US-based internet technology provider Google launched an innovation hub called Developers Launchpad Studio on Wednesday to back artificial intelligence and machine learning startups, according to VentureBeat.
Developers Launchpad Studio will offer participants $50,000 in equity-free funding as well as technology and product validation support and access to AI experts, practitioners and investors.
The studio will be based at Google’s Launchpad Space in San Francisco and will have additional offices in Tel Aviv and New York, while facilities could also be launched in Singapore, India, the UK and Canada.
Google, which now operates as a subsidiary of conglomerate Alphabet, announced the initiative at the same time as another branch of the company, Google.org, launched a $50m scheme to support non-profit organisations tasked with increasing economic opportunity for the disadvantaged.