data. This technology has been used in various industries, including gaming, music, and art. The ability to create new content with generative AI has unlocked new opportunities for innovation and creativity.

Demo Day in San Francisco

Accepted startups will also have the opportunity to showcase their technology at a Demo Day in San Francisco at the end of the program. This will allow the startups to pitch their products and ideas to potential investors and customers, providing valuable exposure and networking opportunities.

As AI and machine learning continue to transform various industries, it’s no surprise that Amazon is investing in generative AI startups. With its latest accelerator program, AWS is offering valuable resources and support to startups working at the forefront of AI technology. And who knows what groundbreaking new developments and creations will emerge as a result?

Read also: Amazon to Slash 9,000 Jobs in Cost-Saving Move