Fetch.ai Fuels Startup Innovation Lab with $10M Fund

The decentralized machine learning platform Fetch.ai is opening a hub in San Francisco, California, to enhance artificial intelligence technologies.

San Francisco’s Fetch.ai Innovation Lab will be available to early-stage firms utilizing AI agents.

Early-stage entrepreneurs developing Artificial intelligent agent solutions—software that uses artificial intelligence to carry out particular activities or make decisions for users or other systems—will be brought on board by the new center, Innovation Lab.

Fetch.ai claims it would provide $10 million in funding each year to initiatives that use the platform to create AI agents. Milestone-based financing will be available, with a $1 million maximum for each project. By 2032, the market for autonomous artificial intelligence agents will grow to $88.1 billion.

Startups willing to incorporate the agent technology of the platforms and are in the early stages of development—from ideation to initial product launch—are eligible to participate. A representative of Fetch.ai said that, “Ideally, you should have a working prototype or MVP tested or validated in the market.”

Startups should also have a scalable business plan, be duly registered as businesses in the US government, and have a clear vision that requires assistance to improve the product or the business plan.

The CEO of Fetch.ai Humayun Sheikh, stated, “We aim to fund and support projects that bridge the gap between research and market, delivering tangible advancements that revolutionize industries through the power of the AI agents.”

The Ambassador Club and internship by Fetch.ai

Fetch.ai is launching two more programs aimed at the AI community in addition to the Innovation Hub: an ambassador program and an internship incubator.

Candidates for the internship should have a “strong interest and basic understanding” of machine learning, artificial intelligence, and decentralized technologies. Proficient in programming languages like Python, Java, or C++ would also be advantageous.

Additionally, ambassadors will be in charge of fostering an inventive atmosphere for brand-new hub initiatives. The Ambassador’s Club is anticipated to hold workshops on AI agents, hackathons, and code nights.

Candidates must have prior involvement in the community. A representative stated that This includes participating in discussions, gatherings, or groups centered around artificial intelligence.

Over the past few months, the blockchain ecosystem has seen a spike in the intersection of decentralized protocols with AI technology. Several businesses, such as Sahara AI and Story Protocol, have raised millions to develop initiatives in this growing field.