Paddle introduced the program last year as funding for AI projects was increasing significantly. The company's research has found that nearly half of software companies have added AI to their product. However, Paddle emphasized that adding AI is not the same as building a successful, sustainable AI business. Despite this, many companies continue to use AI to attract investors, with the technology becoming a central theme in pitches to venture capital veterans.
Key takeaways:
- Paddle, a British payments infrastructure provider, has restarted its funding program for AI startups, with the 2024 installment of its AI Launchpad announced.
- The six-week program aims to help software founders scale their AI-powered ideas, offering guidance from industry experts and a $20,000 prize for the best business offering.
- Last year's winner, Virtual Staging AI, saw a 10x increase in revenue after participating in the program and implementing advised payment strategies.
- Paddle's research has found that nearly half of software companies have added AI to their product, but warns that this is not the same as building a successful, sustainable AI business.