Venture Capital/AI: OpenAI Launches Converge, An Accelerator For AI Startups

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The initial cohort will comprise about ten founding teams.

In May last year OpenAI launched its $100 million Open AI Startup Fund to provide support to early-stage startups in fields where artificial intelligence (AI) can have a transformative effect—like health care, climate change, and education. On Wednesday, the Fund launched Converge, an accelerator program for founders building transformative companies powered by AI. (OpenAI)

Converge

The five-week program is meant for “exceptional engineers, designers, researchers, and product builders using AI to reimagine products and industries.”

· Participants will receive a $1 million equity investment from the OpenAI Startup Fund

· Early access to OpenAI models and programming tailored to AI companies

· Wrkshops, office hours, and events with practitioners from the OpenAI team and beyond

· Focus on ways to navigate the challenges—and opportunities—of building in a rapidly evolving AI landscape

· Community of fellow founders building on this frontier

· OpenAI is welcoming groups across all phases of the seed stage, from pre-idea solo founders to co-founding teams already working on a product

· Founders from all backgrounds, disciplines, and experience levels may apply

· Prior experience working with AI systems is not required

· The deadline to apply for the first cohort is November 25, 2022

· Program dates: December 5, 2022 to January 27, 2023.

What OpenAI expects: “We believe that the most enduring and impactful of these companies will use emerging AI capabilities to revolutionize existing markets and create entirely new ones, rather than simply enhance what’s already possible.”

Related Story: OpenAI’s DALL-E 2 Program Draws (And Edits) Images From Text Commands

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