Startups in the field of artificial intelligence (AI) face particular challenges when operating their business across international borders. From national data protection regulations to cultural acceptance of artificial intelligence, there are many hurdles to overcome. For this reason, it is important to plan internationalization early, research potential markets, establish contacts early, and forge long-term partnerships in each new country. Young companies that excel in this area will in future be recognized by the AI Beyond Borders Award from German Entrepreneurship.
All AI startups with seed funding or Series A+ financing that develop applied or fundamental artificial intelligence solutions can participate in the competition. Applicants must have a legal representative in Germany and have received at least 500,000 euros in investment since their founding. The application deadline is October 3rd. 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 believe this technology can be transferred to other geographic markets.
- How do you assess the global market for your product? What are possible obstacles to expansion? How do you plan to overcome these obstacles?
50,000 euros to win
In addition to cash prizes totaling 50,000 euros, there are also various non-monetary benefits to be won. The three finalists will receive professional support for up to six months for their expansion to Singapore, Southeast Asia, or North America from the internationalization experts and mentors at German Accelerator. Furthermore, prize winners benefit from a one-year membership in the AI Park Germany. In addition, there are compute credits worth up to 150,000 euros each.
The AI Beyond Borders Award, recurring annually from 2022, is an initiative of German Entrepreneurship as part of the AI Competence Center (AI – Artificial Intelligence). This was opened in June 2022 with the aim of promoting Germany’s AI initiatives. The AI Competence Center and the awards are financed by Bundesministerium für Wirtschaft und Klimaschutz 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’s website.
