$FET

According to Cointelegraph, decentralized machine learning platform Fetch.ai is establishing an Innovation Lab in San Francisco, California, aimed at advancing artificial intelligence technology. This new hub will support early-stage startups focused on developing AI agent solutions, which are software systems that use artificial intelligence to perform specific tasks or make decisions for users or other systems. Fetch.ai has committed to allocating $10 million annually to fund projects utilizing its platform to build AI agents, with funding being milestone-based and capped at $1 million per project. The autonomous AI agents market is projected to reach $88.1 billion by 2032.

Startups interested in participating should be in the early stages of development, ranging from ideation to initial product launch, and must be willing to integrate Fetch.ai’s agent technology. A working prototype or MVP that has been tested or validated in the market is ideal. Additionally, startups must be legally registered entities in the United States and possess a scalable business model or a clear vision that requires support to refine either the product or the business model. Humayun Sheikh, CEO of Fetch.ai, stated, “We aim to fund and support projects that bridge the gap between research and market, delivering tangible advancements that revolutionize industries through the power of AI agents.”

In addition to the Innovation Lab, Fetch.ai is introducing two other initiatives targeting the AI community: an internship incubator and an ambassador program. The internship program seeks candidates with a strong interest and basic understanding of decentralized technologies, AI, and machine learning, with proficiency in programming languages such as Python, Java, or C++ being desirable. The Ambassador’s Club will focus on fostering an innovative environment for new hub projects, hosting hackathons, code nights, and workshops on AI agents. Applicants for the ambassador program should have experience in community engagement, including participation in AI-related forums, meetups, or organizations.

The blockchain space has seen a significant increase in decentralized protocols intersecting with AI technology in recent months. Several startups, including Sahara AI and Story Protocol, have raised substantial funds to advance projects in this emerging field.