LabVidix Inc. is developing an enterprise AI/ML video recording and analysis software platform for drug development. The potential savings for key industries is over $500B. By automating video capture, cataloguing, and analysis of laboratory-based drug development processes, LabVidix can help reduce the 30% of total R&D cost spent on documentation.
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Application
Applications as a Team with members from multiple disciplines is favored. However, solo applicants are also very welcome – if you are accepted, you’ll be assigned to a Team. Teams with a Rady graduate student are strongly preferred. Students may apply for more than one Venture Fellows Project but assigned to only one.
Academic and CCR Credit
Credit: Rady second-year graduate students may pursue this project as a 2 Unit Independent Study—MGT 499. Team members in Schools outside of Rady may appeal to their respective departments for Independent Study credit per their department policies.
Non-Credit: Any participant may pursue this project without academic credit.
Students will be able to include their participation as Co-Curricular Credit and on their resumes. They will receive a letter of completion from the Center, pending a final review by the Founder, Mentor, and the Center’s Executive Director.
Approximate Scope and Timeline
WKS: 2-5: MARKET: Provide a quantitative market analysis on the initially identified application Provide market sizing analysis for each segment and submarket. Provide a market sizing analysis for the combined market (TAM, SAM, SOM). Identify companies and technologies that are/could be potential competitors in the space and articulate why. Articulate the advantages/differentiators and the weaknesses relative to the competition/competing technologies. Provide a comparison of the technology’s benefits against potential competition.
WKS 5-7: CUSTOMER DISCOVERY-INTERVIEWS: Create questions and a script for interviews with laboratory-based personnel. Conduct 10-15 interviews with lab researchers, capturing insights into their problems and the potential for LabVidx to address those problems. Extract key insights, value-add opportunities and potential challenges for LabVidx.
WKS 7-9: INTELLECTUAL PROPERTY: Conduct prior art research in patent databases; identify top IP holders in the lab workflow video domain and identify claims that may impact LabVidX.
Deliverables
The Venture Fellow Team will provide a 4-6-page report and a 5-7 slide PowerPoint presentation including its findings, sources, recommendations, and other elements outlined under Scope. Include the raw notes of customer interviews. The report will also include a discussion of challenges the team faced in securing its results, reflections on the Venture Fellow experience, and any recommendations the team may have regarding the Venture Fellows process.
Timeframe
The project will begin in mid-late October, 2023. It will require approximately 5-7 hours per week for 7-8 weeks, including a weekly zoom meeting with the founders and project mentor. Working on the project may also require in-person meetings.
Deliverables
The Venture Fellow Team will provide a 4-6-page report and a 5-7 slide PowerPoint presentation including its findings, sources, recommendations, and other elements outlined under Scope. The report will also include a discussion of challenges the team faced in securing its results, reflections on the Venture Fellow experience, and any recommendations the team may have regarding the Venture Fellows process.
Time Frame
The project will begin in mid-late January 2024. It requires approximately 5-6 hours per week for 7-8 weeks, including a weekly zoom meeting with the Founders and Project Mentor. In-person meetings may also be required. The project may continue into the first 1-2 weeks of Spring quarter.
Expectations
The Fellows will work diligently and professionally with the Institute’s Executive Director, the Science Lead, and Mentor. The Fellow(s) will meet for ~90 minutes for a kick-off meeting with the leadership team and others relevant to the project.
The Team is expected to work independently and meet with the Founders and Mentor for approximately 60-75 minutes once a week for the project duration to report on progress and discuss any questions or issues. The Team may also be required to meet and report to the Center’s Executive Director or others on a more regular basis.
The Fellows must be comfortable with self-learning and exploring areas with which you may not be familiar. Fellows are responsible for learning what is necessary to provide the deliverables.
The Fellows should be comfortable working as a Team with people you don’t know. The Team is expected to communicate effectively, to develop a work plan, to agree on the distribution of tasks, etc. Fellows are expected to work in a highly respectful and collaborative manner.
The Fellows must be comfortable with being accountable for your deliverables with high quality and with discussing any challenges you may have in accomplishing your tasks.
The Fellows should be comfortable with course corrections. It is highly like that adjustments will be made in the scope and the direction of particular tasks.
Toward the project’s conclusion, the Venture Fellow(s) will meet with the Founders, the Mentor, and the Center’s Executive Director for a 90-minute discussion of the team’s findings. The entire team, including the Founder and Mentor, will be available for a photo.
APPLY BY: Wednesday, January 10 at 5:00 p.m.
Early applications are encouraged.
*𝘏𝘪𝘴𝘵𝘰𝘳𝘪𝘤𝘢𝘭𝘭𝘺 𝘵𝘩𝘦 𝘜𝘯𝘪𝘷𝘦𝘳𝘴𝘪𝘵𝘺 𝘰𝘧 𝘊𝘢𝘭𝘪𝘧𝘰𝘳𝘯𝘪𝘢 𝘩𝘢𝘴 𝘤𝘭𝘢𝘴𝘴𝘪𝘧𝘪𝘦𝘥 𝘢𝘴 “𝘶𝘯𝘥𝘦𝘳𝘴𝘦𝘳𝘷𝘦𝘥” 𝘴𝘵𝘶𝘥𝘦𝘯𝘵𝘴 𝘧𝘳𝘰𝘮 𝘨𝘳𝘰𝘶𝘱𝘴 𝘵𝘩𝘢𝘵 𝘤𝘰𝘭𝘭𝘦𝘤𝘵𝘪𝘷𝘦𝘭𝘺 𝘢𝘤𝘩𝘪𝘦𝘷𝘦𝘥 𝘦𝘭𝘪𝘨𝘪𝘣𝘪𝘭𝘪𝘵𝘺 𝘧𝘰𝘳 𝘵𝘩𝘦 𝘜𝘯𝘪𝘷𝘦𝘳𝘴𝘪𝘵𝘺 𝘢𝘵 𝘢 𝘳𝘢𝘵𝘦 𝘣𝘦𝘭𝘰𝘸 𝘵𝘩𝘦 𝘵𝘰𝘱 12.5 𝘱𝘦𝘳𝘤𝘦𝘯𝘵 (𝘰𝘯𝘦-𝘦𝘪𝘨𝘩𝘵𝘩) 𝘰𝘧 𝘵𝘩𝘦 𝘩𝘪𝘨𝘩 𝘴𝘤𝘩𝘰𝘰𝘭 𝘨𝘳𝘢𝘥𝘶𝘢𝘵𝘪𝘯𝘨 𝘤𝘭𝘢𝘴𝘴 𝘪𝘯 𝘊𝘢𝘭𝘪𝘧𝘰𝘳𝘯𝘪𝘢, 𝘪𝘯𝘤𝘭𝘶𝘥𝘪𝘯𝘨 𝘈𝘧𝘳𝘪𝘤𝘢𝘯 𝘈𝘮𝘦𝘳𝘪𝘤𝘢𝘯𝘴, 𝘈𝘮𝘦𝘳𝘪𝘤𝘢𝘯 𝘐𝘯𝘥𝘪𝘢𝘯𝘴, 𝘢𝘯𝘥 𝘊𝘩𝘪𝘤𝘢𝘯𝘰/𝘓𝘢𝘵𝘪𝘯𝘰𝘴 (𝘜𝘊𝘖𝘗: 𝘚𝘵𝘶𝘥𝘦𝘯𝘵 𝘈𝘤𝘢𝘥𝘦𝘮𝘪𝘤 𝘚𝘦𝘳𝘷𝘪𝘤𝘦𝘴, 2003).