A University of Edinburgh initiative which helps emerging artificial intelligence (AI) companies maximise their full commercial potential is now accepting applications for its 2023 programme.
Open to both Scottish and international companies, the AI Accelerator is seeking innovative scale-ups to be part of its sixth cohort.
Since its launch in 2018, the programme has supported a range of AI companies, including Edinburgh-based cancer research business Carcinotech, climate monitoring solution provider Space Intelligence, and cryptocurrency wallet and payment platform Zumo.
These and other University of Edinburgh AI Accelerator participants have gone on to secure in excess of £30m of external investment.
This year’s programme is open to applications until 15 May. Applicants must have a focus on using ‘AI for good’ to deliver societal benefits in key areas including health and wellbeing, social care and environmental stewardship.
The 12 companies selected for the next AI Accelerator, which will run for six months from mid-September, will get support aimed at helping transform their businesses, with a focus on investment strategy development and direct engagement with potential investors.
Along with financial support, newly-accepted cohort companies will also be given the opportunity to scale their business through a series of workshops with mentors, covering a range of commercialisation issues, from product pricing to leadership.
The 2023 programme will be delivered both digitally and in-person by the university’s innovation hub for data science and artificial intelligence, the Bayes Centre, and supported by Edinburgh Innovations, the university's commercialisation service.
The 2022 cohort included Edinburgh’s Danu Robotics, a technology solution innovator which has improved speed and accuracy with waste sorting and contaminants removal, and Microplate Dx, a University of Strathclyde spin-out which has revolutionised the treatment of drug-resistant bacterial infections.
Kim Graham, University of Edinburgh provost and vice principal of research and enterprise, said: “The AI Accelerator is a highly collaborative, world-leading programme that is driving forward innovation and helping companies using AI for good to maximise their commercial potential.
“Along with the cross-sector academic and strategic advice on offer, the programme helps AI innovators build their global networks and provides an ideal window to external investment opportunities to help them scale their businesses.
“The AI Accelerator delivers real economic impact through its support of both Scottish-based businesses as well as international companies which may be looking to locate their operations here.”
Stuart Hannah, co-founder and chief executive of MicroplateDx, said: “The AI Accelerator programme has been transformational for me personally and for the business.
“We have been involved in a number of other accelerators in the past, but the University of Edinburgh programme has proven unique in terms of its impact connecting us with key investors, and providing us with clear guidance and mentoring to help develop the business.”
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