Europe's AI gurus are going to lend their expertise to a new startup factory in Hong Kong
Zero.ai
Zeroth, as the accelerator is known, will offer 10 startups $20,000 each (£15,000) in exchange for a 6% equity stake. Startups will also receive mentoring and office space.
The accelerator is being launched by Tak Lo, who was previously a director at accelerator TechStars London.
Speaking to Business Insider on Tuesday, Lo said that he plans to make Zeroth a success with the help of his AI connections in Europe.
"The UK is becoming a big AI centre with DeepMind and Magic Pony but AI is strong elsewhere in Europe too," Lo said during a phone call with Business Insider. "I wanted to connect that type of expertise with some of the early-stage stuff in Hong Kong."
The following European AI gurus are expected to fly to Hong Kong and provide mentoring to startups that get accepted onto Zeroth's three-month programme:
- Skype cofounder and former Google DeepMind advisor Jaan Tallinn
- Weave.ai cofounder Rodolfo Rosini
- White Star Capital investor John Henderson
- Serial entrepreneur Azeem Azhar
- Playfair capital investor Nathan Benaich
The AI gurus will also make themselves available for video calls.
Lo described Hong Kong's technical talent as "raw," adding that entrepreneurs in the city have an exceptionally high work ethic.
"We're looking for ambitious companies that are execution orientated with world-changing ideas," said Lo.
He added that he's focusing on AI because he believes that the technology has the potential to have a positive impact on society. In healthcare, for example, AI has the potential to help detect things like cancer and dementia, he said, adding that there are several other industries that AI could benefit.
- I'm an interior designer. Here are 10 things in your living room you should get rid of.
- A software engineer shares the résumé he's used since college that got him a $500,000 job at Meta — plus offers at TikTok and LinkedIn
- A 101-year-old woman keeps getting mistaken for a baby on flights and says it's because American Airlines' booking system can't handle her age
- The Role of AI in Journalism
- 10 incredible Indian destinations for family summer holidays in 2024
- 7 scenic Indian villages perfect for May escapes
- Paneer snacks you can prepare in 30 minutes
- Markets crash: Investors' wealth erodes by ₹2.25 lakh crore