THE University of Edinburgh’s AI Accelerator programme is celebrating its fifth year by announcing it is seeking new applicants.
The programme, run at the university’s data science hub the Bayes Centre, supports emerging businesses whose proposition is built on Artificial Intelligence (AI) helping develop their commercial potential.
Along with financial support, successful applicants will also be given digital and in-person workshops covering a range of commercialisation issues.
Companies who have previously participated in the programme have gone on to secure more than £65m in investment.
Professor Ruth King, director of the University of Edinburgh’s Bayes Centre, said: “We’re delighted to be marking the fifth year of our AI Accelerator programme.
“We are proud to have supported over 80 companies in their growth journey by offering mentoring and guidance while opening access to new networks to help them secure funding and investment.
“AI has become increasingly prominent as a disruptive technology impacting all aspects of our lives.
“The University of Edinburgh has been recognised as a world leader in AI research for more than 60 years.
“We understand the importance of utilising this technology in an ethical and trustworthy manner to deliver social and economic benefits.
“We now look forward to receiving applications from innovative and ambitious scaleups from within Scotland and across the globe which use AI to tackle key societal challenges.”
The programme, which will run from September until March 2025, is looking for a cohort for 16 companies who are focused on ‘AI for good’ to deliver societal benefits in health, social care and climate challenge.
This is reflective of previous participants like climate monitoring solution provider, Space Intelligence, Inicio.AI, which makes debt management more efficient for businesses and Edinburgh cancer research business Carcinotech.
MySmash Media, a platform which connects film and TV content creators with commissioners, took part in the programme as part of its latest cohort.
Fiona Gillies, CEO and co-founder of MySmash Media, said: “The AI Accelerator programme made a significant impact on our company by helping us identify and further develop commercial opportunities to reach new markets.
“Along with high calibre mentoring and guidance, the programme was also instrumental in opening doors to potential investors and grant funding channels which are key in helping scale an AI-driven business like ours.”
The university will stage an online information session for potential applicants on 23 April followed by an in-person session on 3 May.
The deadline for applications is 19 May 2024.
