In a sign that the seed-stage AI segment is still alive and kicking, Betaworks, the startup studio and VC firm, is launching a new program that’ll award $500,000 in funding to approximately 10 companies working on AI. Scheduled to run from mid-June until mid-September, Betaworks’ program—the ninth of its kind—will provide startups access to benefits including a business-building curriculum and accelerated compute from companies including Hugging Face and Stability AI.
A New Approach to Acceleration
Betaworks’ program isn’t quite an accelerator; instead, the firm describes it like a ‘camp.’ Rather than writing a small check into companies across a range of categories, the firm’s looking at the ‘evolution’ of technology and betting on a cohort that’s creating or defining a new category.
"This is the biggest change in technology in my lifetime," Betaworks CEO John Borthwick told TechCrunch in an email interview. "We’ve been building, accelerating, and investing in and around machine learning for the last decade, and in the last 12 months, everything’s changed—the launch of generative visual models like [OpenAI’s] DALL-E 2 last year, the open and affordable access to these models with the availability of stability and GPT. AI has the potential to affect every sector, and every part of how we live, work, play, and even die."
The Focus on AI Evolution
With the new ‘camp,’ which is also being underwritten by Mozilla Ventures, Greycroft, and Differential Ventures, Betaworks is specifically looking to recruit companies creating AI tools that ‘augment the way humans behave, create, play, work, and think.’ For example, Borthwick says, this could be startups thinking about UIs that focus on the context of interactions over time or ventures exploring the infrastructure required to allow for human collaboration alongside AI tools.
"The AI stack hasn’t been fully defined yet," Borthwick said. "Just like the early days of the internet, there will be extraordinary companies built, providing infrastructure and foundational tools, and there will also be middleware and applications that become embedded in our lives and augment pretty much everything we do."
The Legal Landscape
When asked about the legal challenges facing some AI tech, particularly generative AI, and how it might affect the startups that Betaworks intends to fund, Borthwick didn’t shy away from answering. He expects copyright, intellectual property, and attribution model ownership issues will play out over the next few years and ultimately not have an adverse impact on startups in the space—or their business models.
"Some laws and frameworks that we have today will apply, and others will need to be made," Borthwick added. "This is like the beginning of the internet where, for example, a ‘right to be forgotten’ rule hadn’t been conceived yet."
Stability’s Challenges
Betaworks has already faced some challenges with Stability AI, which was involved in controversy surrounding its image generation capabilities and potential misuse by users.
"Stability AI is still figuring out its role in the world," Borthwick said. "We’re trying to use our resources and network to help them navigate these issues."
A New Era for AI
The launch of Betaworks’ new program comes at a time when the AI industry is facing increased scrutiny over issues like bias, safety, and accountability.
"The AI industry is at an inflection point," Borthwick said. "We need to be more thoughtful about how we’re building these systems and ensuring they’re beneficial for humanity."
A Bright Future
Despite the challenges ahead, Betaworks remains optimistic about the potential of AI to drive innovation and progress.
"We believe that AI has the power to transform every industry and aspect of our lives," Borthwick said. "We want to be at the forefront of this revolution and help shape its direction."
Conclusion
Betaworks’ new program is a significant development in the AI landscape, offering startups access to funding, resources, and expertise as they navigate the complex world of AI development.
As the industry continues to evolve and face new challenges, Betaworks’ commitment to supporting and guiding innovative companies will be crucial in shaping its future.
With its focus on creating or defining new categories and its emphasis on augmenting human capabilities, Betaworks is well-positioned to play a key role in the AI revolution.