The Creative Destruction Lab (CDL) has announced it is accepting applications for its 2019/20 cohort for its quantum machine learning and blockchain-AI incubator streams.
“The program is a platform for us to connect with investors and network with other startups facing the same challenges.”
Both streams are 10 months long and include meetings with CDL mentors every two months to gather feedback and set objectives that startup founders are accountable for. Startups will also be exposed to participating venture capitalists, who track their progress over the course of the program. This opportunity gives participating startups access to potential capital and investment opportunities.
The quantum machine learning stream is geared towards entrepreneurs looking to commercialize products that meld quantum computing and machine learning. Participants receive an equity investment of just over $80,000 CAD from investment partners. Technology partners and AI experts for the stream include D-Wave Systems, Rigetti Computing, and Xanadu.
The blockchain-AI incubator assists founders with personalized mentorship from blockchain experts such as Anthony Lacavera CEO of Globalive Technology, Ben Goertzel Chief Scientist of blockchain and AI platform SingularityNET, as well as William Tunstall-Pedoe CEO of Evi which was acquired and integrated into Amazon Alexa in 2012. Participants in this stream are also eligible to receive just over $100,000 CAD in investment, in exchange for equity.
The CDL was launched at the University of Toronto as an incubator for scalable, science-based companies. In October, the Canadian government announced a $25 million investment to go towards conducting a research project for startups. In 2017, CDL announced its latest expansion to New York City.
“Joining the Blockchain/AI stream of the CDL has had a huge impact on the success of ZED Network. The program is a platform for us to connect with investors and network with other startups facing the same challenges,” said Alan Safahi, CEO of blockchain platform-as-a-service ZED Network. “We have been able to set and achieve goals that will take our business through launch and beyond.”
Each company chosen for the cohort will be given office space shared by other startups within the same industry. Startups are also matched with a venture manager, who will work to provide program support, as well as MBA students from the Rotman School of Management at the University of Toronto for further support.
The deadline to apply is May 19, but international candidates are advised to apply by March 14 for the quantum machine learning stream and March 24 for blockchain-AI. Interested individuals can apply here.
Featured image courtesy Creative Destruction Lab.