Skymind Sets up Sweet SE Asia USD 800 Million AI Fund

Skymind Sets up Sweet SE Asia USD 800 Million AI Fund

February 12, 2020

AI Engineers get your project pitch perfect! Skymind Global Ventures, the world’s first dedicated AI ecosystem builder, launches an USD800 million fund to back promising new AI companies and academic research across the UK and globally.

After opening its London office in January 2020, Skymind announces its expansion plans into Southeast Asia this week, namely Malaysia and Indonesia, with a focus on training and investment in new Artificial Intelligence technologies.

According to Skymind CEO Shawn Tan, the use of AI and industry acceptance has been growing steadily internationally, particularly in Southeast Asia. It has identified this region as one of the target markets for the investment fund, with a significant portion of the USD 800 million to be made available to growing the region’s ecosystem.

Skymind Vice President and Eclipse Deeplearning4j creator, Adam Gibson will manage the software division, Konduit, which delivers and supports Eclipse Deeplearning4j to clients, as well as offering training development.

Tan says the firm plans to train up to 200 AI professionals for its operations in London and Europe and eventually expand the programme into Southeast Asia.

“Skymind Global Ventures sees strong potential in Malaysia and Southeast Asian region to build a thriving AI ecosystem. From talent to incubating innovative start-ups, this region just requires the tools and expertise to become a global AI hub. Malaysia has a lot of untapped potential to build AI talent and the ecosystem in terms of partnerships and implementing solutions. SGV will use its London base to back research and development and generate business opportunities across Europe and Asia – one of the world’s biggest and most lucrative markets,” says Tan.

Tan says this is not the first foray for the Group into Southeast Asia, as last December,Skymind AI Berhad, the regional counterpart of Skymind signed a Memorandum of Understanding with Huawei Technologies (M) Sdn Bhd to develop a Cloud and Artificial Intelligence Innovation Hub in ASEAN, fostering the innovation and talent development, beginning in Malaysia and Indonesia.

(Ed. Featured image of CEO Shawn Tan provided courtesy of Skymind.)


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