Fetch.ai, a decentralized machine learning platform, is establishing a center for early-stage startups working with artificial intelligence technology in San Francisco, California.
The Innovation Lab, a new hub, will welcome early-stage startups specializing in AI agent solutions. These solutions are software that employs artificial intelligence to perform specific tasks or make judgments for users or other systems.
Fetch.ai has announced that it will provide $10 million in annual funding to initiatives that utilize the platform to develop AI agents.
The funding will be contingent upon achieving specific milestones, with a maximum of $1 million per initiative. Analysts anticipate the autonomous AI agents market will surpass $88.1 billion by 2032.
Startups must be in the initial phases of development, from ideation to initial product launch, and be willing to integrate the platforms’ agent technology to participate. A spokesperson from Fetch.ai stated to Cointelegraph, “Ideally, you should have a market-tested or validated working prototype or MVP.”
Furthermore, startups must be legally registered entities in the United States, possess a scalable business model, or possess a distinct vision that requires assistance refining either the product or the business model.
Humayun Sheikh, CEO of Fetch.ai, stated in a statement that the organization’s objective is to provide financial and technical assistance to projects that facilitate the transition from research to market, thereby facilitating tangible advancements that transform industries by leveraging the capabilities of AI agents.
Ambassador Club and Internship
In addition to the Innovation Hub, Fetch.ai is announcing two new initiatives specific to the AI community: an apprenticeship incubator and an ambassador program.
The internship seeks candidates with a “strong interest and basic understanding” of decentralized technologies, AI, and machine learning. Possessing proficiency in programming languages such as Python, Java, or C++ is also advantageous.
Additionally, ambassadors will be accountable for developing an innovative environment for new hub initiatives. Expected events include seminars on AI agents, hackathons, and code nights at the Ambassador’s Club.
“Applicants must possess experience in community engagement.” A spokesperson stated that this encompasses involvement in AI-related forums, gatherings, or organizations.
Several startups, such as Sahara AI and Story Protocol, have raised millions of dollars to advance initiatives in this emerging field, which has seen a surge in decentralized protocols intersecting with AI technology over the past few months in the blockchain space.
