OpenAI Startup Fund’s Converge Accelerator Starts Accepting New Applicants
The $100 million OpenAI Startup Fund is now accepting applications for the second cohort of its Converge startup program, which focuses on supporting entrepreneurs utilizing artificial intelligence (AI) in innovative ways. The fund, with over $10 million available, plans to invest in 10 to 15 companies selected for the six-week accelerator program.
Introduction
The OpenAI Startup Fund has launched its Converge-2 program, inviting entrepreneurs to apply for funding and support in developing AI-powered ventures. The fund offers $1 million in equity financing to each participant and provides access to exclusive speaker sessions, mentorship, and a network of AI builders. Prior experience with AI is not a requirement for applicants.
Main Points
The OpenAI Startup Fund, backed by Microsoft and other investors, focuses on supporting founders who align with its mission of ensuring AI benefits humanity. The fund has invested in companies such as legal startup Harvey and AI video editor Descipt.
The Converge-2 program will take place from March to April in San Francisco, with a Jan. 26 application deadline. Participants will gain early access to OpenAI’s latest models and software tailored to their business models. While most of the program can be conducted remotely, the final week will bring everyone together in person.
Converge is part of a growing number of AI-centered accelerator programs that have emerged as the popularity of AI technology continues to soar. One such program is Amazon’s AWS generative AI startup accelerator.
Conclusion
The OpenAI Startup Fund’s Converge accelerator is now accepting applications for its Converge-2 program, offering entrepreneurs financial support, mentorship, and access to a network of AI builders. The program aims to foster the development of AI-powered startups and push the boundaries of applied AI in various domains. With a deadline of Jan. 26, the program will run from March to April in San Francisco, providing participants with early access to OpenAI’s latest models and software.