Google Funds AI Startups With New Initiative
▼ Summary
– Google launched the AI Futures Fund to invest in startups using Google DeepMind’s AI tools, offering support like early model access and Google Cloud credits.
– The fund invests in startups at all stages, with no fixed application window or deadline, and check sizes vary based on company needs.
– Early participants in the program include Viggle (meme platform) and Toonsutra (webtoon app), with applications opening May 12.
– Google has made multiple AI-focused commitments, including a $20M research fund, a $120M global AI education fund, and a $20M nonprofit AI accelerator.
– Google for Startups Founders Funds will also invest in AI-focused U.S. startups this year, with details to be announced later.
Google is doubling down on AI innovation with a new funding initiative designed to propel cutting-edge startups forward. The tech giant recently unveiled its AI Futures Fund, a flexible investment program offering financial backing and technical resources to emerging companies leveraging Google DeepMind’s advanced artificial intelligence technologies.
Unlike traditional accelerator programs, this initiative operates on an ongoing basis rather than fixed cohorts. Startups at any development phase—from seed stage to more mature ventures—can qualify for support. Selected participants gain exclusive early access to Google’s AI models, direct collaboration with DeepMind and Google Labs specialists, and valuable Google Cloud credits. Some may even secure direct capital injections from Google itself.
A company representative emphasized the fund’s adaptable nature: “We evaluate opportunities continuously rather than through rigid application cycles. Investment amounts vary depending on each startup’s requirements, though we primarily focus on early to mid-stage companies with room for later-stage exceptions.”
Several startups have already benefited from the program, including Viggle, a platform for AI-generated memes, and Toonsutra, a webtoon creation app. Applications open on May 12 for entrepreneurs eager to tap into Google’s AI ecosystem.
This move reinforces Google’s broader strategy to nurture AI advancement. Late last year, Google.org committed $20 million to AI researchers, followed by CEO Sundar Pichai’s announcement of a $120 million Global AI Opportunity Fund aimed at expanding AI education worldwide. The philanthropic arm also rolled out a $20 million accelerator specifically for nonprofits developing generative AI solutions.
Separately, Google’s Startups Founders Funds continues to back diverse founders across industries, with plans to expand its focus on U.S.-based AI ventures later this year. By combining financial support with hands-on expertise, Google aims to solidify its position at the forefront of AI-driven innovation.
(Source: TechCrunch)
