Amazon Web Services has launched the AWS Generative AI Accelerator, building on the new developments around generative AI. This 10-week program is designed to take generative AI start-ups from around the globe to the next level.

AWS Generative AI Accelerator will act as a catalyst, tailored to meet the needs of generative AI start-ups. It will provide them access to impactful AI models and tools, customized go-to-market strategies, machine learning stack optimization, and more. 

Selected start-ups will also have access to networking opportunities with industry experts, potential investors, and customers. In addition, the selected start-ups will receive up to $300,000 in AWS credits to build their products and services on the company's tech stack, as well as dedicated business and technical mentors matched based on industry vertical, market, and stage. 

To fully benefit from the program, start-ups should have a minimal viable product (MVP) already developed, some traction with customers, and be working to enhance their product value proposition to scale. Although the program is open to all start-ups, those already building on AWS will benefit most from the accelerator's AWS Solutions Architect team, who will support every step of their product development. 

The program is open to companies around the globe, with no limitations around use cases, including companies applying generative AI to solutions from legal and marketing to software engineering, green energy, and life sciences, including drug discovery. 

Generative AI has the potential to revolutionize many industries, with tech start-ups playing an essential role in bringing this technology into the mainstream. In addition to its creative potential, generative AI has numerous practical applications. 

It can be used in healthcare to create personalized treatment plans or to analyze medical images better; in finance, it can generate smarter analysis and draw insights; in tech, it can write code and reduce human-error bugs; in manufacturing, it can design new products and optimize production processes.

For instance, the visual effects in the movie industry that make heart-pumping action scenes take months of tedious work by numerous artists. These professionals add up numerous hours in post-production time and use millions of dollars in the production budget. Since visual effects are so expensive and time-consuming, films with more modest resources, need help to implement high-quality visual effects to bring forth their vision.

Runway, one of AWS's start-up customers, is helping artists augment filmmaking with its AI Magic Tools, some of which have been used in the Oscar-winning 'Everything, Everywhere, All At Once'. Its text-guided generative diffusion models are unlocking new multi-modal creation and editing solutions for artists. 

With Runway, the difficult tasks of composition, stylization, inpainting, motion tracking, and other processes are made easier and quicker for creators, allowing them to focus on more idea concepts and to deliver faster iterations. These tools also cut down production costs and lower the barrier for filmmakers—professionals and amateurs alike—to push the boundaries of movie making and let their imagination run free.

Sonya Huang, partner at Sequoia Capital, one of the partners of the AWS Generative AI Accelerator, said, "AWS Accelerator offers a compelling program for founders building in the Generative AI space, and I look forward to meeting the cohort when they're announced." 

"With so much activity and opportunity today in the world of AI-driven start-ups, it is a great time for AWS to launch this Generative AI Accelerator. I am looking forward to seeing which companies are selected for the program and how AWS will partner with them to turbocharge their growth," added Rob Toews, partner at Radical Ventures, a lecturer of the program.