Shaping the economy with artificial intelligence

"This money allows us to launch two six-month schemes, namely AI Ideation for developing AI prototypes and the AI Accelerator scheme, which leads start-ups to market maturity with our partners," said Alois Krtil CEO of the Artificial Intelligence Center (ARIC) and partner of AI.Startup.Hub. While the first scheme helps young teams to develop a prototype before they have founded their start-up, the AI Accelerator scheme targets existing AI start-ups. The teams can take part in modules such as Incubation & Acceleration, Go-to-Market Strategy or International Scale Up. "We lend our support to the founders using the know-how in our network. If they have further queries, for instance, about online marketing or deep tech, we bring in external professionals," he added. 

The AI Accelerator scheme started in May and is going "extremely well" while the AI Ideation scheme began in October with a first winter batch, said Krtil. Workshops on product market fit are proving popular. "They discuss questions about the business plan, identify the core business, build up the team and draft industry-specific marketing. And we talk a lot about scaling: 'How do I develop an AI business model and get it to take off - domestically and internationally?'" Founders are supported at every step - from the idea to the scaling pf AI, he pointed out. Depending on the content, the workshops and modules take place at the TU Hamburg, at ARIC (Docklands) or at AI.Hamburg in the city of Hamburg, as well as in various co-working spaces.

The Cauliflower start-up uses AI to analyse customer opinions on social media channels, reviews and customer feedback. Panda, a spin-off of Helmut Schmidt University/University of the Federal Armed Forces Hamburg (HSU), offers a homogeneous, AI-enabled infrastructure of machine and sensor data for monitoring production processes, while ai-omatic's software uses a combination of statistical methods and neural networks to detect machines on the verge of breakdowns early and to optimize maintenance.

Other start-ups in the batch have also come up with exciting business models, Krtil stressed, adding: "Verlingo uses AI in application and HR processes and works in accordance with the latest, stringent data protection guidelines. Dealcode optimises sales based on customer relationship management systems, while Adtriba offers an AI-based tool for measuring and controlling marketing activities." The Repath start-up identifies climate risks in their customers' supply chains and Katulu enables the use of AI without sharing data thanks to a collaborative data ecosystem. A delighted Krtil said: "Even the first batch shows what AI start-ups can do for business and society."

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Other parts in our series on "Idea Accelerators": 

(1) Start-ups now shaping media in Hamburg thanks to Media Lift 

(2) ZAL Innovation Accelerator boosting good ideas

(3) Foodlab accelerator coming up with recipes for success

(4) Start-ups join forces in Digital Hub Logistics for climate protection 

(5) Next Commerce Accelerator benefiting start-ups and established firms