""Some of society's biggest challenges are also great opportunities for innovation and job creation," said San José Mayor Matt Mahan in a statement. "San Jose's first-in-the-nation AI grant program is funding local startups building businesses that make our city stronger, safer and more vibrant for everyone. Making local government a platform for innovation is just one of the reasons we're America's AI Capital.""
"The city reported that San José now has 91 venture-backed AI companies valued at approximately $6 billion. The four winning startups join a community of 23 AI startups worth $1.3 billion in downtown San José, the city reported. "The initiative reflects the city's strategy to strengthen its innovation economy while encouraging job creation and public problem-solving through responsible AI," the city said in its announcement."
San José awarded four artificial intelligence companies cash grants and support services through a new AI Incentive Program. Winners are developing solutions in maternal health, food waste reduction, and next-generation satellite data processing. The grant program aims to support early-stage AI companies tackling real-world problems and is described as the first city-run grant program of its kind in the United States. San José now hosts 91 venture-backed AI companies valued at about $6 billion, with 23 downtown startups valued at $1.3 billion. Winners were selected from over 170 applicants by a panel evaluating innovation, feasibility, ethical AI standards, and civic benefit.
#ai-startups #municipal-grant-program #maternal-health #food-waste-reduction #satellite-data-processing
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