Google launches new initiative to back startups building AI
On Monday, Google announced the launch of its AI Futures Fund, a new initiative aimed at investing in startups that utilize the latest AI tools from Google DeepMind, the company’s AI research and development lab.
The fund will support startups at various stages, from seed to late-stage, offering different levels of assistance. This includes providing founders with early access to Google AI models from DeepMind, opportunities to collaborate with experts from DeepMind and Google Labs, and Google Cloud credits. Some startups may also receive direct investments from Google.
A Google spokesperson explained to TechCrunch, “The AI Futures Fund does not operate on a batch or cohort model. Instead, we evaluate opportunities on a rolling basis—there is no set application window or deadline.
When we identify companies that align with the fund’s goals, we may choose to invest. We are not disclosing a specific fund size at this time, and investment amounts will vary based on the company’s stage and needs—typically focusing on early to mid-stage, with some flexibility for later-stage opportunities as well.”
The AI Futures Fund has already seen participation from startups like the meme-making platform Viggle and the webtoon app Toonsutra. Startups can apply starting May 12.
In recent months, Google has made significant commitments to support the next generation of AI talent and scientific advancements.
Last November, Google.org, the company’s philanthropic arm, announced a $20 million cash commitment to researchers and scientists working in AI.
Earlier, in September, Google CEO Sundar Pichai revealed the creation of a $120 million Global AI Opportunity fund to expand AI education and training worldwide. Additionally, Google.org launched a $20 million generative AI accelerator program to provide funding to nonprofits developing AI technology.
Google also has its Google for Startups Founders Funds, which supports founders from diverse industries and backgrounds, including those in AI.
A spokesperson mentioned in February that this year, the fund would begin investing in AI-focused startups in the U.S., with more details to be shared later.
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