AWS Pledges $230 Mn to Support Startup and Extends its Global GenAI Accelerator

By Consultants Review Team Friday, 14 June 2024

Amazon Web Services (AWS) declared that it would invest $230 million in generative AI startups and grow its global Generative AI Accelerator. The initiative intends to support 80 innovators and founders, 20 of whom are from Asia-Pacific and Japan (APJ), by providing them with business and technical programming specifically designed for startups in this field.

The AWS Generative AI Accelerator is already accepting applications, and the deadline is July 19.

Starting on October 1, a 10-week worldwide program will provide mentorship from industry experts and founders to the founders of chosen generative AI firms. The initiative offers up to $1 million in AWS credits to use AWS' computing, storage, and databases.

AWS announced the opening of the AWS Generative AI Spotlight program in Asia Pacific and Japan (APJ) for pre- and seed-stage companies. The program is a four-week accelerator designed to support businesses in the area developing generative AI solutions. Through this program, a limited group of entrepreneurs will have access to industry experts, investors, founders, and peers who will share business and technical knowledge and skills.

In addition, "the cohort participants will receive up to $100,000 in AWS Credits, subject to Accelerator T&C and AWS discretion," and they will have access to the AWS startup flagship AWS Activate program. 

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