Google wants more startups using its AI. On Monday, the company announced its new AI Futures Fund, which will invest in companies building with Google DeepMind's AI tools and give them special access to Google's technology.
The fund will provide varying degrees of support, including early access to Google AI models from DeepMind, the ability to work with Google experts from DeepMind and Google Labs, and Google Cloud credits. Some startups will also have the opportunity to receive direct investment from Google.
Key Points
- Google will invest in AI startups from seed to late stage, with some getting direct funding
- Selected startups get early access to DeepMind's AI models before they're widely available
- Participants receive Google Cloud credits to cut down on computing costs
The most attractive part for founders isn't just the money. Startups in the program will work directly with experts from Google DeepMind and Google Labs. They'll also get Google Cloud credits, which could save them a ton on computing costs as they scale.
Google hasn't said how big the fund is or how much companies might receive. The approach looks similar to what Microsoft has done with its OpenAI partnership and its own AI startup fund.
For Google, this is clearly strategic. By backing startups that use its technology, Google builds an ecosystem where its AI models become the standard. It's a page from the AWS playbook, where Amazon became essential infrastructure for countless web companies.
Early access to cutting-edge AI models gives startups a real edge. If you're building with more advanced technology than competitors, you can offer features they simply can't match.
Google hasn't named which industries it's targeting, but enterprise apps, industry-specific solutions, and potential acquisition targets are likely priorities.
Google announced the launch just a week ahead of its annual I/O developer conference, where they are expected to reveal significant updates to its AI models and developer tools. Interested startups can apply here.