Microsoft sponsors AI challenge for entrepreneurs

Microsoft and Banco Santander are teaming up together with Oxentia Foundation to launch a new challenge for entrepreneurs across 11 different countries. The challenge will mainly focus on finding innovative AI solutions that aim to mitigate issues affecting society.

The challenge is open to entrepreneurs from the US, Germany, Chile, Mexico, Argentina, Poland, Uruguay, the UK, Portugal, Mexico as well as Brazil. You can apply to take part in the challenge from now through to April 27.

What’s in store for you once you win the challenge? Aside from getting the chance to attend the award ceremony in Silicon Valley which is set to take place later this year on June 29, the top six projects will also get 120,000 euros in prize money.

The 120,000 euros will be split into two categories, with the first category getting 30,000 euros. The share will be split among the top three startups, and each of them will receive 10,000 euros.

As for the remaining 90,000 euros, it will be split among the top three scaleups. Each of them will receive 30,000 euros. Additionally, the winners will get the opportunity to become Santander X 100 members. Santander X 100 is essentially designed to provide its members with all the necessary resources to elevate their businesses to the next level.

What’s more, the winners will also get the opportunity to work side by side with Microsoft experts in artificial intelligence and get mentorship. They’ll also be able to leverage this opportunity and get to present projects to M12.

Microsoft’s General Manager EMEA – Data & AI, Jens Hansen has indicated that:

At Microsoft, we have always viewed technology as a catalyst for progress, and we believe that AI will have a positive and transformational impact on our lives if used responsibly. We are committed to democratizing the use of AI, which is why we are delighted to join Banco Santander in the Santander X Global Challenge | The AI Revolution.

In addition, winners will be mentored by Microsoft experts in artificial intelligence to present projects to M12, Microsoft’s venture capital initiative.

via: Fintech Finance News