The initiative, called AI Innovators, was announced during an event aimed at Brazilian media and developers.
This investment is part of a broader commitment by Lenovo, which will allocate a total of USD$1,000 million to artificial intelligence development over the next three years.
The initiative, already implemented in other parts of the world such as Europe, North America, and Asia-Pacific, has had a third of its 70 participants in the United States.
In addition to creating an ecosystem with more than 150 artificial intelligence applications, the technology company has also financially supported seven Brazilian startups specializing in AI through its accelerator fund, Lenovo Ventures.
Among these startups are Monux, CTA Smart, InfoPrince, SYOS, Beegol, IBBX, and Rumina.
Nicholas Borsotto, head of Lenovo AI Innovators, explained that the goal is not only to focus on AI technology but also to meet customer needs.
The company’s vision is not limited to a ‘winner takes all’ approach but aims to build an inclusive community, identifying potential leaders in artificial intelligence, including smaller and regional partners.
“It can’t be a very large ISV because we want to work with customers and partners. We are looking for companies with great solutions and technologies that have an impact. But that are not so much (in) the research phase,” Borsotto said.
Lenovo intends to bring together customers and technology partners in various areas and use cases.
The sectors the company is exploring opportunities in include retail, manufacturing, smart cities, finance, and health, among others.
Currently, the program has more than 70 startups in various stages of development worldwide, with a collective market value exceeding USD$10 billion.
Applications created in the Lenovo ecosystem have generated revenue totaling USD$500 million.
Among the companies that have found success in this program are prominent names such as NVIDIA, SAS, IBM, and Aston Martin.
They have leveraged the advantages of the ecosystem to implement artificial intelligence technologies in various sectors, such as the Aston Martin F1 team and smart city applications in Barcelona and Santiago.
The program provides support to startups in three stages, from exploratory to those looking to expand into new markets, offering laboratories, marketing support, market testing, sales, expertise, internationalization support, and logistics in return.