EU Awards €1M and Supercomputer Access to Top AI Startups

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EU Commission awards Large AI Grand Challenge prizes to innovative European AI startups and SMEs

Today, Commissioner for internal market Thierry Breton is awarding four European artificial intelligence (AI) startups prizes from the Large AI Grand Challenge, launched on 23 November 2023.

The Grand Challenge aims to recognize forward-thinking startups and SMEs that have developed ambitious strategies and demonstrated a commitment to creating large-scale AI models that will enhance Europe’s competitiveness in the global market.

Out of the 94 proposals received, the winners of the Large AI Grand Challenge are as follows:

– Tilde (Latvia): Specializing in natural language processing (NLP) and machine translation.
– Textgain (Belgium): Enabling companies and governments to extract valuable insights from unstructured data.
– Lingua Custodia (France): A Fintech company focused on AI and natural language processing (NLP) within the finance sector.
– Unbabel (Portugal): A language technology company headquartered in Lisbon.

The winners will collectively receive a total prize of €1 million and gain access to extensive supercomputer resources on two of Europe’s top supercomputers, LUMI or LEONARDO, for a combined total of 8 million hours.

This supercomputing power will be utilized by the winners over the next 12 months to develop innovative large-scale AI models. Subsequently, the developed models are expected to be released under an open-source license for non-commercial use or shared through the publication of research findings.

Organized by the EU-funded project AI-BOOST, the Large AI Grand Challenge reflects the EU’s dedication to fostering excellence in the field of artificial intelligence and driving innovation across Europe’s startup and SME landscape.

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Frequently Asked Questions (FAQs) Related to the Above News

What is the Large AI Grand Challenge?

The Large AI Grand Challenge is an initiative launched by the EU Commission to recognize and award innovative European AI startups and SMEs that have developed ambitious strategies in the field of artificial intelligence.

How many proposals were received for the Large AI Grand Challenge?

A total of 94 proposals were received for the Large AI Grand Challenge.

Who are the winners of the Large AI Grand Challenge?

The winners of the Large AI Grand Challenge are Tilde from Latvia, Textgain from Belgium, Lingua Custodia from France, and Unbabel from Portugal.

What prizes do the winners receive?

The winners collectively receive a total prize of €1 million and access to extensive supercomputer resources on the LUMI or LEONARDO supercomputers for a combined total of 8 million hours.

What will the winners do with the supercomputing power?

The winners will utilize the supercomputing power over the next 12 months to develop innovative large-scale AI models, which are expected to be released under an open-source license for non-commercial use or shared through the publication of research findings.

Who organized the Large AI Grand Challenge?

The Large AI Grand Challenge was organized by the EU-funded project AI-BOOST, reflecting the EU's commitment to fostering excellence in artificial intelligence and driving innovation in Europe's startup and SME landscape.

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

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