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HomeAI News & UpdatesAn Overview of Openai investment program, 1 Million USD for Startups

An Overview of Openai investment program, 1 Million USD for Startups

Openai investment program is gonna organized by Openai, the parent company of ChatGPT, which has gone viral, are searching for forward-thinking businesspeople to create AI-powered firms. Converge is OpenAI’s annual funding and mentorship program that focuses on breakthrough artificial intelligence (AI) companies. Applications are presently being taken for this program, which is now accepting applications. There will be a total of six weeks spent in OpenAI’s Silicon Valley offices, and the OpenAI Startup Fund will provide “one million dollars” in funding to the businesses that are successful in completing the program.

At the end of 2017, OpenAI chose four businesses to be part of the inaugural Converge “cohort.” They were:

Descript: It is an artificial intelligence (AI) application for making and editing podcast and movies.

Harvey: It is a chatbot and artificial intelligence helper for legal firms and consultancy organizations.

Mem: It is an A.I assistant which assists people in brainstorming and organizing information.

Speak: It is an artificial intelligence-generated language instructor that can construct personalized lessons.

With Converge, OpenAI hopes to fund ten to fifteen startups with unique AI products in the works or the planning stages of development. According to the firm, a background in AI is unnecessary, and “we’re excited to hear from founders from underrepresented backgrounds and those based outside the United States.”

OpenAI's COO expresses that the hype surrounding AI for business is exaggerated

Participants must dedicate four or six hours each week from March 11 through April 19 to complete the program. Founders can be considered if their online application is submitted by Friday, January 26, 2024, at 11:59 p.m. PT. Aside from the standard information such as company name and email address, the application also requests a summary of your business, a link to your website, a roster of all founders, and a 30-second video promoting your concept.





Editorial Staff
Editorial Staff
Editorial Staff at AI Surge is a dedicated team of experts led by Paul Robins, boasting a combined experience of over 7 years in Computer Science, AI, emerging technologies, and online publishing. Our commitment is to bring you authoritative insights into the forefront of artificial intelligence.


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