AWS is offering a new program for 10 lucky startups in the generative AI space to help develop and implement their business.
The AWS Generative AI Accelerator will last for 10 weeks, giving startups the resources and mentoring to build their products before putting them in contact with investors and customers.
Applications are open now and will close on April 17. The chosen 10 will embark on the program from May 24 to July 27, 2023, which will mainly take place online. There will be two sessions in person, one at the start of the week and one in the final week in a Demo Day held at AWS Startup Lofts in San Francisco, CA.
Resources and networking
In terms of funding, the startups can receive up to $300,000 in AWS credits to build their products within AWS, using the cloud service's AI and Machine Learning (ML) tools to do so.
$200,000 of these credits will be given to the startups in the form of AWS Promotional credits, which are aimed at sustainable companies who make applications via cloud hosting.
In addition, an extra $100,000 in credits will be up for grabs as part of AWS Activate, which Amazon describes as the "solution to a scalable, reliable, and cost-optimized startup." The startups will have to separately qualify for the AWS Activate program to be entitled to these extra credits.
Each startup will also be provided with mentors who have expertise in their given field to help with both the technical and business sides of their enterprise. Other sessions will focus on improving machine learning performance, stack optimization, and go-to-market strategies.
They will also be given the chance to interact with one another as well as industry leaders in networking events, which will also see them meet investors and potential customers.
At the end of the program, the startups will pitch there products at the Demo Day to investors, customers and the press, with the purpose of raising awareness for their business.
AWS is ideally looking for startups who already have an MVP developed and are seeking seed funding within the next year and a half. It will also consider machine learning startups who are already using cloud technology or plan to.
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