This is the first step to grow your AI startup for innovative solutions

Artificial intelligence (AI) is a buzzword that is boosting innovation. Not only are many startups coming up to create client-specific solutions across industries, but AI is also attracting investors, VC funds, and journalists who are keen on understanding and contributing to the latest developments and innovations. As an AI startup, this means finding funds for projects in this field is becoming easier than before. So let us understand the different types of funding and how should you pick the right one.

Accelerator Sources for AI startups

If you are in a hurry to find funding, you can easily get early-stage funding from several institutions like angel investors, incubators, and accelerators who invest in AI startups.

1. Alexa Accelerator is a startup accelerator created by the Alexa Fund. It is built around a strong belief that voice recognition will transform the way we interact with technology. Startups that are chosen for this program participate in a 13-week program in Seattle to work with technologists and leaders from corporate giants like Amazon and TechStars. Startups will receive US$100,000 of funding after being accepted in convertible notes along with US$20,000 in exchange for 6% of equity.

2. Bosch DNA targets startups in areas like deep learning, AI, and machine learning. The entire program lasts for 18 weeks and startups who have already received funding can also apply.

3. Comet Labs started as a funding source that only focused on AI startups, but has now moved on to take up other challenges and building businesses. The program partners will repute industry brands to provide startups access to vital resources and knowledge that otherwise would be out of reach. Comet Labs provides investment on a case-by-case basis with a warrant, a convertible note, or a discounted equity investment.

4. Creative Destruction Lab supports startups with mentorship on how to raise the ground, formulate effective market strategies and deal with legal and accounting business processes. It is a seed-stage program for technology-based companies.

5. CyberLaunch provides US$20,000 to US$100,000 depending on the venture stage and introduces to the investors. It also provides other benefits like deferred legal services, co-working space, AWS credits, and an additional US$100,000.

6. Deep Science Ventures, as the name suggests, is a venture builder for scientists and engineers at every stage of their career. As soon the company hots the DSV investment criteria, Deep Science Ventures invests 50,000 pounds for a 10% equity stake. Post that, a follow-up investment of an additional 50,000 pounds in convertible notes is available for promising teams.

7. Eonify assists startups interesting in health projects design and develops senior health and wellness personal AI assistant for their own use as well. Eonify uses advanced JPL/NASA technology to achieve its goal.

8. Founders Factory collaborates or develops chosen AI businesses within their acceleration program every year. They offer 30,000 pounds cash and 220,000 pounds in services that include desk place in Founders Factory's Kensington hub and access to exclusive sessions. Overall, this is an intense 6-month program that is tailored and managed against every startup's mission.

9. H2 Ventures will invest US$100,000 into AI companies which has a founding team of four people. They will expect a return of 10% equity share and pay US$50,000 out of US$100,000 in cash. The catch is, this 6-month accelerator program requires relocation to Sydney.

10. IBM Alphazone is a massive 20-week program that helps companies build leading solutions for the market. Only post Seed and Round A funded companies can participate who want to create long-term tech and business partnerships with IBM, globally. Only three startups will receive a grant of up to US$25,000.