Australia has launched the AI Sprint initiative aimed at assisting startups and entrepreneurs in rapidly developing AI solutions to tackle urgent national issues such as cost of living, governance, supply chain resilience, human and environmental well-being, and workforce transformation.
Spearheaded by the CSIRO National AI Centre (NAIC), Stone & Chalk, and Google Cloud, this collaborative effort aims to rapidly develop AI solutions to address a range of challenges facing the nation, the agency said in a news release.
These solutions will be targeted towards crucial areas such as governance, supply chain resilience, human and environmental well-being, and workforce transformation.
Participants in the AI Sprint will compete for substantial rewards, with the winner receiving $300,000 worth of research and development support from selected Australian research institutes.
Additionally, second and third place winners will be awarded $100,000 each. This support package, provided by NAIC, also includes facilitation services by CSIRO’s SME connect.
Moreover, winners of the AI Sprint will benefit from a range of support services provided by Stone & Chalk, aimed at helping them secure capital, customers, expertise, and talent for the successful launch of their business ventures.
The AI Sprint is a three-month competitive program designed to provide startups and entrepreneurs with the necessary resources, tools, and expert support to refine AI-powered ideas into demonstration-ready prototypes.
Participants will be selected based on their proposals aligned with the program’s opportunity statements.
The first phase of the AI Sprint is scheduled to commence in February 2024, with a select group of participants progressing to the second stage.
Here, they will receive enhanced support and resources in preparation for a Demo Day, where prototypes will be presented to an audience of industry stakeholders.
By providing end-to-end support, the partnership equips participants with the tools needed to refine their innovations, gain visibility, and bring their AI solutions to market.
Stela Solar, director of the National AI Centre, emphasised the importance of Australia’s AI Sprint in fostering a thriving local AI industry and accelerating the nation’s sovereign AI capabilities.
“The initiative provides start-ups and entrepreneurs with the end-to-end support needed to refine their innovations, gain visibility, and bring their AI solutions to market. This is the springboard opportunity to transform AI concepts into real-world impact,” Solar noted.
Chris Kirk, CEO of Stone & Chalk Group, highlighted the unique ability of Australia’s AI Sprint to accelerate the long-term growth of AI in the country.
By leveraging the strengths of each organization involved, Kirk believes the initiative will significantly strengthen Australia’s AI ecosystem for the future.
Meanwhile, Michael Langford, head of VC & Startup Ecosystem JAPAC at Google Cloud, underscored the potential of AI to address real-world problems and build a stronger digital future for all Australians.
“Initiatives like Australia’s AI Sprint play a crucial role in unlocking this potential, and we are pleased to support innovators across the country with our deep expertise, educational resources and mentorship,” Langford remarked.
