Cesc Maymo / Contributor / Getty Images

As more companies incorporate generative AI technology into their existing tech, it's becoming the latest and greatest tech boom for companies to jump on. And for startups that promise new, exceptional, and innovative ideas in AI, Amazon Web Services' AWS Generative AI Accelerator program offers a leg up.

The AWS Generative AI Accelerator is geared toward the best startups in the industry that need AWS' resources to take their ideas to the next level. AWS will provide selected startups with a number of tools to grow their company, like access to AI models, market strategies, and machine learning stack optimization.

Also: The best AI chatbots

The selected startups will also have the opportunity to network with investors and potential customers, as well as receive$300,000 in AWS credits to put towards building their products. AWS says the candidates that will receive the most benefit from the program should have a minimal viable product, a growing customer base, and "be working to enhance their product value proposition in order to scale."

The AWS Generative AI Accelerator is open to all startups from around the world, but the companies already building their tech on AWS will receive the most benefit from the program. The accelerator program will last for 10 weeks.

Also: Okay, so ChatGPT just debugged my code. For real.

The application for the AWS Generative AI Accelerator opens on April 4 and will remain open until April 17. The accelerator's participants will be announced in late April. 

Runway, one of AWS' startup customers, harnessed the power of AI tools to create Gen-2, a multimodal AI system that can create unique videos with text, images, or video clips. The technology was created out of a collaboration between Runway, AWS, and Nvidia. 

Also: AI could automate 25% of all jobs. Here's which are most (and least) at risk

Runway's AI Magic Tools are being used in the filmmaking industry and, most notably used in the Oscar-winning picture, "Everything, Everywhere, All At Once." 

Artificial Intelligence

The impact of artificial intelligence on software development? Still unclearAndroid 14's AI-generated wallpapers are super fun. Here's how to create themAI aims to predict and fix developer coding errors before disaster strikesGenerative AI is everything, everywhere, all at once

• The impact of artificial intelligence on software development? Still unclear
• Android 14's AI-generated wallpapers are super fun. Here's how to create them
• AI aims to predict and fix developer coding errors before disaster strikes
• Generative AI is everything, everywhere, all at once