Google Launches Accelerator for AI Startups, But Won’t Provide Financing

Google Launchpad, the company’s most successful acceleration network, has announced Google Launchpad Studio, a new home for AI-related startups to grow up in.

Launchpad, Google’s program that boasts equity-free support, just added another jewel to its crown. Alongside the fully-paid stay at Googleplex and PR training, Launchpad Studio also provides experienced mentors for, the industry.

Roy Geva Glasberg, Google’s Global Lead for Accelerator efforts has been travelling around the world with Barak Hachamov, board member for Launchpad in search of new mentors to add to their program.

“We have worked with over 10,000 startups and trained over 2,000 mentors globally,” Glasberg told TechCrunch.

But here’s the catch: the program does not finance the startups, simply because itself has no capital. And it is a big catch, as it may put the accelerator at a disadvantage against competition, like Andy Rubin’s Playground Global which is currently powered by $300 million in venture capital.

The finance issue aside, Google Launchpad Studio is receiving applications for its first class up until August 31st. All startups between Seed stage and Series B funding stage are welcome to apply, as long as they provide a PDF of maximum 15 pages with an overview deck of their startup.