We can help you finance AI systems for your company.

1. February 2023

New funding for AI applications

The new aws funding supports companies in the development of innovative, trustworthy AI applications. You can submit your application from today – we can advise you on the funding!

Have you ever thought about how your company could benefit from artificial intelligence (AI)? Then it’s time to put your ideas into action! You can now apply for a new grant to develop AI applications.

But what is artificial intelligence anyway?

“AI (artificial intelligence) refers to the creation of computer systems that are able to perform tasks that normally require human thinking, such as learning, problem solving, and decision making. It encompasses a variety of technologies, from machine learning methods to neural networks and expert systems.“

This explanation does not come from our author, but from ChatGPT, a chatbot based on AI, which can answer questions and even hold a conversation. Impressive, isn’t it?

Do you want to learn more about artificial intelligence and its applications? Click here!

The possibilities for the use of AI are versatile, especially for companies: AI can communicate with customers through chatbots, automate processes, or forecast sales revenues using sales data.

What is being funded?

To encourage more companies to use digital applications based on artificial intelligence, the Austrian promotional bank (aws) has created a new funding program called “aws Digitalization | AI Unternehmen und Wachstum“ with three new grants:

  • “AI-Start“ supports the initial use of AI with up to €15,000.
  • “AI-Adoption“ supports innovative AI projects with up to €150,000.
  • “AI-Wissen“ advises and finances knowledge-building in companies with up to 20 aws consulting hours and up to €20,000.

With AI-Unternehmen und Wachstum, companies are supported in the development of innovative applications of trustworthy AI. In addition, companies receive support if they want to prepare, for example, for the EU AI Act. This EU legislation will bring new regulations, standards, and certifications for the use of AI.

Who is eligible for the funding?

The funding is aimed at start-ups, SMEs, and large companies in future industries such as energy transition, environmental and climate protection, circular economy, information and communication technologies, production, mobility transition, space, aviation, and health. You can find all the details here (in German only).

Your contact for funding

Mag. Romana Schwab

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