Riyadh: Supported by Saudi Data and Artificial Intelligence Authority (SDAIA) and the National Technology Development Program (NTDP), in cooperation with New Native Inc., GAIA, the generative artificial-intelligence (AI) accelerator, contributed to supporting and empowering start-ups specialized in generative AI with the aim of improving them and accelerating their entry to the market. GAIA has established four AI Hackathons so far, where more than 7,000 participants and AI developers have created 185 prototypes. The program budget has reached USD 30 million with the aim of empowering 300 startups in generative AI.
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 USD 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. The establishment of GAIA falls within efforts of SDAIA and NTDP to enhance the Kingdom’s pioneering scientific status as a leading enabler of AI technologies. 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.
Source: ZAWYA
