AWS deploys $230m to boost generative AI startups worldwide

Photo credit: AWS

Amazon Web Services (AWS) has announced that it will invest US$230 million in generative AI startups globally. Part of this commitment will be set aside for the second cohort of the AWS Generative AI Accelerator.

The 10-week program will benefit around 80 startup founders worldwide, including 20 from the Asia-Pacific region. This is an almost 4x increase from the 21 startups that participated in the first cohort in 2023.

The second cohort of the AWS Generative AI Accelerator will start in October, and it will train founders in machine learning optimization and market entry strategies. Participants may receive up to US$1 million in AWS credits and hands-on support from the cloud computing major.

In addition, AWS has launched a new program for early-stage startups working on genAI applications in Asia Pacific and Japan. Called AWS Generative AI Spotlight, the four-week program plans to include up to 120 startups, which will be announced in July.

The program will connect participants with investors, experts, and peers in the genAI space. They may also receive up to US$100,000 in AWS credits.

Partners for the Generative AI Spotlight program include VC firms and regional organizations, such as Granite Asia, MashUp Ventures, Accel, Stone & Chalk, and Build Club.

“For 18 years, AWS has helped more startups build, launch, and scale than any other cloud provider – it’s no coincidence that 96% of all AI and machine learning unicorns run on AWS,” Matt Taylor, AWS’ head of startups solutions architecture, said in a statement.

See also: 50 rising AI startups in Asia