XiByte, a Tampa company with artificial intelligence technology to help entrepreneurs, has been accepted into AI Ventures, an Australian tech incubator.
XiByte will participate in a 12-week cohort, which is being held virtually because of the Covid-19 pandemic. Participation in the program will help XiByte enter the Australian market and raise capital, said Sat Ramphal, CEO.
Australia is a good fit for XiByte’s core product, Maya, an artificial intelligence-powered advisor and virtual assistant for startup founders. Maya advises entrepreneurs about the operational tasks and steps they need to take and facilitates that work through XiByte’s 1,500-member corporate partnership network that includes law firms, accountants and marketers, among others.
“Australia is one of the top five countries in the world for being the most active in entrepreneurship, which is our targeted customer base,” Ramphal said. In addition, “Australia has some of the best AI programs in the world, and we are confident that the array of advisors will help create Maya to be much more intelligent and efficient when helping customers.”
The company wants to raise $400,000 for product completion and Australian market validation, he said.
AI Ventures, based in Sydney, said its incubator program is an intensive course tailored towards early-stage artificial intelligence-based startups. The program is designed to equip founders with expertise, knowledge and a supportive network of mentors.
Ramphal also is in talks with the University of Sydney, which could implement Maya before the end of the year, he said.
“The company has been actively engaging with universities and colleges. Ramphal previously said Hillsborough Community College would use Maya in three classes this fall. The City University of New York (CUNY), with eight campuses, is using Maya, and pilots are underway at University of Miami and three other schools”, Ramphal said.
Additionally, XiByte is in talks with the city of Toronto, which has several business development centers.