AWS invests $100 million in new generative AI program
Upon completing the accelerator programme, the top 15 fintech startups will be invited to present their products and services to a list of potential investors and customers on a Demo Day, receiving up to US$75,000 in additional AWS Activate credits. Announced today, AWS has created a 10-week program for generative AI startups around the globe. Generative AI startup founders within the cohort can expect to have access to AI models and tools as well as machine learning stack optimization and custom go-to-market advice. The selected startups will also network with investors and potential customers, and receive $300,000 in AWS credits to build their products.
« Generative AI is one of those game-changing tech innovations that will rapidly redefine how we work across a variety of industries, » said Howard Wright, Vice President and Global Head of Startups at AWS. « The startup community will be the driving force moving these innovations forward. We’re excited to welcome the most promising companies in this space and to provide them with access to the tools and mentors they need to make their ideas a reality. » AWS is ideally looking for startups who already have an MVP developed and are seeking seed funding within the next year and a half. It will also consider machine learning startups who are already using cloud technology or plan to. At the end of the program, the startups will pitch there products at the Demo Day to investors, customers and the press, with the purpose of raising awareness for their business. Runway, one of AWS’ startup customers, harnessed the power of AI tools to develop Gen-2, a multimodal AI system that can create unique videos using text, images, or video clips.
AWS launches global generative AI accelerator for startups
Over the past week, several ransomware incidents illustrated the dilemmas a company faces once they fall vict… In other news, Twitter has been making headlines with Elon Musk’s month-by-month rundown, from layoffs to verification drama. Virgin Orbit has filed for bankruptcy following a pause on all operations, a brief hunt for more money to continue as a going concern, and massive layoffs. Laura Tortorella will join Yakov Livshits Dallas-based AccentCare, one of the largest and highest quality post-acute healthcare providers in the nation, as CEO on October 2. Investor and tech pioneer Steve Case, best known as the co-founder and former CEO of AOL, made this call to action yesterday while visiting North Texas at Dallas Startup Week in Frisco…. Steve Case
Chairman and CEO
.…on stepping up the North Texas startup community.
Anthropic raised $450 million in a Series C funding round, receiving support from Google, Salesforce and Zoom, the company announced Tuesday. “Our approach to generative AI is to invest and innovate across three layers of the generative AI stack to take this technology out of the realm of research and make it available to customers of any size and developers of all skill levels,” he said. His coverage also focuses on the usage habits of technology in both personal and professional settings – particularly its relation to social and cultural issues – and revels in uncovering stories that might not otherwise see the light of day. The Generative AI market is currently led by Microsoft-owned OpenAI via ChatGPT and AI-powered Bing Search, with Google trying hard to disrupt the space with its AI service called Bard. Esther Ajao is a news writer covering artificial intelligence software and systems. « We can only see and imagine what our customers are going to do with this technology, » Elaprolu said.
Amid calls for an industry pause on AI large language model (LLM) development, AWS has launched a program to boost generative AI startups. Dallas-based LPA Design Studios has added industry veteran John Hoenig as managing director of structural engineering, guiding structural design across civic, education, science and technology, healthcare, and commercial projects. “We want to empower companies applying generative AI to solutions from legal and marketing, to software engineering, green energy, and life sciences, including drug discovery,” Wright said.
Runway, one of AWS’ startup customers, collaborated with AWS and Nvidia to create Gen-2, a multimodal AI system that can create unique videos with text, images, or video clips using the power of AI tools. Runway’s AI Magic Tools are being used in the filmmaking industry, and notably used in the Oscar-winning picture, « Everything, Everywhere, All At Once. » We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work.
Prices for all other start-ups raising a Series A or Series B have fallen by nearly 24%.
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A prolific businessman and investor, and the founder of several large companies in Israel, the USA and the UAE, Yakov’s corporation comprises over 2,000 employees all over the world. He graduated from the University of Oxford in the UK and Technion in Israel, before moving on to study complex systems science at NECSI in the USA. Yakov has a Masters in Software Development.
