Business News Report
July 18, 2023

Payments Infrastructure Provider Paddles Launches $10M AI Program to Support Software Founders

In Brief

Paddle is launching a 6-week programme to support software founders in building AI-powered products.

The AI Launchpad will offer expert mentorship, a cash prize of $25,000, and access to a collaborative community.

Founderpath, a $150 million fund for SaaS founders, has allocated $10 million in funding for selected participants of the AI launchpad.

Paddle, a payments infrastructure provider for software companies, today announced AI Launchpad, a 6-week program that will support software founders in building, launching and scaling AI-powered products. 

The AI Launchpad aims to accelerate the founders’ growth through engaging masterclasses and interactive workshops led by industry experts. These sessions will cover essential topics related to SaaS scaling, such as product and go-to-market (GTM) strategies, finance and operations, and industry positioning.

Paddle said that it launched the AI program after seeing rapid growth among AI software businesses, with a 337% growth in revenue in the last 12 months. AI companies including Vidyo.ai and Kaleido AI current use Paddle’s payments, invoicing, billing, tax, compliance and metrics tools.

According to Paddle’s website, the AI Launchpad will accept 30 AI founders in its first cohort. Acceptance into the program will be based on their AI business idea, their minimum viable product, and their ability to demonstrate market traction and growth potential.

As part of the program, Founderpath, a $150 million fund dedicated to supporting SaaS founders, has set aside $10 million in funding specifically for selected participants who successfully complete Paddle’s programs. Other partners and contributors for AI Launchpad will include AWS Activate, SaaStock, Toplyne, Banana, PartnerStack, Enablix, Kustomer, ArK Kapital, SaaS Launch, and Startup ROI.

Participants in the AI Launchpad can benefit from:

  • Expert mentorship from software industry leaders.
  • The opportunity to meet, connect, and collaborate with like-minded individuals. There will be weekly peer coaching calls and Slack channels.
  • A cash prize of $25,000 for one founder.
  • Free access to products, credits, masterclasses and industry events from partners.
  • Co-marketing events with Paddle and its partners.

Commenting on the launch, Christian Owens, founder and executive chairman of Paddle, said: “2023 has seen a Generative AI boom, with companies in the space securing $1.3bn in the last few months. However, having a great product is just the first challenge in a very competitive space. No matter how smart your AI tool, you won’t be able to scale your company to its full potential without the right growth strategies and infrastructure in place. That’s why we’re thrilled to unveil AI Launchpad, a programme aimed at upskilling some of the ecosystem’s most ambitious AI founders.”

Applications for the AI Launchpad open today, Jul 18, and will close on Aug 31. Those interested in joining the program can apply here.

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About The Author

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

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Cindy Tan
Cindy Tan

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

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