OpenAI, the renowned AI startup, has unveiled the commencement of its second Converge cohort, known as Converge-2. The six-week program is tailored for exceptional engineers, designers, researchers, and product builders who are leveraging AI to revolutionize the world. This initiative was revealed in a blog post released by the company earlier today.
Key Takeaway
OpenAI has launched the Converge-2 startup cohort, offering substantial financial investment and a wealth of resources to AI innovators, with a strong emphasis on diversity and inclusivity in the application process.
Investment and Benefits
The selected 10-15 startups participating in Converge-2 are set to receive a substantial $1 million equity investment from the OpenAI Startup Fund. This fund, which exceeds $100 million, was introduced last May with the support of Microsoft and other partners. Consequently, the investment in the Converge-2 program is projected to total at least $10 million, signifying a significant commitment to fostering AI innovation.
In addition to the financial support, participants of Converge-2 will have access to a plethora of resources including tech talks, office hours, social events, and engaging discussions with leading practitioners and OpenAI’s community of builders. Notably, while participants are not obligated to build on OpenAI’s APIs, the program is designed to make OpenAI’s technologies highly appealing due to the network effects.
Application Details
OpenAI is actively encouraging founders from diverse backgrounds, disciplines, and experience levels to apply for the program, including those based outside of the U.S. The application process does not necessitate prior experience with AI systems. However, selected startups are required to allocate a minimum of four to six hours per week to the program from March 11 to April 19. The program’s inaugural and concluding weeks will be held in San Francisco, with OpenAI covering the associated travel costs. The deadline for applications is set for January 26.
