Paddle has opened applications for its expanded AI Launchpad program, aimed at helping more ambitious AI founders scale their ventures.
Date – 14-Aug-2024
Paddle has launched the third iteration of its AI Launchpad program, offering 75 promising AI founders the opportunity to accelerate their growth. Successful applicants will benefit from expert advice, join an exclusive community of AI founders, participate in masterclasses led by industry leaders, and compete for a $20,000 prize along with credits from partners such as Google Cloud. Applications are open from Wednesday, August 14th, through Sunday, September 22nd.
Paddle, a leading payments infrastructure provider, has opened applications for its third AI Launchpad, designed to support 75 ambitious AI founders in building, launching, and scaling their AI-driven business ideas over a 6-week program.
The AI startup landscape is booming, with generative AI ventures globally raising over $25 billion in 2023, a figure expected to reach around $45 billion this year. However, while developing an AI product is a significant step, founders also need strong commercial and operational skills to build sustainable, scalable businesses.
Empowering AI Innovators
Paddle’s AI Launchpad aims to empower AI innovators by providing crucial support to help them excel in their market niches. The program is tailored for AI-focused businesses with products based on natural language processing, machine learning, or other AI technologies. Applicants should have a minimal viable product ready and demonstrate market traction and growth potential.
Program Highlights
- Expert Mentorship: Participants will gain access to mentorship and live masterclasses from top industry leaders, offering valuable guidance and insights.
- Cash Prize: The program will conclude with a $20,000 cash prize awarded to the best offering, as judged by a panel of experts, to further accelerate the winning startup’s development and market reach.
- Partner Benefits: Participants can receive up to $350,000 in Google Cloud credits and access to specialized AI training and resources.
- Community Support: Participants will join a supportive ecosystem of like-minded individuals through weekly workshops, office hours, and a private Slack community.
Christian Owens, Founder and Executive Chairman of Paddle, stated, “The AI Launchpad has evolved beyond its initial goal of supporting new software founders in a rapidly advancing field. The vibrant community and collaborative spirit from our previous programs have driven real progress. We’re thrilled to launch this new iteration, which promises to be the best yet.”
Success Stories
Since its inception in 2023, over 175 founder teams have participated in the AI Launchpad. Notable winners include Virtual Staging AI, which helps real estate professionals sell properties faster using AI, and Vanna AI, which aids businesses in generating accurate SQL queries. Previous participants have achieved significant milestones:
- Several businesses saw over 300% growth in Monthly Recurring Revenue (MRR).
- Web traffic for 2024 H1 finalists surged by over 80%.
- Vanna AI surpassed 10,000 GitHub stars.
Zain Hoda, Founder and CEO of Vanna AI, remarked, “The Paddle AI Launchpad was crucial in refining our growth strategy. The masterclasses provided key insights into pricing, marketing, and value metrics, while the community offered invaluable feedback on pitch decks and marketing strategies. This comprehensive support was instrumental in shaping our business model and go-to-market approach.”
Applications for the AI Launchpad are open from August 14th to September 22nd, 2024, with the program set to begin in October.
