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Alibaba-backed AI lab lists first batch of startups for funding

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Oct 19, 2018 by The Passage Team
Alibaba-backed AI lab lists first batch of startups for funding

A Hong Kong artificial intelligence lab backed by e-commerce giant Alibaba and SenseTime, the world’s most valued AI startup, has picked seven startups that will receive funding under its accelerator programme.

The AI and Data Laboratory will provide each of the selected companies USD 100,000 in Seed funding, as well as office space, access to AI resources from Alibaba and SenseTime, and Alibaba Cloud’s cloud computing service.

The joint venture, established in May by the Alibaba Hong Kong Entrepreneurs Fund and Hong Kong’s first unicorn SenseTime, also competes against Western payment services like PayPal, local providers like TNG Wallet and Tencent Holdings’ WeChat Pay.

Source: SCMP

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