If you’ve been paying attention to the tech news lately, you know that one of the hottest trends of 2017 is around Artificial Intelligence, or “AI.” As the #1 best city in the world for tech (according to the World Economic Forum), Austin has been at the center of this trend. “Austin is emerging as a national powerhouse in the machine-learning AI sphere,” said Bruce Porter, artificial intelligence expert and Chair of UT Austin’s computer science department.
Jonathan Packer, Senior Vice President of Global Technology and Innovation at the Austin Chamber of Commerce, agrees “AI is important, you can see that not only in the number of startups, but also in the interest established companies have in AI. Large companies in every sector are looking at AI, which is creating a lot of opportunity in AI for startups.”
Austin’s top entrepreneurs have banded together to help one awesome AI startup take advantage of that opportunity with a $100,000 investment, and the chance to join the startup accelerator at Capital Factory, Austin’s center of gravity for entrepreneurs. Any startup focused on AI technology can apply on Angel List to pitch at our funding day on July 28th.
“We want to see Austin entrepreneurs thinking bigger and shooting for the stars. If you’re really trying to change the world, we will help you get started,” said Brett Hurt, CEO of data.world and founder of Bazaarvoice, Coremetrics, and Hurt Family Investments (and one of the angel investors backing the competition).
Josh Kerr, Capital Factory Entrepreneur in Residence and another investor backing the competition, concurs saying that “as far as emerging technologies go, AI is going to impact the world with an even magnitude greater than smartphones or the web.”
So what will it take to win?
We are looking for AI companies that have built a compelling MVP and have started to gain early customers, but most of all we want to see great people who we believe in and have demonstrated that they can be resourceful and learn from their mistakes.
The winner will receive:
- $100,000 cash investment on a SAFE or Convertible Note. We will make you detailed offer before you decide to participate in the final round of the competition.
- Special access to an A-List of Austin’s top entrepreneurs who add value far beyond the money you received.
- 1 year of membership in Capital Factory’s startup accelerator.
- 1 year of unlimited co-working at Capital Factory.
- Hundreds of thousands of dollars in free hosting credits from Amazon Web Services, Google Cloud, IBM Softlayer, Microsoft & Rackspace, plus many other cloud services you use.
- Access to the Capital Factory Mentor network.
- Company formation if needed by startup law firm Kastner, Huggins, Reddien & Gravelle (KHRG).
Think you’ve got a shot? Apply now on AngelList to be one of 5 teams selected to pitch on Funding Day on July 28th. You could walk away with $100,000!