AWS offers $230 million in Cloud credits to generative AI startups, including in India

Amazon Web Services (AWS) on Thursday announced a $230 million commitment in Cloud credits to generative AI startups and the expansion of the global Generative AI Accelerator, which is aimed at helping 80 founders and innovators (including 20 from Asia-Pacific and Japan).

Over the course of the 10-week global programme, which kicks off on October 1, founders of selected generative AI startups will receive up to $1 million in AWS credits, business and technical mentorship within founders' industries and networking opportunities with industry experts.

The applications for the AWS Generative AI Accelerator are open and will be accepted till July 19.

The Amazon-owned company also announced the launch of new AWS Generative AI Spotlight programme in Asia Pacific and Japan (APJ), a four-week initiative to nurture pre-seed and seed-stage ready startups in the region who are building generative AI applications.

The programme will select up to 120 pre-seed and seed-stage ready startups across the region, including 40 from India, the company said in a statement.

"These two complementary accelerator programmes will help startups at various stages of growth in the APJ region to drive innovations on our generative AI stack," said Matt Taylor, Head of Startups Solutions Architecture, APJ at AWS.

In India, AWS is collaborating with venture capital firm Accel for the Generative AI Spotlight programme.

Last year, AWS collaborated with Accel to launch 'ML Elevate 2023', a six-week accelerator programme that supported 35 generative AI startups in India.

"Generative AI offers businesses immense potential to accelerate innovation, revolutionise industries, and drive economic growth," said Amitabh Nagpal, Head of Startup Ecosystem, AWS India.

"We invite eligible startups in India to apply for the programmes, and look forward to empowering startups that are driving generative AI-led transformation in the country," Nagpal added.

Applications for the AWS Spotlight Programme are open from June 13 to June 30 and selected startups will be announced in July.