OurCrowd, an Israeli venture capital fund, announced on Tuesday that its newly established artificial intelligence (AI) fund is partnering with Nvidia to expedite the entry of some of its AI startups into the Nvidia Inception program.
The Inception program assists startups in advancing more rapidly by leveraging cutting-edge technology, engaging with venture capitalists, and gaining access to Nvidia’s latest technical resources and tools. OurCrowd’s AI fund was introduced in September 2023 with the goal of raising $50 million and investing in 20 to 25 startups. It has already made investments in three companies, including One Zero Digital Bank, Israel’s inaugural digital bank, and D-ID, which utilizes AI to transform images into videos.
Jon Medved, Chief Executive of OurCrowd, emphasized the transformative potential of AI, likening its impact to significant technological advancements such as cloud computing, social media, smartphones, PCs, and electricity.
Arik Kol, head of Nvidia Inception Israel, expressed enthusiasm for the collaboration with the OurCrowd AI Fund, anticipating that it will contribute to the development of the next generation of AI startups and the broader application of AI across various aspects of life.