Skymind Global Ventures (SGV) has just announced that it will be opening a new office in the capital. This will be an extension of its current office that is in Hong Kong.
This follows the announcement of a whopping $800 million fund by SGV. The fund will be used to help back new and exciting AI startups, as well as helping to facilitate academic research.
Who is Skymind Global Ventures?
SGV, is a company that helps other organisations and companies to launch their AI applications. The firm does this by providing them with supported access to an open-source AI tool called ‘Eclipse Deeplearning4j’ that they provide.
Why is SGV opening offices in London?
SGV has stated that it will be opening offices in London due to the huge potential the capital offers for its plans.
The founder and CEO of the firm, Shawn Tan, said that having additional offices in London would be a ‘strategic move for us’. He believes that the city has the key factors that will help SGV grow, such as a considerable amount of access to investment, diverse talent and a very well-established technology hub.
It also overlaps with the business hours in Asia, Europe and elsewhere, which was another cited reason why the founder chose the capital.
AI growth capital of Europe
Another important reason why Skymind Global Ventures has decided to open offices in the UK, specifically London, is because it is considered to be the AI growth capital of the EU.
What are the plans for the London office?
SGV intends to use the London office to focus on back research as well as for development purposes. It will be also used as a hub to generate additional business opportunities across both Europe and Asia.
Plans to train up to 200 AI professionals
The firm has also revealed the exciting news that it is looking to train around 200 AI professionals ahead of its new operations in Europe.