The Yakov Livshits is geared toward the best startups in the industry that need AWS’ resources to take their ideas to the next level. AWS will provide selected startups with a number of tools to grow their company, like access to AI models, market strategies, and machine learning stack optimization. Noah Schwartz –
Ordaos, a drug design company, was selected for the AWS Generative AI Accelerator.
The company should have game-changing ambitions in the Generative AI space and the company is ready to support them. Additionally, the program provides guidance on best practices for applying generative AI responsibly and optimizing machine learning operations to reduce costs. For cloud providers, running a startup program creates opportunities to partner with companies that could become major customers down the road.
The company has announced a kick-off event in-person in the San Francisco Bay Area in the US from May and a Demo day on July to showcase the progress of its AI accelerator. As per a recent McKinsey report, generative AI holds the potential to add a staggering $4.4 trillion to the global economy annually. The entire AI industry is estimated to touch the sky-high figure of $15.7 trillion by 2030, underscoring the colossal economic value of these technologies. AWS said it is also working with healthcare, life sciences, and other media and entertainment industry customers to show how generative AI applies to their use cases. This large scale — exemplified by applications such as high-volume customer service contact centers — means that enterprises are relying more and more on hyperscalers such as AWS, Google and Microsoft to help them apply generative AI to their business processes.
Ten companies will be selected from the applications that are accepted for the following two weeks, the company said. « We welcome machine learning startups with technical leads who are leveraging cloud technologies, or who plan to. If you have game-changing ambitions in the Generative AI space, we want to support you, » the company informed. Once completition of the 10-week program AWS Generative AI Accelerator programme participants can pitch to the Generative AI community – including investors, press and customers – to raise awareness for their company. As per AWS announcement, the company welcomes machine learning startups with technical leads who are leveraging cloud technologies, or who plan to.
Participating startups receive $300K in AWS credit to help develop and run their genAI models. Techzine focusses on IT professionals and business decision makers by publishing the latest IT news and background stories. The goal is to help IT professionals get acquainted with new innovative products and services, but also to offer in-depth information to help them understand products and services better. Startups should have a minimal viable product (MVP) already developed, have some traction with customers, and be working to enhance their product value proposition in order to scale, Wright added. AWS is accepting applications for a new 10-week program designed to take some of the most promising generative AI startups around the world to the next level. The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.
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Elaprolu also provided a glimpse into the future participants in the Generative AI Innovation Center program. Initially, AWS plans to prioritize customers who have demonstrated interest in generative AI. The program will focus on sectors such as financial services, healthcare, life sciences, media and entertainment, automotive, energy, utilities, and telecommunications. AWS is investing $100 million in the program, which offers workshops, engagements and training to help customers design and launch new generative AI products, services and processes. The startups selected for its first cohort are aiming to solve challenges like healthcare burnout, illiteracy, and streamlining tedious employee tasks.
- However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting.
- For the startups selected to participate, the program will kick off the same day.
- The accelerator is a mentorship program for companies working with generative artificial intelligence.
- The chosen 10 will embark on the program from May 24 to July 27, 2023, which will mainly take place online.
- Y Combinator’s Winter 2023 batch features four startups that claim to be trying to build “ChatGPT for X,” indicating that the hype around OpenAI’s viral AI-powered chatbot hasn’t peaked yet.
- Anthropic raised $450 million in a Series C funding round, receiving support from Google, Salesforce and Zoom, the company announced Tuesday.
It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. The program is open to companies around the globe, with no limitations around use case. “We want to empower companies applying generative AI to solutions from legal and marketing, to software engineering, green energy, and life sciences, including drug discovery”, AWS adds.
AWS says that the program will be most beneficial for candidates who have a minimal viable product, a growing customer base, and are « working to enhance their product value proposition in order to scale. » The selected startups will also have the opportunity to network with investors and potential customers, as well as receive $300,000 in AWS credits to put towards building their products. AWS says the candidates that Yakov Livshits will receive the most benefit from the program should have a minimal viable product, a growing customer base, and « be working to enhance their product value proposition in order to scale. » This opportunity will support Ordaōs’ efforts to help biopharma partners to create better, safer, and more effective drugs, particularly in difficult-to-treat disease areas with patients who have limited treatment options.