Diverse Pitches Highlight AI Innovations: Startups Present Solutions at Founder Drinks
The pitches varied widely, ranging from solutions to support teachers and students, to a wearable designed to prevent sports injuries. Other presentations included data support for green investments and AI solutions for effective leadership in the workplace to prevent burnout. Scaling a plan into a business often requires external financial support, but choosing the right type of funding depends on the stage of the company.
Appropriate Funding
The right funding is closely linked to the company's stage and vision, as discussed in the panel with Eva de Mol (CapitalT), Joost Tervelde (AntwoordPlus), and Saskia Leenstra (Oost NL). Companies with a technological edge might self-fund by generating their own revenue and minimizing costs (bootstrapping), while a passionate business angel can provide both financial support and advice. In the early stages, early-stage funding can help demonstrate a Proof-of-Concept, whereas Venture Capital funds like CapitalT or Oost NL can be valuable later in the process.
Happy Founder Planet
Regardless of the appropriate funding form, money isn't the only challenge. A strong focus on technology can lead to tunnel vision, or 'Happy Founder Planet,' as Tervelde puts it. Engaging with (potential) customers and surrounding oneself with people willing to provide critical feedback increases the chance of success.
Pitching as the Next Step
As the next step in their development, entrepreneurs like Huawei Wang of the Enschede-based startup wearM.AI are pitching their ideas. They are working on a smart wearable with a camera that provides real-time feedback to prevent sports injuries. "By leveraging computer vision, large datasets, and powerful AI, we aim to create a user-friendly solution that helps people exercise better without the fear of injury. For us, events like this are crucial to connect with like-minded entrepreneurs, valuable network partners, and potential future investors," Wang said.
Another startup, AERO, focuses on drone technology. Security services currently use drones of Chinese origin, which do not guarantee data safety. Alexander Nieuwland aims to develop hydrogen drones that can autonomously cover long distances using AI. Nieuwland remarked, “AI helps manage weather conditions and recognize situations. We address two issues: the limited range of electric drones and keeping sensitive data within Europe. This was our first time pitching in this manner, and it was a valuable exercise, we hope to expand our network and learn from others.”
AI-hub Oost-Nederland
The event was organized by AI-hub Oost-Nederland, where entrepreneurs, knowledge institutions, and governments in the region collaborate on AI applications for a more sustainable and healthier life. AI-hub Oost-Nederland is a partner of NL AIC, involved in AiNed, and part of a national network of seven regional AI Hubs.
