New updates have been reported about Databricks (PC:DTBRK)
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Databricks has unveiled its AI Accelerator Program, a strategic initiative aimed at fostering innovation among pre-seed and seed-stage startups. This program, supported by Databricks Ventures, offers a comprehensive package of funding, mentorship, and resources to help startups accelerate the development of AI applications. The initiative provides up to $250,000 in financial investment, along with product and professional services credits, tailored to meet the specific needs of each participating startup. The program’s inaugural cohort includes five startups, selected through a competitive process, focusing on diverse applications such as security, data usability, and enterprise automation.
The AI Accelerator Program is part of Databricks’ broader strategy to support the next generation of AI-driven companies. By providing access to its Data Intelligence Platform and a network of leading venture capital firms, Databricks aims to empower startups to bring transformative AI technologies to market. Andrew Ferguson, VP of Databricks Ventures, emphasizes the program’s role in building a community of founders who are leveraging AI to revolutionize business operations. This initiative aligns with Databricks’ commitment to lowering barriers to innovation through various programs and investments, including the $100 million Databricks Free Edition initiative and the Databricks University Alliance. The program is currently accepting applications from startups developing data-intensive B2B applications on the Databricks platform.