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Sequoia Capital woos Chinese start-ups with US$1 million in seed funding, ChatGPT insight amid Washington’s potential investment restrictions
- Local entrepreneurs selected for Sequoia China’s accelerator programme have the opportunity to obtain ‘no less than US$1 million in seed funding’
- This year’s programme has a special module focused on artificial intelligence -generated content amid high interest on the mainland in ChatGPT
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The China arm of Sequoia Capital, one of the top technology industry investors in the country, expects up to 30 Chinese entrepreneurs to join this year’s edition of its accelerator programme, as the venture capital firm continues to bet big on local start-ups amid Washington’s potential new investment restrictions.
Beijing-based Sequoia Capital China said those selected to take part in its accelerator programme, named Yuè, would each have the opportunity to obtain “no less than US$1 million in seed funding”, according to a company spokesman on Tuesday.
There are 744 people who have registered to participate in the programme, which will run from May 12 to June 24, the company said in an earlier statement on the same day.
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This year’s programme will offer a special module focused on artificial intelligence-generated content (AIGC) amid high interest on the mainland in ChatGPT. Silicon Valley-based Sequoia Capital is an investor in San Francisco start-up OpenAI, which developed the viral AI chatbot.
The special module is expected to bring “exclusive perception” and “constructive inspiration” to entrepreneurs who are interested in “making a big splash in the AIGC field”, according to the Sequoia Capital China statement.
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