Amazon Web Services announces $230 million commitment for AI start-ups
Applications for the AWS Generative AI Accelerator will be accepted until July 19. The program provides hands-on expertise and up to $1 million in credits to each of 80 participants.
Amazon Web Services Inc. has announced a $230 million commitment for start-ups around the world to accelerate the creation of generative AI applications.
According to the announcement, this will provide start-ups, especially early stage companies, with AWS credits, mentorship, and education to further their use of artificial intelligence (AI) and machine learning (ML) technologies. Part of the new commitment will fund the second cohort of the AWS Generative AI Accelerator, a program that provides hands-on expertise and up to $1 million in credits to each of the top 80 early stage startups that are using generative AI to solve complex challenges. Applications for the AWS Generative AI Accelerator will be accepted until July 19. Start-ups can apply here.
AWS will announce selected start-ups for the second cohort on September 10, and the program will kick off on October 1 with in-person sessions at Amazon’s Seattle campus. All 80 participating start-ups will be invited to attend and showcase their solutions to potential investors, customers, partners, and AWS leaders in December at re:Invent 2024 in Las Vegas.
“For more than 18 years, AWS has helped more startups to build, launch, and scale their business than any other cloud provider—it’s no coincidence that 96 percent of all AI/ML unicorns run on AWS,” said Matt Wood, Vice President – Artificial Intelligence Products at AWS. “With this new effort, we will help start-ups launch and scale world-class businesses, providing the building blocks they need to unleash new AI applications that will impact all facets of how the world learns, connects, and does business.”
Interested start-ups can learn more about how to access these funds here. Start-ups can use AWS credits to access AWS compute, storage, and database technologies, as well as AWS Trainium and AWS Inferentia2, energy-efficient AI chips that offer high performance at the lowest cost. These credits can also be used on Amazon SageMaker, a fully managed service that helps companies build and train their own FMs, as well as to access models and tools to easily and securely build generative AI applications through Amazon Bedrock.
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