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As more companies incorporate generative AI technology into their existing tech, it’s becoming the latest and greatest tech boom for companies to jump on. And for startups that promise new, exceptional, and innovative ideas in AI, Amazon Web Services’ AWS Generative AI Accelerator program offers a leg up.
The AWS Generative AI Accelerator is geared toward the best startups in the industry that need AWS’ resources to take their ideas to the next level. AWS will provide selected startups with a number of tools to grow their company, like access to AI models, market strategies, and machine learning stack optimization.
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The selected startups will also have the opportunity to network with investors and potential customers, as well as receive $300,000 in AWS credits to put towards building their products. AWS says the candidates that will receive the most benefit from the program should have a minimal viable product, a growing customer base, and “be working to enhance their product value proposition in order to scale.”
The AWS Generative AI Accelerator is open to all startups from around the world, but the companies already building their tech on AWS will receive the most benefit from the program. The accelerator program will last for 10 weeks.
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The application for the AWS Generative AI Accelerator opens on April 4 and will remain open until April 17. The accelerator’s participants will be announced in late April.
Runway, one of AWS’ startup customers, harnessed the power of AI tools to create Gen-2, a multimodal AI system that can create unique videos with text, images, or video clips. The technology was created out of a collaboration between Runway, AWS, and Nvidia.
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Runway’s AI Magic Tools are being used in the filmmaking industry and, most notably used in the Oscar-winning picture, “Everything, Everywhere, All At Once.”