The NYU Tandon School of Engineering and ff Venture Capital (ffVC), a New York City-based early-stage technology venture capital firm, have set up a New York City-based program dedicated to launching and supporting artificial intelligence (AI) startups.
The four-month program, called NYU/ffVC AI NexusLab, will begin recruiting worldwide for five early-stage startups in leading sectors of the New York City economy, including software, data and security, health care, finance, and media and publishing.
The program will begin in November 2016.
ffVC plans to invest $100k into each company in exchange for a fixed percentage of equity. The five startups will be mentored toward the goal of viability for each one, get access to university computing assets, including three supercomputers and ultra-speed broadband connection at the school’s Data Future Lab, in lower Manhattan, as well as to dedicated AI experts from the university.
Two full-time academic experts will be chosen to address the specific technical needs of the cohort. In addition, each startup will be assigned a student fellow with expertise to fit the company’s needs, from marketing to AI and will get access to the same $400k worth of support services provided to NYU Tandon’s incubator entrepreneurs. These include legal and intellectual-property consulting by Lowenstein Sandler, Google cloud storage, and Amazon Web Services, among others. Each startup will get access to the same acceleration team services as all ffVC companies. In addition to access to senior ffVC mentors, each company will receive support across all aspects of company-building, which will remain accessible beyond the end of the program.
For more information or to apply for the first cohort, visit https://www.f6s.com/ainexuslab.