Fetch.ai opens new AI lab in San Francisco and commits $10 million a year to support startups

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Fetch.ai, a founding member of the Artificial Superintelligence Alliance, has opened its Innovation Lab in San Francisco, the company said in an announcement on Friday. In addition to the launch, Fetch.ai is offering $10 million annually to fund startups building real AI solutions with its technology.

The new lab aims to accelerate the development of practical AI solutions using AI agents, the company said. Funding, startup accelerator, Ambassador Innovator Club and internship incubator will be part of the initiative.

Humayun Sheikh, CEO of Fetch.ai, said the lab will serve as a collaborative space for top talent from academia, research and industry to work together. Beyond promoting innovation, the company wants to accelerate the process of transforming ideas into real, impactful solutions based on artificial intelligence.

“Our mission is to bring together world-class institutions, research teams and enterprises in a collaborative environment that not only nurtures innovation, but also accelerates the development of impactful AI-based solutions,” said Sheikh.

The ultimate goal is to develop AI-based solutions that make a meaningful difference — essentially revolutionizing industries through the use of AI agents, according to Sheikh.

“We aim to fund and support projects that bridge the gap between research and the market, delivering tangible advances that revolutionize industries through the power of AI agents,” he added.

The lab will host workshops, events and discussions to spread knowledge about AI agents and showcase successful real-world applications, Fetch.ai said.

Founded in 2017, Fetch.ai’s mission is to democratize access to AI through an open network, enabling autonomous software agents to perform tasks on behalf of individuals and organizations.

Earlier this year, the Fetch.ai Foundation partnered with Deutsche Telekom to promote the integration of AI and blockchain, enhancing security and efficiency in various sectors.

At the end of March, Fetch.ai, SingularityNET and Ocean Protocol joined together to develop a decentralized AI ecosystem and democratize AI research. The Superintelligence Alliance was created as the first step towards this goal.

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