Google has launched ‘Accelerator: AI First’, a 10-week equity-free program that will offer training to AI-First startups regarding Artificial Intelligence (AI). AI-First refers to budding companies that, from the onset, are built around the use of learning, predictive or generative computer models to process data and automate processes that solve problems or create value. The program will accept applications from AI-First startups in Kenya, Ghana, Morocco, Nigeria, Algeria, Botswana, Cameroon, Côte D’ivoire, Egypt, Ethiopia, Rwanda, Senegal, South Africa, Tanzania, Tunisia, Uganda, and Zimbabwe.
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Successful startup companies will benefit from access to technical resources by Google, up to USD 350,000 in Google Cloud Credits, mentorship from seasoned AI professionals, and various diverse networking opportunities. Moreover, being equity-free, participating startup companies will not have to give up ownership stakes in exchange for training and support from Google, which will be crucial for their long-term growth and sustainability.
The role of AI in the economy has become increasingly significant, crucial, and transformative in this modern and technological era. This is by reshaping how jobs are done in the economy by automating tasks, enhancing productivity, fostering innovation, and creating new opportunities across various sectors. As such, AI is being adopted by upcoming companies in Kenya to improve efficiency, data analysis, and customer experiences. The training by Google will, therefore, increase the capability of Kenyan startups to solve more practical problems, further growing the economy.
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Over the years, investor confidence in Kenya’s startup ecosystem has also been on the rise, with the country emerging as a notable player across Africa. According to the Kenyan Startup Ecosystem Report 2022, 63 startups in the country raised a combined USD 506,686,000 (Kshs 62.4 billion) in seed capital in 2022, from USD 291,983,000 (Kshs 35.8 billion) recorded during 2021. The envisioned success of Kenyan startups will thereby fuel continued growth in the ecosystem.
