Google has launched the AI Futures Fund to invest in startups utilizing AI tools from Google DeepMind, offering support from early access to Google resources to potential direct investments. Applications for startups will open on May 12, and the fund operates on a rolling basis without fixed deadlines. This initiative is part of a broader commitment by Google to advance AI talent and education.
On Monday, Google unveiled its latest initiative—the AI Futures Fund. The goal? To support startups pioneering in the world of AI using cutting-edge tools developed by Google DeepMind, the company’s research and development facility. The fund targets a broad range of startups, from the seed stage all the way to late-stage ventures, and offers various support options.
Founders engaging with the AI Futures Fund will get some nice perks. That includes early access to Google’s advanced AI models and beneficial connections with Google experts from DeepMind and Google Labs. Notably, startups could even snag direct investments from Google itself, presenting them with a plethora of resources to fuel their growth.
In a conversation with TechCrunch, a Google rep explained that the fund doesn’t stick to a traditional batch model. “The AI Futures Fund doesn’t follow a batch or cohort model,” the spokesperson shared, emphasizing a flexible, ongoing application process. There’s no set deadline to apply. When opportunities arise that fit the fund’s vision, investments may follow, with funding amounts varying according to a company’s growth stage and specific needs.
Interestingly, the AI Futures Fund isn’t starting from scratch. It has some initial case studies to showcase. Startups like Viggle, a platform for meme-making, and Toonsutra, a webtoon app, are already part of this program, possibly giving a taste of what’s to come.
For those interested, applications open on May 12. This launch is just the latest in Google’s recent efforts to foster emerging talent and spur scientific advancements in AI.
Last November, Google.org, the charitable arm of the tech giant, put forth a $20 million cash commitment aimed at encouraging researchers in the AI space. Earlier that year, in September, Google CEO Sundar Pichai announced an even heftier $120 million Global AI Opportunity Fund, set to help spread AI education and training across the globe. The organization also kicked off a $20 million generative AI accelerator program to support nonprofits venturing into AI technology.
Additionally, Google’s portfolio includes the Google for Startups Founders Funds, designed to assist founders across various industries—including, of course, AI-focused companies. Back in February, a spokesperson disclosed plans to channel investments specifically into AI startups within the U.S. as the year unfolds, with more details expected down the line.
Exciting times are ahead for startups. There’s also an opportunity to join the conversation at the upcoming TechCrunch Sessions: AI event featuring industry speakers from top AI firms like OpenAI and Anthropic—tickets currently going for just $292! For those looking to showcase their innovations and connect with decision-makers, exhibit space is available too, but don’t wait too long—tables might fill up fast.
With these ambitious moves, it seems Google is positioning itself as a crucial player in shaping the future of artificial intelligence expertise and innovation.
In short, Google’s AI Futures Fund stands as a noteworthy initiative aimed at supporting upcoming startups in the AI sector. By providing varied support, from access to advanced AI models to potential direct investments, the fund promises to help nurture the next wave of innovation in artificial intelligence. It’s part of broader commitments from Google to foster AI talent and education, marking a concerted effort to solidify its role in the evolving landscape of technology.
Original Source: techcrunch.com
