Startup Vic x Boab AI Present: AI Pitch Night
Artificial Intelligence (AI) is a broad sector of technology that is defined by the fathers of the field Minsky and McCarthy as ‘any task performed by a program or a machine that, if a human carried out the same activity, we would say the human had to apply intelligence to accomplish the task’. In today’s world it is ubiquitous – Tesla and Google are powering their self-driving cars with it; financial institutions use it to detect fraud and even Spotify and Amazon’s endless streams of personal recommendations are informed by AI.
AI is also one of both Australia and the world’s fastest-growing and most potentially lucrative tech sectors, with the AlphaBeta report estimating Australia’s AI economy to be worth $315 billion by 2028. 21% of Australia’s 1400+ startups already consider AI as part of their product and/or service, yet there is a funding gap at the Seed/Angel stage for scaleup companies and only 3% of total venture funding is at Seed/Angel stage. This is where Boab AI come in!
Boab AI‘s mission is to address the gap in AI scaleup funding in Victoria. That’s why this October they’re joining us to host Pitch Night: AI, where we’ll bring together 4 of the best and most ambitious local AI startups to pitch on the (virtual) stage to a room of industry professionals, fellow founders and expert judges.
What is AI?
AI is a broad term – that’s why we’ve put together these definitions to help you understand what we’re qualifying as AI for Pitch Night applicants.
Artificial Intelligence: Any technique which enables computers to mimic human behaviour.
Machine Learning: Techniques which use statistical methods to enable machines to improve with experiences.
Neural Networks: Type of machine learning, in which a machine learns to perform tasks by analyzing training examples.
Deep Learning: Makes the computation of mutilayer neural networks feasible.
29 September – Applications open
19 October – Applications close
18 September – Shortlisted applicants announced
22 October – Pitch training for shortlisted applicants
23 October – Finalists announced
27 October – Pitch Night!