OpenAI startup fund announced it is investing $100 million in AI companies. It states on its website in an announcement that the investment is diverted toward companies which will have a profound, positive impact on the world. The fund will be managed by OpenAI and will be in partnership with Microsoft and other OpenAI partners.
OpenAI is looking to partner with early stage startups operating and building solutions for in fields like healthcare, climate change and education. OpenAI states that these are the fields that artificial intelligence could have a transformative effect and AI tools can empower people by helping them be more productive.
Along with the capital, OpenAI startup fund will also give early access to future OpenAI systems, support from the team and also credits on Azure. The startups can apply through the form available on the webpage. Additionally, it also has a 1 minute video pitch introducing the team and the idea of the startup.
Interestingly, a couple of years ago, Microsoft announced that it would invest $1 billion in OpenAI. The investment would be to support the development of artificial general intelligence with economic benefits.