The University of Edinburgh’s AI Accelerator Program has announced that it is now exploring technology-led scale-ups to form part of its eighth cohort.
The program is aimed at Scottish as well as international businesses and will support artificial intelligence (AI)-based start-ups to help them develop their commercial potential.
Applications must be submitted by May 19th. Ahead of the deadline, the university will hold an online information session for applicants on April 23rd, followed by an in-person information session on May 3rd.
Up to 16 companies focused on 'AI for Good' delivering social benefits in key areas such as health and wellbeing, social care and climate change issues will then be selected to run the programme. From September of this year to March of next year.
Participants will receive support including discussions on developing investment strategies and direct engagement with potential investors. In addition to financial support, newly accepted cohort companies will also have the opportunity to grow their business through workshops covering commercialization issues from product pricing to leadership.
AI Accelerator is now in its fifth year and has supported the development of a variety of companies, from startups to scale-ups. These include climate monitoring solutions provider Space Intelligence, and debt management technology company Inicio.AI. Carcinotech, a cancer research business based in Edinburgh. The company raised more than £4 million in January to develop its 3D printed microtumor technology.
Since the launch of the AI Accelerator in 2018, these and other participating companies have secured over £67m of funding through a combination of external investment and grant acquisition.
The 2024 program will once again be delivered both digitally and in-person, by the University’s data science and AI hub, the Bayes Center, and in partnership with the University’s commercialization service, Edinburgh Innovations.
Ruth King, director of the Bays Center, said: “AI is increasingly emerging as a disruptive technology that will impact every aspect of our lives.
“We understand the importance of using this technology in an ethical and responsible manner to deliver social and economic benefits.
“We look forward to receiving applications from across Scotland and around the world for innovative and ambitious scale-ups that leverage AI to tackle major societal challenges.”
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