Google announces AI Futures Fund to support AI startups

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Google announced a new program called the AI Futures Fund, which aims to support startups that are using Google’s latest AI tools, especially those developed by its research division, Google DeepMind. 

The fund will help companies at different stages of growth, from brand-new startups to more established ones. 

What makes this fund special is the type of support it offers. Selected startups may get early access to Google’s AI models, guidance from top AI experts at Google DeepMind and Google Labs, and free credits to use Google Cloud, which helps them build and run their products. 

In some cases, Google may also invest money directly into these startups. Interested Startups can already start applying.

Unlike some programs that run on a fixed schedule or have specific application deadlines, the AI Futures Fund is more flexible. 

Google will review startup opportunities as they come, without set dates. 

They’re not saying how much total money is in the fund or how much each company might receive, but the focus will mostly be on early to mid-stage companies, with some room for bigger, later-stage ones too.

There are already some examples of startups working with the fund. Two early participants include Viggle, an app for creating memes using AI, and Toonsutra, a webtoon (digital comic).

In the past few months, Google has made several major investments in this area. For example, its charitable branch, Google.org, pledged $20 million to support researchers working on AI. (Via: Tech Crunch)

Google also created a $120 million Global AI Opportunity Fund to make AI education more widely available and announced another $20 million fund to help nonprofits working on AI projects.

Google also runs other startup support programs like the Google for Startups Founders Funds, which recently shifted some of its focus to AI startups in the US.

What are your thoughts on this initiative from Google? Do you think it should have a fund for all the publications it’s killing with its search changes? We want to hear from you below in the comments, or via our Twitter or Facebook.