Friday, October 22, 2021
HomeNewsMTS AI Center launches $100 million Artificial Intelligence fund

MTS AI Center launches $100 million Artificial Intelligence fund

The Intema program will provide mentorship, technical and financial assistance to artificial intelligence startups for boosting their product development and manufacturing capabilities.

International subsidiary of telecom giant Mobile Telesystems, MTS AI Center launches a $100 million fund and artificial intelligence accelerator program. It aims to boost the development and commercialization process of artificial intelligence solutions developed by AI startups across Asia, Europe, and North America. 

The program, named Intelligent Machines (Intema), will provide best-in-class financial and technical assistance to artificial intelligence startups for developing innovative solutions to real-life challenges. 

MTS will use its world-class artificial intelligence talent pool and infrastructure to support startups for their product development process. Over the years, MTS has achieved expertise in several doctors, including telecom, big data, fintech, artificial intelligence, cloud technology, and many more. 

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The Chief Financial and Investment Officer of MTS AI Center, Alexey Posternak, said, “The guiding vision for MTS Artificial Intelligence Center is to establish itself as an AI institute, with deep technical expertise, boosting the capabilities of its investee firms to bring new products to the market.” 

He added that they are delighted to launch this accelerator program to support companies in developing groundbreaking artificial intelligence solutions. In the coming three years, MTS plans to invest $100 million in startups through venture funds. The company will invest up to $20 million on single projects. 

The funds will be invested in already established startups and also in emerging companies to help them get a grip on the market. MTS AI Center has already made a successful investment in a United States-based AI startup that specializes in developing application-specific artificial intelligence-powered integrated circuits and AI software. 
The accelerator program will offer world-class mentoring to the selected startups by experts working in organizations like NVIDIA, Intel, Samsung, Google, and Apple. “The field of AI services has huge, transformative potential and our full-cycle platform will enhance our position in this dynamic global market by fostering innovation and seeding a diverse network of cutting-edge AI businesses,” said Posternak. Interested Startups can apply to this program from the official website of MTS AI.

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Dipayan Mitra
Dipayan is a news savvy writer, who does not leave a single page of news paper unturned. He is also a professional vocalist who enjoys ghazals. Building a dog shelter is his forever dream.

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