HomeUKPaddle Launches Second Launchpad For AI Founders

Paddle Launches Second Launchpad For AI Founders

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Paddle, a London, UK-based payments infrastructure provider, has opened applications for its second AI Launchpad.

AI Launchpad is a 6-week program aimed at powering 50 ready-to-scale, AI-focused companies to build, launch and scale their AI-powered business ideas. Participants in the expanded 2024 program will gain access to tailored guidance and practical insights from industry experts and will have the chance to win a $20k cash prize from Paddle for the best offering, as judged by a panel of experts, as well as other benefits from Paddle partners.

Through its AI Launchpad program, Paddle is offering the support they need to accelerate their growth and monetize their AI products.

Founded in 2023, Paddle AI Launchpad selected Virtual Staging AI, a platform that allows real estate professionals to sell properties faster by using AI to digitally furnish images of empty rooms, as the winner of the inaugural program. The company has since seen revenue increase 10x, from a monthly revenue of $20,000 to $200,000. Other members of the 2023 cohort also saw a significant positive impact on the revenue and scalability of their businesses thanks to the expert insights and go-to-market strategies provided on the programm including SiteGPT, Aibo, Riju, Bulby, and Jotverse.

Following the success of the 2023 program, Paddle has doubled the number of places on the program from 25 to 50. Participants will also now have exclusive access to the “Launchpaddlers” community – a hub for Launchpad alumni to network and share resources. Through this community, AI founders will be supported with data, advice, and tailored content, and will also have access to experts in their sector. 

Founderpath, a $150m fund for SaaS founders, will again allocate $10 million in funding for selected participants who complete Paddle’s programs, providing additional opportunities and resources to further accelerate their growth. Other partners and contributors for AI Launchpad will include SaaStock, AWS Activate, Google Cloud, PartnerStack, GoodFit, saaslaunch.io, Gilion (formerly ArK Kapital), Enablix, saas.group, SquareOne, and Element Communications.

Key elements and benefits of the program will include:

  • Expert mentorship: Participants will receive personalised, technical guidance from industry experts at Paddle, based on its decade-plus of experience scaling software and AI businesses through effective pricing and payment strategies. 
  • Cash Prize: The program will culminate with a cash prize of $20,000 for one founder. This substantial financial boost will catapult the development and market reach of the winning startup.
  • Additional benefits from partners: Participants will receive new perks from Paddle’s partners, including $350k in credit from Google Cloud, $20k in credit from AWS Activate, and free tickets to Founder community events by Code.talks and SaaStock. Fast-tracked entries into SaaStock’s startup competition will also be reserved for select Launchpad finalists.

Applications for the AI Launchpad will be open from 12th March to 14th April 2024, with the program beginning in May. For more information on how to apply for AI Launchpad, including terms and conditions, please visit www.paddle.com/ai-launchpad.

VCWire

13/03/2024