Israeli venture capital fund OurCrowd announced a partnership with Nvidia to accelerate the growth of artificial intelligence (AI) startups. OurCrowd’s AI fund, launched in September 2023, aims to raise $50 million and invest in 20 to 25 startups. With this collaboration, selected AI startups will have the opportunity to join Nvidia’s Inception program, which provides access to cutting-edge technology, venture capitalists, and the latest technical resources from Nvidia.
AI has become a transformative technology, with the potential to revolutionize every industry. Jon Medved, CEO of OurCrowd, compared its impact to that of cloud computing, social media, smartphones, PCs, and electricity. The partnership with Nvidia will further nurture the next generation of AI startups, shaping the way AI benefits various aspects of our lives.
Arik Kol, head of Nvidia Inception Israel, expressed excitement about the collaboration, believing that it will play a key role in developing groundbreaking AI startups. The combination of OurCrowd’s expertise in venture capital and Nvidia’s technological resources creates an environment primed for innovation and success.
OurCrowd has already made significant investments in the AI industry, pouring $386 million into 81 AI companies over the past decade. Eight of these companies have been acquired or had initial public offerings, highlighting the fund’s ability to identify promising startups. The partnership with Nvidia will enhance these efforts and provide a boost to the growth of AI innovation.
By collaborating with Nvidia and joining the Inception program, OurCrowd’s selected AI startups gain access to an extensive network of industry experts, valuable resources, and opportunities for further funding. This partnership serves as a testament to the growing importance of AI in the tech industry and its potential to drive significant advancements in various sectors.
With AI poised to impact every industry, this collaboration will not only benefit the individual startups involved but also contribute to the overall development of AI technologies. As the world continues to rely more on AI-driven solutions, the support and guidance provided by OurCrowd and Nvidia will play a crucial role in shaping the future of AI innovation.
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