fund transformative early-stage ai startup
Betaworks' new 'camp' aims to fund transformative early-stage AI startups
In a sign that the seed-stage AI segment is still alive and kicking, Betaworks, the startup studio and VC firm, is launching a new program that'll award $500,000 in funding to approximately 10 companies working on AI. Scheduled to run from mid-June until mid-September, Betaworks' program -- the ninth of its kind -- will provide startups access to benefits including a business-building curriculum and accelerated compute from companies including Hugging Face and Stability AI. The program isn't quite an accelerator; Betaworks describes it like a "camp." "This is the biggest change in technology in my lifetime," Betaworks CEO John Borthwick told TechCrunch in an email interview. "We've been building, accelerating and investing in and around machine learning for the last decade, and in the last 12 months, everything's changed -- the launch of generative visual models like [OpenAI's] DALL-E 2 last year, the open and affordable access to these models with the availability of stability and GPT. AI has the potential to affect every sector, and every part of how we live, work, play and even die."