AWS expands global GenAI accelerator, commits $230 mn to back early-stage startups

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Amazon Web Services (AWS) on June 13 announced a $230-million commitment to back generative AI startups, and expand its global Generative AI Accelerator, which is aimed at helping 80 founders and innovators (including 20 from Asia-Pacific and Japan (APJ)) to help with both technical and business programming tailored to startups in this space.

Applications for the AWS Generative AI Accelerator open today and will be accepted until July 19.

The 10-week global program will kick start on October 1, wherein founders of selected generative AI startups will have access to receive up to $1 million in AWS credits to leverage AWS’ compute, storage, and databases, along with mentorship from industry experts and founders.

For pre- and seed-stage, AWS launched AWS Generative AI Spotlight program in Asia Pacific and Japan (APJ), a four-week accelerator program to nurture startups in the region who are building generative AI applications, the company said. This programme will provide select startups with access to business and technical knowledge and expertise from industry experts, founders, and investors, and as well as peer support from a community.

“The cohort participants will also have access to the AWS startup flagship AWS Activate program and receive up to $100,000 in AWS Credits, subject to Accelerator T&C and AWS discretion,” the company said.

Applications for the AWS Spotlight Program are open from June 13 to June 30, 2024, and selected startups will be announced in July 2024.

Matt Taylor, Head of Startups Solutions Architecture, APJ at AWS said, “For 18 years, AWS has helped more startups build, launch, and scale than any other cloud provider – it’s no coincidence that 96% of all AI/ML unicorns run on AWS…These two complementary accelerator programs will help startups at various stages of growth in the APJ region to drive innovations on our generative AI stack.”

Amitabh Nagpal, Head of Startup Ecosystem, AWS India. “Tailored to the lifecycle of early-stage generative AI startups, the two distinct, complementary programs- AWS global generative AI accelerator, and APJ Generative AI Spotlight, are designed to offer selected startups access to various resources such as AWS credits, tools, and expertise, to accelerate their journey. We invite eligible startups in India to apply for the programs, and look forward to empowering startups that are driving generative AI-led transformation in the country.”