GAIA AI accelerator allocates $160 mln for 120 startups: SDAIA

01/09/2023 Argaam

GAIA AI accelerator allocates $160 mln for 120 startups: SDAIA

Logo of Saudi Data and Artificial Intelligence Authority (SDAIA)

The Saudi Data and Artificial Intelligence Authority (SDAIA) stated that the generative artificial-intelligence accelerator (GAIA) contributed to supporting and empowering startups specialized in generative AI with the aim of improving them and accelerating their entry to the market.

 

This was with the support of the National Technology Development Program (NTDP), and in cooperation with New Native Inc.

 

The first batch of GAIA accelerator was launched in July 2023 with the participation of 15 startup with the value of its investment fund amounting to $160 million that targets aims to invest in 120 companies in the early stages, as it tracks the progress of startups automatically using generative AI techniques.

 

GAIA works on empowering the environmental AI systems in the Middle East-North Africa (MENA) region through offering programs that target the entrepreneurship sector and technology startups and attract Al-driven businesses in the Kingdom.

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