OpenAI is welcoming applications for its second six-week AI startup program, Converge 2, which will offer an investment of $1 million to each of the 15 selected participants. This global initiative is designed to support entrepreneurs and creators, including engineers, designers, and researchers, who are leveraging AI for innovative projects.
The company, known for developing ChatGPT, established this startup fund to drive the creation of pioneering startups in the rapidly evolving AI landscape. 2023 has seen significant investments in generative AI startups, reflecting growing interest and support from industry leaders and investors.
OpenAI’s first round of this startup fund, launched in November 2022, saw 12 startups receiving $1 million each. This move aimed to foster the growth of companies and founders developing unique AI-based products.
Sam Altman, CEO of OpenAI, shared insights about the program, emphasizing its role in advancing applied AI across key sectors. The startup fund is a testament to OpenAI’s commitment to pushing the boundaries of AI technology.
The program will commence and conclude in San Francisco, with OpenAI covering the travel costs for the participants. The company encourages a diverse range of founders to apply, highlighting that prior AI experience is not necessary for participation.
Applications for this round are open from Dec. 13, 2023, to Jan. 26, 2024, inviting a wide array of talent to join the program.
In related developments, Thailand’s Kasikornbank launched a $100 million fund, KXVC, focusing on AI, Web3, and deep tech startups in the Asia-Pacific region. Additionally, French AI startup Mistral AI recently completed a funding round on Dec. 1, raising $415 million, led by Andreessen Horowitz and supported by original backers like Lightspeed Ventures.