Google has introduced the AI Futures Fund, a new initiative aimed at investing in startups developing applications using the latest AI tools from Google DeepMind. The fund offers support ranging from seed to late-stage investments, providing selected startups with early access to Google AI models, collaboration opportunities with experts from DeepMind and Google Labs, and Google Cloud credits. Some startups may also receive direct financial investment from Google.
Unlike traditional accelerator programs, the AI Futures Fund operates on a rolling basis without fixed application deadlines. Google evaluates opportunities as they arise, focusing on companies that align with the fund’s objectives. The fund does not have a publicly disclosed size, and investment amounts vary based on the startup’s stage and requirements.
Early participants in the program include the meme-making platform Viggle and the webtoon app Toonsutra. Startups interested in applying can do so starting May 12.
This initiative is part of Google’s broader commitment to advancing AI development. In recent months, Google.org, the company’s philanthropic arm, announced a $20 million commitment to AI researchers and scientists. Additionally, Google CEO Sundar Pichai unveiled a $120 million Global AI Opportunity fund to expand AI education and training worldwide.Google.org also launched a $20 million generative AI accelerator program to support nonprofits developing AI technologies.
The AI Futures Fund complements Google’s existing support structures for startups, including the Google for Startups Founders Funds, which assists founders across various industries, including AI. Earlier this year, a spokesperson indicated plans to focus investments on AI startups in the U.S., with further details to be announced.
This move underscores Google’s ongoing efforts to foster innovation in the AI sector by providing resources and support to emerging companies at the forefront of technological advancement.
