Founders Factory invests in two new startups under its AI accelerator programme

5 Apr
Capture-1-990x482

By Mudit Mohilay, The Tech Portal

Artificial Intelligence can arguably be called the new web. The sector is seeing the evolution and introduction of a whole lot of revolutionary technology. Along the same, Founder’s Factory, a corporate accelerator vehicle has announced the first two startups chosen to receive aid and mentor-ship under the awning of its program. The  two startups chosen to kick off the Factory’s first ever accelerator program include  Iris.AI and illumr.

Set up under Brent Hoberman’s Founder’s Forum umbrella, with participation from one of China’s biggest tech investors, the CSC Group, Founders Factory aims to chose two different AI startups every year and help them co-create businesses with assistance from the factory. The firm seeks to continue doing this for at least 5 years. So that is somewhere around 10 AI-driven startups we are looking at.

Coming to the startups chosen to make the debut, we first have Iris.ai. The AI-driven research assistant is focused towards researchers and educationalists. The assistant focuses on ensuring that the users are able to search and map the over 60 million open access research papers that are currently available. The organization aims to make research easier by providing its users with access to all the technology theu could want. The startup was founded by Anita Schjøll Brede, Maria Ritoia and Jacobo Elosua (CFO) in 2015.

The second startup to make a showing here and receive assistance from the Founders Factory is illumr.  The organization was founded by Jason Lee in 2013. The organization aims to help companies and government institutions understand and recognize patterns. Phew, that is certainly a complicated calling. So basically, what illumr does is that it converts datasets into understandable 3D patterns. These patterns are much easier to understand than a bunch of data, and are used by illumr’s customers.

The companies will now be mentored by folks over at Founders Factory, and will receive all sorts of assistance. This can include execution support and access to Founder Factory’s global network and corporate partners.