Innovate.AI: Microsoft Is Giving $5.5 Million To AI-Powered Startups

Redmond’s investment arm Microsoft Ventures has announced a global startup competition ‘Innovate.AI’ for startups creating or using transformative AI technologies.

It’s being held in collaboration with Madrona Ventures, Notion Captial, and Vertex Ventures. Microsoft Ventures, founded last year, has already invested in over 40 AI startups including Agolo, Bonsai, Livongo, CrowdFlower.

The competition would welcome teams from three regions, North America, Europe, and Israel. To decide the winner for each region, up to 10 finalists will be selected who will have to take part in a live pitch-off. They will get their ideas evaluated by an expert panel from Microsoft Ventures and other Venture Captial partners in Seatle, Tel Aviv, and London respectively.

The winning teams from each region will be awarded $1 Million in investment funding, $500,000 in Azure Credits for three years, and 100 Office 365 licenses for a year.

Another $500,000 funding will be given to one standout finalist along with $500,000 Azure Credits and Office 365 licenses. In total, a combined $5.5 million as investment funds and Azure credits will be distributed across four winners.

Interested people can submit their applications on the Microsoft Ventures website before December 31, 2017. The finalists from each region will be selected on February 28 and the live finals will happen sometime in Spring 2018.

Also Read: Microsoft Wants To Put Fingerprint Sensor In Keyboard Keys, Files Patent
Aditya Tiwari

Aditya Tiwari

Aditya likes to cover topics related to Microsoft, Windows 10, Apple Watch, and interesting gadgets. But when he is not working, you can find him binge-watching random videos on YouTube (after he has wasted an hour on Netflix trying to find a good show). Reach out at [email protected]
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