Two AI incubators, Zeroth and Deepcore, have announced they shall be joining forces in order to better root out AI deal opportunities and work together to accelerate a host of other AI projects.
Zeroth is a Hong Kong-based incubator with ties to the digital media company Animoca Brands and is the region's first accelerator focused on AI and ML startups. In the two years since Zeroth was first established, the incubator has helped graduate 33 startups, taking an average of 6% equity from each. Deepcore is the more recently launched incubator from Japanese multinational conglomerate, SoftBank Group.
Despite being from two distinctly separate parties, the two bodies both focus primarily on discovering and funding AI projects and startups while they are still in the early stage of development. The hope is that by combining resources, they will be more effective at advancing AI development in the region than separately.
In a statement to TechCrunch, Zeroth founder Tak Lo said, "It's very excited to see the Zeroth ecosystem grow. Ultimately, this ecosystem is about building more and more opportunities for our founders to build great companies".