Applications are now open for this year's AI Accelerator to scalable, incorporated businesses demonstrating high growth potential and must be submitted by 19 May. In preparation, the University will host an online information session on 23 April, followed by an in-person session on 3 May. Up to 16 companies will be selected for the cohort, focusing on 'AI for good' to drive societal improvements in areas such as health and wellbeing, social care, and addressing climate challenges. The programme will run from September until March 2025.

Participants will receive support tailored to foster global expansion, including investment strategy development and opportunities for direct investor engagement. Additional benefits for the selected companies include substantial financial support and workshops addressing various commercialisation challenges, from product pricing to leadership development.

Now in its fifth year, the AI Accelerator has aided a diverse array of companies in scaling their operations to a global stage. Notable alumni include Space Intelligence, a provider of climate monitoring solutions; Inicio.AI, which enhances efficiency in debt management for businesses; and Carcinotech, an Edinburgh-based firm specialising in 3D-printed micro-tumour technology that secured over £4 million in January to advance its research.

Since its inception in 2018, the AI Accelerator has seen its participants secure over £67 million through external investments and grants. The University of Edinburgh, ranked in the UK's top five for Data Science by the current QS World University Rankings and leading the UK for informatics research as per the 2021 Research Excellence Framework, offers substantial academic expertise through its large computing science and informatics centres.

The 2024 programme will be delivered both digitally and in person by the University of Edinburgh’s Bayes Centre, a leading Innovation Hub for Data Science and Artificial Intelligence, in partnership with Edinburgh Innovations, the university’s commercialisation service. This initiative is supported by all the university’s Data-Driven Innovation Hubs.

Among the recent cohort were companies such as MySmash Media, a platform linking film and TV creators with commissioning decision-makers; Bennu.ai, creators of an automated waste-sorting bin aimed at achieving a net zero circular economy; and Dyneval, a life sciences company improving male reproductive health.

Fiona Gillies, CEO and Co-Founder of MySmash Media, said: “The six months we spent with the AI Accelerator programme made a significant impact on our company by helping us identify and further develop commercial opportunities to reach new markets. Along with high calibre mentoring and guidance, the programme was also instrumental in opening doors to potential investors and grant funding channels which are key in helping scale an AI-driven business like ours.”

Professor Ruth King, Director of the University of Edinburgh’s Bayes Centre, said: “We’re delighted to be marking the fifth year of our AI Accelerator programme which supports AI-driven businesses to further commercialise their proposition and become world leaders in their field. We are proud to have supported over 80 companies in their growth journey by offering mentoring and guidance while opening access to new networks to help them secure funding and investment.

“AI has become increasingly prominent as a disruptive technology impacting all aspects of our lives. The University of Edinburgh has been recognised as a world leader in AI research for more than 60 years. We understand the importance of utilising this technology in an ethical and trustworthy manner to deliver social and economic benefits. We now look forward to receiving applications from innovative and ambitious scaleups from within Scotland and across the globe which use AI to tackle key societal challenges.”