Tech giant Google has announced the launch of Gradient Ventures, a new venture fund from Google with technical mentorship for early-stage startups focused on artificial intelligence. Through Gradient, Google said it will provide portfolio companies with capital, resources, and dedicated access to experts and bootcamps in AI. The company will take a minority stake in the startups in which they invest.
“AI-powered technology holds a lot of promise—from improving patient health to making data centers more efficient. But while we’ve seen some amazing applications of AI so far, we know there are many more out there that haven’t even been imagined yet. And sometimes, these new ideas need support to flourish,” said Anna Patterson, Founder & Managing Partner of Gradient Ventures.
According to Patterson, Many members of Gradient’s team are engineers, so they’re familiar with the journey from big idea to product launch.
“The goal is to help our portfolio companies overcome engineering challenges to create products that will apply artificial intelligence to today’s challenges and those we’ll face in the future. Our portfolio is already growing, and our first companies are making progress, including Algorithmia, a marketplace for algorithms and functions, and Cogniac, a suite of tools used to create and manage visual models,” said Patterson.
“Through AI, yesterday’s science fiction is becoming today’s nonfiction. There’s everything to reimagine as we usher in this new era of technology—and we’re excited to work with entrepreneurs to start building it.”
