The University of Edinburgh’s world-renowned AI accelerator program has announced that it is now exploring an innovative technology-led scale-up to form part of its eighth cohort. The program is aimed at Scottish as well as international businesses, supporting start-ups to develop and maximize their commercial potential based on artificial intelligence (AI).
Image credit: University of Edinburgh
Applications for this year's AI Accelerator are open to scalable corporate companies with high growth potential and 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' will then be selected to deliver social benefits in key areas such as health and wellbeing, social care and climate change issues, with the program starting in September. It becomes. Until March 2025.
Participants will benefit from support aimed at helping companies achieve global growth through discussions on developing investment strategies and direct engagement with potential investors. In addition to generous financial support, newly accepted cohort companies will also have the opportunity to grow their business through workshops covering a variety of commercialization issues, from product pricing to leadership.
Now in its fifth year, AI Accelerator has helped a wide range of the world's leading companies, from start-ups to global businesses, grow. These include Space Intelligence, a climate monitoring solutions provider; Inicio.AI is a technology-driven startup that makes the debt management process more efficient and accessible to businesses. Edinburgh-based cancer research business Carcinotech raised more than £4 million in January to further 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 University of Edinburgh in the UK is ranked in the top five for data science in the current QS World University Rankings and is also top rated for informatics research in the UK, according to the 2021 Research Excellence Framework rankings. Home to Europe's largest Center for Computing Science and Informatics, the university's academic expertise and links to data-driven innovation hubs will provide further value to companies participating in the AI accelerator.
The 2024 program will once again be delivered both digitally and in person, in partnership with the Bayes Center, the University of Edinburgh's world-leading data science and artificial intelligence innovation hub, and Edinburgh Innovations, the University of Edinburgh's commercialization service. be taken. The program is offered on behalf of all data-driven innovation hubs at the university.
Among the cohort companies that participated in the latest AI Accelerator was MySmash Media, a disruptive platform that connects film and television content creators and commissioning decision makers. Bennu.ai, developer of the world's smartest trash cans that automatically separate waste for a net-zero circular economy. Dyneval is a life sciences business focused on improving men's reproductive health.
Fiona Gillies, CEO and co-founder of MySmash Media, said: “The six months we spent on the AI Accelerator program had a huge impact on our company, helping us identify and further develop commercial opportunities to enter new markets. Additionally, it has helped us open the door to potential investors and provide an important funding channel for scaling AI-driven businesses like ours.”
Professor Ruth King, Director of the Bayes Center at the University of Edinburgh, said: “We are pleased to be entering our fifth year of the AI Accelerator Program, which supports AI-powered companies to further commercialize their propositions and become world leaders in their fields. We're proud to have helped over 80 companies grow by providing mentorship and guidance, while opening up access to new networks to help them secure business.
“AI is increasingly a disruptive technology that will impact every aspect of our lives. The University of Edinburgh has been recognized as a world leader in AI research for over 60 years. , we understand the importance of harnessing this technology in an ethical and responsible way to deliver social and economic benefits, and are innovative and ambitious to leverage AI to tackle major societal challenges. We look forward to receiving applications for scale-ups from across Scotland and around the world.”
Source: https://www.ed.ac.uk/
