Google launches Initiative to Support AI-focused Startups
On Monday, Google unveiled the AI Futures Fund, a new initiative aimed at investing in startups that leverage cutting-edge AI tools from Google DeepMind, the company’s AI research lab. The fund seeks to nurture companies developing next-generation AI solutions, providing them with key resources to grow and innovate.
Flexible Support for AI Startups
The AI Futures Fund will support startups at various stages, from seed to late-stage. Unlike traditional investment programs, it does not follow a fixed batch or cohort model. Instead, Google will evaluate opportunities on a rolling basis, selecting companies that align with the fund’s mission. The initiative offers a range of support, including early access to Google’s AI models, collaborations with Google experts from DeepMind and Google Labs, and Google Cloud credits. Additionally, some startups may receive direct investment from Google. However, there are no specific details about the fund size or investment amounts yet.
“The fund isn’t limited by a specific application window or deadline,” a Google spokesperson explained. “We invest based on the opportunities we see as they arise, with flexibility to support startups at different stages.”
Early Successes and Future Plans
The AI Futures Fund has already worked with a few startups, such as Viggle, a meme-making platform, and Toonsutra, a webtoon app. These companies are prime examples of how the fund helps promising businesses access vital resources. Interested startups can now apply to join the fund starting May 12.
This launch adds to Google’s growing efforts to support the AI ecosystem. In recent months, Google has made significant commitments to AI talent and scientific advancements. For example, last November, Google.org pledged $20 million to AI researchers, and in September, the company established a $120 million Global AI Opportunity Fund to increase access to AI education and training worldwide. Additionally, Google has launched a $20 million generative AI accelerator program to support nonprofits developing AI technologies.
A Broader Commitment to AI Innovation
Google’s AI Futures Fund is part of a broader strategy to invest in AI innovation across industries. The company’s Google for Startups Founders Fund is another initiative aimed at supporting founders, especially those focused on AI. As Google continues to prioritize AI-driven progress, the AI Futures Fund will play a key role in shaping the future of AI-powered businesses.
