AWS Announces $230 Million Commitment for Generative AI Startups

Amazon Web Services (AWS) has announced a $230 million investment to support early-stage startups globally in developing innovative generative AI applications. This initiative includes AWS credits, mentorship, and education to bolster the use of AI and machine learning technologies among startups.

The  AWS Generative AI Accelerator program will onboard an additional 80 international startups that are utilizing generative AI to address intricate challenges. These startups will receive hands-on expertise and up to $ 1 million in credits each.

They can also use AWS credits to access AWS compute, storage, and database technologies, as well as  AWS Tranium And AWS Inferentia2, energy-efficient AI chips that offer superior performance at a minimal cost.

96% of all AI/ML unicorns run on AWS

“For more than 18 years, AWS has helped more startups to build, launch, and scale their business than any other cloud provider—it’s no coincidence that 96% of all AI/ML unicorns run on AWS,” said Matt Taylor, vice president, Artificial Intelligence Products at AWS. "With this new effort, we will help startups launch and scale world-class businesses, providing the building blocks they need to unleash new AI applications that will impact all facets of how the world learns, connects, and does business.”

Mentorship

Startups participating in this program can attend sessions on ML performance enhancement, stack optimization, and go-to-market strategies. They will also have access to industry experts, technology, and technical sessions from NVIDIA, the program’s presenting partner.

Timeline

Applications: Open until July 19

Duration: 10 weeks

Program Commencement: October 1 at Amazon's Seattle campus.

Second Cohort Announcement: September 10.

Showcase: All participating startups will present their solutions to potential investors, customers, partners, and AWS leaders in December at re: Invent 2024 in Las Vegas.