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{"id":29152,"date":"2023-04-13T21:53:16","date_gmt":"2023-04-13T21:53:16","guid":{"rendered":"https:\/\/scienceandnerds.com\/2023\/04\/13\/betaworks-new-camp-aims-to-fund-transformative-early-stage-ai-startups\/"},"modified":"2023-04-13T21:53:17","modified_gmt":"2023-04-13T21:53:17","slug":"betaworks-new-camp-aims-to-fund-transformative-early-stage-ai-startups","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2023\/04\/13\/betaworks-new-camp-aims-to-fund-transformative-early-stage-ai-startups\/","title":{"rendered":"Betaworks\u2019 new \u2018camp\u2019 aims to fund transformative early-stage AI startups"},"content":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/04\/13\/betaworks-new-camp-aims-to-fund-transformative-early-stage-ai-startups\/<\/a><\/br>
\nBetaworks\u2019 new \u2018camp\u2019 aims to fund transformative early-stage AI startups<\/br>
\n2023-04-13 21:53:16<\/br><\/p>\n

\n

In a sign that the seed-stage AI segment is still alive and kicking, Betaworks, the startup studio and VC firm, is launching a new program that\u2019ll award around ten companies working on AI $500,000 in funding.<\/p>\n

Scheduled to run from mid-June until mid-September, Betaworks\u2019 program<\/a> \u2014 the ninth of its kind \u2014 will provide startups access to benefits including a business-building curriculum and accelerated compute from companies including Hugging Face and Stability AI. That\u2019s in addition to one-on-one mentorship time, events and activities plus \u201ccollaboration opportunities\u201d with other Betaworks cohort ventures.<\/p>\n

The program isn\u2019t quite an accelerator; Betaworks describes it like a \u201ccamp.\u201d Rather than writing a small check into companies across a range of categories, the firm\u2019s looking at the \u201cevolution\u201d of technology and betting on a cohort that\u2019s creating or defining a new category.<\/p>\n

\u201cThis is the biggest change in technology in my lifetime,\u201d Betaworks CEO John Borthwick told TechCrunch in an email interview. \u201cWe\u2019ve been building, accelerating and investing in and around machine learning for the last decade, and in the last 12 months, everything\u2019s changed \u2014 the launch of generative visual models like [OpenAI\u2019s] DALL-E 2 last year, the open and affordable access to these models with the availability of stability and GPT. AI has the potential to affect every sector, and every part of how we live, work, play and even die.\u201d<\/p>\n

With the new \u201ccamp,\u201d which is also being underwritten by Mozilla Ventures and Greycroft, Betaworks is specifically looking to recruit companies creating AI tools that \u201caugment the way humans behave, create, play, work and think.\u201d For example, Borthwick says, this could be startups thinking about UIs that focus on the context of interactions over time, or ventures exploring the infrastructure required to allow for human collaboration alongside AI tools.<\/p>\n

\u201cThe AI stack hasn\u2019t been fully defined yet,\u201d Borthwick said. \u201cJust like the early days of the internet, there will be extraordinary companies built, providing infrastructure and foundational tools, and there will also be middleware and applications that become embedded in our lives and augment pretty much everything we do.\u201d<\/p>\n

When asked about the legal challenges facing some AI tech, particularly generative AI, and how it might affect the startups that Betaworks intends to fund, Borthwick didn\u2019t shy away from answering. He expects\u00a0copyright, <\/span>intellectual property and attribution model ownership issues will play out over the next few years and <\/span>ultimately not to have an adverse impact on startups in the space \u2014 or their business models.<\/span><\/p>\n

\u201cSome laws and frameworks that we have today will apply and others will need to be made,\u201d Borthwick added. \u201cThis is like the beginning of the internet where, for example, a \u2018right to be forgotten\u2019 rule hadn\u2019t been considered yet because the technology hadn\u2019t demanded it.\u201d<\/span><\/p>\n

That might be optimistic. But Betaworks hasn\u2019t let potential legal headwinds around AI get in the way before.<\/p>\n

The firm is funding Stability AI, which is currently embroiled in a legal battle over whether the company infringed on the rights of millions of artists by developing its text-to-image tools using web-scraped, copyrighted images. Stock image supplier Getty Images has also taken Stability AI to court for reportedly<\/a> using images from its site without permission.<\/p>\n

Suffice it to say, Betaworks has an appetite for risk \u2014 and anticipates that the reward will be worth the struggle, apparently.<\/p>\n

\u201cAI cleaves open the possibility space around any problem,\u201d Borthwick said. \u201c<\/span>That was one of the big lessons of [DeepMind\u2019s] Alpha Go for us \u2014 the tech found solutions that nobody had ever considered before, and that was on a simple game board.\u201d<\/p>\n<\/p><\/div>\n

<\/br><\/br><\/br><\/p>\n

Science, Tech, Technology<\/br>
\n<\/br>
\nSource:https:\/\/techcrunch.com\/2023\/04\/13\/betaworks-new-camp-aims-to-fund-transformative-early-stage-ai-startups\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/04\/13\/betaworks-new-camp-aims-to-fund-transformative-early-stage-ai-startups\/ Betaworks\u2019 new \u2018camp\u2019 aims to fund transformative early-stage AI startups 2023-04-13 21:53:16 In a sign that the seed-stage AI segment is still alive and kicking, Betaworks, the startup studio and VC firm, is launching a new program that\u2019ll award around ten companies working on AI $500,000 in funding. Scheduled to run from mid-June until […]<\/p>\n","protected":false},"author":1,"featured_media":29153,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,17,8],"tags":[],"class_list":["post-29152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science","category-tech","category-technology"],"yoast_head":"\nBetaworks\u2019 new \u2018camp\u2019 aims to fund transformative early-stage AI startups - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2023\/04\/13\/betaworks-new-camp-aims-to-fund-transformative-early-stage-ai-startups\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Betaworks\u2019 new \u2018camp\u2019 aims to fund transformative early-stage AI startups - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source:https:\/\/techcrunch.com\/2023\/04\/13\/betaworks-new-camp-aims-to-fund-transformative-early-stage-ai-startups\/ Betaworks\u2019 new \u2018camp\u2019 aims to fund transformative early-stage AI startups 2023-04-13 21:53:16 In a sign that the seed-stage AI segment is still alive and kicking, Betaworks, the startup studio and VC firm, is launching a new program that\u2019ll award around ten companies working on AI $500,000 in funding. 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