OpenAI to commit $10 million to early-stage AI startups

The OpenAI organization launched the Converge program to provide early-stage AI startups with capital, as well as access to its technologies and resources.

According to the company, the project will fund the OpenAI Startup Fund, a $100 million fund backed by Microsoft and other partners.

Selected founders of ten or fewer startups will receive $1 million each. They will also receive five weeks of access to office hours, seminars and events featuring OpenAI staff, and early access to algorithms and \”software tools tailored for AI companies\”.

\”We are pleased to meet groups at all stages of the seed phase: from solo founders who only have an idea to teams of co-founders already working on a product,\” the blog says.

According to the AI lab, applicants from all walks of life and disciplines, with any level of experience with AI technologies or none at all, may apply.

Applications close on November 25. OpenAI also noted that even after this date, it will continue evaluating applicants for future programs.

In 2021, at the announcement of the OpenAI Startup Fund, the company promised recipients access to Microsoft Azure resources.

However, it remains unclear whether these benefits are available to Converge participants.

Earlier in October, it was reported that Microsoft planned to increase investments in OpenAI’s AI lab.

In the same month, it was reported that Google was in talks for an investment of about $200 million in the AI startup Cohere, which develops solutions in natural language processing.

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