Startups in the field of artificial intelligence (AI) face particular challenges when operating their businesses across international borders. From national data protection regulations to the cultural acceptance of artificial intelligence, there are many hurdles to overcome. Therefore, it is important to plan internationalization early, research potential markets, establish contacts early, and establish long-term partnerships in each new country. The AI Beyond Borders Award from German Entrepreneurship will honor young companies that excel in this area in the future.
All AI startups with seed funding or Series A+ that are developing applied or fundamental solutions for artificial intelligence are eligible to participate in the competition. Applicants must have legal representation in Germany and have received at least €500,000 in investment since their founding. The application deadline is October 3. In addition to a pitch deck and an optional pitch video, startups must also submit answers to the following three questions with their application:
- How are you preparing for the international expansion of your company?
- Please describe how you use AI technology in your product and how you think this technology can be transferred to other geographic markets.
- How do you assess the global market for your product? What are potential barriers to expansion? How do you plan to overcome these obstacles?
50,000 euros to be won
In addition to cash prizes totaling €50,000, there are also various non-cash benefits to be won. The three finalists will receive up to six months of professional support for their expansion to Singapore, Southeast Asia, or North America from internationalization experts and mentors from German AcceleratorIn addition, the award winners will benefit from a one-year membership in AI Park Germany. Additionally, they will receive compute credits worth up to €150,000 each.
The AI Beyond Borders Award, which will be presented annually starting in 2022, is an initiative of German Entrepreneurship within the framework of the AI Competence Center (AI – Artificial Intelligence). The AI Competence Center was launched in June 2022 with the goal of promoting Germany's AI initiatives. The AI Competence Center and the awards are funded by the Federal Ministry for Economic Affairs and Climate Protection and operated by German Entrepreneurship. Other supporters of the new award include AI+Munich, Berlin Partner, Intel Ignite, Startup Network Europe, and Transatlantic AI Exchange.
Further information can be found on the award website.
