AWS Announces $230 Million in Cloud Credits for Generative AI Startups
Amazon Web Services (AWS) has unveiled a $230 million commitment in Cloud credits to support generative AI startups, including those in India. The initiative includes the expansion of the global Generative AI Accelerator and the launch of the AWS Generative AI Spotlight programme in the Asia Pacific and Japan (APJ) region.
The global Generative AI Accelerator aims to assist 80 founders and innovators, including 20 from APJ, through a 10-week programme beginning on October 1. Selected generative AI startups will receive up to $1 million in AWS credits each, alongside business and technical mentorship and networking opportunities with industry experts. Applications for the accelerator are currently open and will be accepted until July 19.
Additionally, AWS announced the AWS Generative AI Spotlight programme, a four-week initiative targeting pre-seed and seed-stage startups in APJ. This programme will select up to 120 startups, including 40 from India, providing resources and guidance for developing generative AI applications. In India, AWS is collaborating with venture capital firm Accel, continuing their partnership from the 'ML Elevate 2023' accelerator, which supported 35 generative AI startups.
Matt Taylor, Head of Startups Solutions Architecture for APJ at AWS, stated that these programmes will drive innovations on AWS’s generative AI stack, aiding startups at various growth stages. Amitabh Nagpal, Head of Startup Ecosystem at AWS India, highlighted the transformative potential of generative AI for businesses and economic growth, inviting Indian startups to apply.
Applications for the AWS Spotlight Programme are open from June 13 to June 30, with selected startups to be announced in July. AWS’s investment aims to accelerate the development of generative AI technologies and foster startup growth across APJ, emphasizing AWS’s strategic focus on advancing AI innovations.