OpenAI announces second round of AI startup funding
OpenAI has opened applications to the second batch of artificial intelligence (AI) startups Converge 2 for six weeks, investing $1 million in 15 selected successful participants.
The organization behind ChatGPT announced that the globally accessible initiative is aimed at individuals such as engineers, designers, researchers and product developers who use AI for creative purposes. OpenAI Startup Fund Founded Strong AI systems will fuel a new era of startups.
The rapid expansion of AI tools and solutions has prompted support from industry experts and investors. Generative AI startups have received massive funding from various companies and organizations in 2023 alone.
openai startup fund converge 2 launch: https://t.co/KDzjboxzXa
— Sam Altman (@sama) December 14, 2023
In the year In November 2022, the first phase of the OpenAI Startup Fund will support startup founders and companies creating innovative AI products. It has provided an investment of $1 million each to 12 startups selected from a pool of applicants.
Introducing the program in a statement shared by CEO Sam Altman, OpenAI explained the origins of the initiative and its impact on AI. The company said its startup fund initiative OpenAI is doing its part to help advance the boundaries of applied AI in important domains.
The company stated that the first and last weeks of the program will be held in San Francisco, OpenAI will cover the travel expenses for the participants.
The company encourages founders from diverse backgrounds to apply, regardless of location or experience level outside of the United States. It emphasizes that prior experience with AI systems is not necessary.
Related: Is OpenAI going to drop a new ChatGPT update? Sam Altman says ‘Nah'
The application period runs from December 13, 2023 to January 26, 2024.
Thailand-based private bank Kasikornbank announced a $100 million KXVC seed fund with a focus on AI, Web3 and deep tech startups, particularly in the Asia-Pacific region.
Meanwhile, French AI startup Mistral AI announced a $415 million funding round in its latest funding round, which closed on December 1. The funding was led by Andreessen Horowitz, with support from the startup's original backers, Lightspeed Ventures.
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