Applications open as university AI programme enters fifth year

A university AI project celebrating its fifth year has announced it is seeking new applicants – for a programme which has seen previous participants receive more than £65m in funding.

The AI Accelerator programme, run at the University of Edinburgh, supports emerging businesses whose proposition is built on Artificial Intelligence (AI).

Along with financial support, successful applicants will also be given digital and in-person workshops covering a range of commercialisation issues.

The 16 chosen companies will be supported from September to March towards investment.

Companies who have previously participated in the programme have gone on to secure more than £65m.

Fiona Gillies, CEO and co-founder of MySmash Media, said: “The six months we spent with 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.”

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 which supports AI-driven businesses to further commercialise their proposition and become world leaders in their field.

“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 deadline for applications is May 19, 2024.