The resources will help the next generation of startups supercharge the development of new generative AI applications and bring innovations to market faster
The AWS Generative AI Accelerator Program will scale 80 early-stage startups from around the world that are using generative AI to solve complex challenges
Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. (NASDAQ: AMZN) company, today announced a $$ 230 million investment to accelerate the creation of generative AI applications. This will provide startups, especially early-stage companies, with AWS credits, mentorship, and training to promote the use of artificial intelligence (AI) and machine learning (ML). Part of the new commitment will finance the second group of AWS Generative AI Accelerator, a program that offers hands-on experience and up to US$ 1 million in credits to 80 early-stage startups that are using generative AI to solve complex challenges. Applications for the global program open today and will be accepted until July 19th. Startups can apply on here.
“For over 18 years, AWS has helped more startups build, launch, and scale than any other cloud provider – it's no coincidence that 96% of all AI/ML unicorns run on AWS,” said Matt Wood, Vice President of Artificial Intelligence Products at AWS. “With this new effort, we will help startups launch and scale world-class businesses by providing the building blocks needed to unleash new AI applications that will impact every aspect of how we learn, connect and do business.”
AWS website
Interested startups can learn more about how to access these funds on here. Startups can use AWS Credits to access AWS compute, storage, and database technologies, as well as AWS Trainium it's the AWS Inferentia2, which are energy-efficient AI chips that deliver high performance at the lowest cost. These credits can also be used in Amazon SageMaker Jumpstart, a fully managed service that helps companies create and train their own FMs, as well as templates and tools to easily and securely create generative AI applications through Amazon Bedrock.
The AWS Generative AI Accelerator continues to launch successful startups
The AWS Generative AI Accelerator identifies top early-stage startups that are using generative AI to solve complex challenges in areas such as financial services, healthcare and life sciences, media and entertainment, business, and climate change. Attendees will have access to sessions on ML performance improvement, stack optimization, and go-to-market strategies. During the 10-week program, participants will be matched with technical and business mentors based on their industry vertical and receive up to US$ 1 million in AWS credits to help them build, train, test, and launch their generative AI solutions . They will also have access to industry experts and technology from NVIDIA, the show's presenting partner, and will be invited to participate in the show NVIDIA Inception, designed to stimulate cutting-edge startups.
AWS will announce the startups selected for the second group on September 10, 2024, and the program will begin on October 1, 2024, with in-person sessions at Amazon HQ1 in Seattle, WA, USA. All 80 participating startups will be invited to attend and participate in activities, including presenting their solutions to potential investors, customers, partners, and AWS leaders in December at AWS re:Invent 2024 in Las Vegas.
“AWS has been instrumental in enabling us to scale our generative AI platform to meet the growing demand of our global user community. Its robust generative AI infrastructure helped us reduce inference costs by 60% and accelerate our language model inference speed by up to 35%,” highlighted Jachin Bhasme, co-founder and COO of Leonardo.AI, a powerful toolset of generative AI for creators and one of 21 startups to participate in the first group of the program. “The accelerator was also an incredible experience for us, the commercial and technical guidance we received and the connections we made played a crucial role in defining our product and strategy.”
“AWS has the right combination of technology and network of partners and prospects in the life sciences space that made it best suited to support our vision of building the next generation of AI models for drug discovery,” said Nima Alidoust, Ph.D., CEO and co-founder of Vevo Therapeutics, an AI-driven biotechnology startup building the world's first platform to generate high-resolution, single-cell in vivo data at scale. “Participating in the AWS Generative AI Accelerator program has provided us with valuable opportunities to tap into this community and leverage AWS infrastructure and expertise in training and developing scaling models.”
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