OpenAI Startup Fund, a distinct entity
While internal dynamics at OpenAI capture headlines, the AI startup and its affiliated accelerator programs remain undeterred. The OpenAI Startup Fund, a distinct entity from OpenAI, has introduced Converge-2, the second installment of its six-week Converge program. This initiative targets “exceptional engineers, designers, researchers, and product builders utilizing AI to reshape the world,” according to a recent blog post.
Selected from a pool of applicants, the 10-15 startups joining Converge-2 will benefit from a substantial $1 million equity investment courtesy of the OpenAI Startup Fund. With a quick calculation, it becomes evident that this constitutes a noteworthy minimum investment of $10 million in the Converge-2 program.
Beyond financial support, participants in Converge-2 will gain access to a rich array of resources, including tech talks, office hours, social events, and interactions with industry leaders and the OpenAI Startup Fund’s community. Importantly, there is no mandate for startups to build exclusively on OpenAI’s APIs. The program explicitly welcomes anyone involved or interested in AI, with the network effects likely making OpenAI’s technologies highly appealing.
The OpenAI Startup Fund actively encourages founders from diverse backgrounds and experiences worldwide to apply, emphasizing that prior AI system experience is not a prerequisite. However, selected startups must commit four to six hours per week to the program from March 11 to April 19, with the first and last week occurring in San Francisco, with travel costs covered by the OpenAI Startup Fund.
The application deadline is January 26. If you’re a visionary in the AI space, this could be your opportunity to join an exclusive cohort and receive both financial backing and invaluable mentorship.
