18 Jan 2018, London: Last week, AICoin founder and First Global Credit CEO Gavin Smith attended Techvest, an AI focused start-up pitch event sponsored by the UK Business Angels Association and the Mayor of London.
Ten start-up companies pitched to about 50 potential investors in the event held at London’s City Hall. Gavin found several companies that were potentially of interest to the collective. These projects were as diverse as the markets they are looking to disrupt and many were well into the prototype phase or in one case already bringing in revenue. Funding being sought ranged from £250,000 to £1m sterling.
One of the first companies that caught Gavin’s interest was looking at the wealth of data gathered from practitioners working in UK based elder care homes. The anonymised patient data like age, weight, appetite, temperature, blood pressure and developing health issues is fed into AI that is tasked to learn how to look for warning signs of an upcoming physical problem. Another company used robots to perform inspections on work spaces that were too hazardous for human assessment. This company was already working in partnership with BOC on developing the technology. Another had AI that analysed hi-resolution photographs of skin cancers to develop pre-screening technology that used camera input data fed into AI. The goal, to make early detections of skin cancers more accurate and cheaper to identify. They were already achieving diagnosis’s that were as reliable as those received from clinical dermatologists. When most people concerned about skin issues only get to see their GP, who have a much lower identification rate. This company is already negotiating contracts with private health trusts in the UK.
The final interesting project was involved with minimising the impact of the single biggest cost to logistics companies – accidents. By using the data the logistic company already had access to such as driver age, how long they had been on their shift, road conditions, time of day and routing options they were developing software that learned to identify high risk situations and suggest ways to mitigate the risk.
Events like Techvest London are frequently free and take place all over the world. Members of The Collective that are interested in assisting us in identifying opportunities can bring their suggestions to the attention of the Investment Board. This will help us identify the first five companies to be voted on by The Collective after we have finalized the Start-up Investment Board.