New technologically advanced labs around ML/AI for start-ups and students are in the works for Summer 2023
NEW YORK - June 6, 2023 - PRLog -- VenturSeed, an ETF-style venture capital fund, has launched its summer Machine-Learning/Artificial Intelligence (ML/AI) program, set to kick off on June 21, 2023. The program aims to provide students and pre-pre-seed startups free access to ML/AI resources using the latest hardware, open-source ML/AI models, and training capabilities. ML/AI projects with commercial viability have the potential to get funding from the VenturSeed Investment Network pilot program. They are open to undergrad, graduate, and Ph.D. students at some New York City CUNY colleges and pre-pre-seed startups in the VenturSeed Incubator and ecosystem.
Students and startups will have access to the best development operations and ML/AL engineers and practitioners as part of the program. They will also participate in experimentation and research at groundbreaking companies, including those operating in stealth mode.
The two distinct paths include one for students and one for non student startups. Students can apply as individuals or small teams and present their project or concept for acceptance into the program. The students have access to the same resources as a professional startup during the program.
Startups will need to prove the commercial viability of their product or service. They should already have a model and an algorithm developed to solve an actual business problem. Having an MVP or rudimentary prototype is a bonus. Similar to VenturSeed's incubator program, a small amount of equity is required.
Some of the resources students and startups will have access to include
- Latest GPU Hardware
- Cloud TPUs
For startups, other requirements include but are not limited to:
1. No previous Institutional Capital or VC Capital
2. Ability to incorporate in Delaware, US (can be converted during the program).
3. Current expenses, financials, and cap table.
4. Full list of company team members, including part-time or full-time status.
While startups must give up some form of equity, it's entirely worth it for some that want to have a partner in it for the long haul who can help guide other aspects of the business down the line.
"One of the most common causes of bias in machine learning algorithms is that the training data is missing samples for underrepresented groups/categories and poor, vulnerable communities. By providing ML/AI access to groups historically facing systemic exclusion, we can help curb the unconscious design bias and increase the visibility and entrepreneurship of underrepresented groups in data science," says Alexandra Trenkovoa, one of the other partners as Venturseed.
VenturSeed Labs is committed to providing startups with the tools, resources, and support they need to succeed in the ever-changing startup ecosystem.
Students and Startups interested in applying for the VenturSeed ML/AI Labs can visit www.ventureseed.com/mlabs to access the application process and for more information.
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