Google has unveiled its Google for Startups Cloud Program, which promises to provide a substantial financial boost to Indonesian startups employing artificial intelligence (AI) technology.
With a fund allocation of US$350,000 (equivalent to around IDR 5.2 billion) per startup, the program aims to facilitate the development of AI technology and access to Google’s resources.
“This is our way of supporting the startup ecosystem, providing Google Cloud credit of up to US$350 thousand to help them in a span of two years,” said Megawaty Khie, The Regional Director of Google Cloud for Indonesia and Malaysia on Thursday, June 8, 2023.
Megawaty also added that the program has no limit on the number of startups that can apply and there is no deadline.
Criteria for eligibility
To qualify for the program, startups must meet the following criteria:
- Early-stage to series A funding;
- Utilize AI as the core technology to develop their main products or solutions;
- Receive equity funding from early-stage to series A, obtained within the last 12 months, or obtain funding from common Web3 sources;
- Established within the last 10 years;
- Not received more than US$ 4,000 in Google Cloud credits;
- Eligibility subject to Google Cloud policies.
Disbursement of funds
The financial support will be disbursed in two stages
- Year One: US$ 250,000 in the form of Google Cloud credits, including an additional US$ 150,000 credit for the startup AI program;
- Year Two: US$ 100,000 in the form of Google Cloud credits.
Additional support for pre-seed funding startups
Google is also providing free Google Cloud credits up to US$ 2,000 for startups in the pre-seed funding stage. This support aims to assist in financing proof-of-concept development, allowing startups to showcase their products to potential investors and customers.
