Hong Kong AI and Data Laboratory, the accelerator backed by e-commerce firm Alibaba and image recognition software provider SenseTime, has announced its first seven startups, South China Morning Post (SCMP) has reported.
The six-month accelerator was formed in May 2018 by SenseTime and Alibaba’s Hong Kong Entrepreneurs Fund to provide a launchpad for artificial intelligence (AI) startups in Hong Kong.
The unit will work closely with Hong Kong Science and Technology Parks Corporation, a Hong Kong government-owned body set up to drive local technology and innovation. It is providing $100,000 in seed capital for each participant.
In addition to funding, participants in Hong Kong AI Lab will gain office space and access to AI resources from SenseTime and Alibaba, as well as cloud computing services from the latter’s Alibaba Cloud subsidiary.
The lab’s inaugural cohort includes Dayta, which is working on computer vision and natural language processing-powered services for enterprises.
Jeff Zhang, Alibaba’s chief technology officer, told SCMP: “These startups not only have innovative technologies and business ideas, but they also offer valuable solutions for different industries and scenarios.”