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Google has been going all-in on artificial intelligence and machine learning for some time now, and part of that is, of course, nurturing the growing ecosystem around it, from developer tools to startups. Their latest effort, Launchpad Studio, targets one vertical at a time, fostering startups looking to make deep changes to industries lagging behind the cutting edge; the first batch is aimed at the data-rich medical world.
The Studio is independent of Google’s accelerator and investment organs, and, in fact, doesn’t invest at all in the companies it works with. It’s more about tapping the knowledge and hunger found in startups to identify future areas of investment and development.
It’s rather a competitive advantage Google has that this program doesn’t need to turn a profit or produce an impressive portfolio; it can burn money supporting and doing due diligence around smart ideas and cutting-edge algorithms, essentially outsourcing a portion of R&D and opportunity hunting while generating goodwill.
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