OurCrowd partnering with NVIDIA Inception
OurCrowd announced Tuesday that it will offer a select group of artificial intelligence (AI) start-ups a fast track into NVIDIA’s Inception program.
NVIDIA Inception is a program to accelerate the growth of startups by providing them with state-of-the-art technology, connections to potential investors, and access to the newest technical tools and resources offered by NVIDIA.
“The race for game-changing artificial intelligence technology is well underway, making it the world’s fastest-growing venture investment sector,” Cali Chill, OurCrowd Partner, Head of Fund Investments & Chief Legal Officer, told The Jerusalem Post. “AI’s impact on our lives looks set to be comparable to the introduction of personal computing and the commercialization of the internet. OurCrowd start-ups are leading the way to incorporate AI into an array of industries.”
OurCrowd’s AI Fund plans to distribute investments among 20-25 ventures, some of which will be expedited into Inception. These selected companies will enjoy collaborations with top industry professionals, opportunities to connect with additional investors, and perks such as cloud credits from NVIDIA partners and discounted prices on specific NVIDIA hardware and software.
“Our collaboration with NVIDIA Inception will help give qualifying companies in the fund access to a program tailor-made to nurture startups and equip them for success,” said Jon Medved, CEO and founder of OurCrowd. “When people think of artificial intelligence today, they think of generative AI programs like OpenAI’s ChatGPT. However, the transformative power of AI goes much further than its ability to generate text, photographs, music, video, and other materials. Investors need to take a vertical view of the AI revolution.
“The application of AI to each business vertical will transform our world and shape the economies of the future. AI is poised to affect every industry sector, with an impact comparable to the introduction of cloud computing, social media, the smartphone, the PC, and, before that, electricity,” Medved said.
OurCrowd’s AI fund was launched in September 2023 with a $50 million targeted raise. OurCrowd has been investing in AI companies for 10 years and has $386m. invested in 81 AI companies.