Event Recap: The Opportunity of Risk
Event Recap: The Opportunity of Risk
Stanford students present innovative startup solutions addressing systemic risks, from environmental challenges to technological disruptions.
The Stanford Program in Science, Technology & Society (STS) student Startup Pitch Session, organized by CISAC Research Scholar Trond Arne Undheim, brought together students from Designing Regenerative Societies (STS 139) and The Future of Systemic Risk (STS 156) to deliver innovative startup concepts addressing societal and technological risks. Leveraging the unique opportunities presented by these accelerating and unpredictable risks, 10 groups of students or individuals presented pitches at the session titled The Opportunity of Risk, tackling environmental, geopolitical, and technological challenges that interact, cascade, and are now reaching tipping points.
In a five-minute presentation, each group or individual presented to a distinguished investor panel consisting of Paul Aiello, CEO of C.M. Capital Corporation, Mike Lin, Co-founder and General Partner of Dangerous Ventures, Ronjon Nag, President of R42 Group and Faye Sahai, Founding Managing Partner of Telosity Ventures.
The investors evaluated each presentation based on the three criteria points: potential risk impact, presentation clarity and business viability. The potential risk impact criterion assessed how well the startup's solution addresses significant risks and challenges within its target industry or society, focusing on the effectiveness in mitigating or managing systemic risks. The presentation clarity criterion evaluated how well the team communicated their project, including the organization and structure of the presentation, the use of visual aids, and the ability to convey complex information in an understandable manner. The business viability criterion referred to the feasibility and sustainability of the startup's business model, considering factors such as market potential, revenue streams, scalability, and overall financial health.
With criteria established and the investor panel in place, the session proceeded with each team and individuals presenting their innovative solutions, showcasing how they address, mitigate, or consult on the pressing societal and technological risks of our time.
Motion Grid, created by Isabella Duncan, Jennifer Lin and Emmanuella Tchakmakjian, focuses on lowering energy costs and reducing carbon emissions by installing cutting-edge Piezoelectric tile technology, designed to convert pedestrian and cyclist movements into usable electricity. Showcasing the success stories of sites like the Netherlands Dance Club and the Portugal Bridge the team illustrated the practical viability and substantial impact of their innovative approach.
Carbon Connect, created by Jackson Kiil, addresses carbon neutrality throughout communities in underbanked regions by developing a blockchain-based platform enabling transparent carbon offsetting while empowering underserved communities through direct investment in local sustainability projects. Tackling lack of transparency, financial exclusion and inefficiencies in tracking and managing the environmental impact, Kiil produced solutions through community investment and impact tracking of offset projects on an immutable blockchain ledger.
InvasiveAI, by Nathan Elias, uses artificial intelligence (AI) to find and fight the spread of invasive species negatively impacting state and national parks, as well as the agricultural industry. Through AI, individuals will be able to use automatic smartphone camera detection and dynamic forecasting heat maps to identify and project invasive species growth. Additionally, the platform facilitates a collaborative approach among park rangers, farmers, and conservationists to preserve ecosystems and protect crops.
CozyNest, by Fathuma Mohamed, connects individuals seeking micro-living options (tiny homes, co-living spaces, accessory dwelling units) with compatible homeowners or property managers. Targeting issues such as rising housing costs, environmental impact of oversized housing and social isolation, CozyNest promotes efficient housing utilization, reduces construction waste from new builds and fosters a sense of community among micro-living residents.
HEALTHaiD, by Kathryn McMahon, provides a more reliable and efficient software platform that monitors, evaluates, and limits artificial intelligence risks in healthcare systems to ensure patient safety and data integrity. With current problems in the healthcare system, such as unreliable AI models and data security, its proponent predicts this software will reduce AI-related errors by 50%, reduce risks of data breaches by 40%, and reduce the risk of overall likelihood of malpractice suits.
AgSys by Lovejit Gil, ensures greater access to solar panels for crop processors and farmers in California's Central Valley by installing panels that will be shared by mainly small-scale farmers. This approach not only reduces energy costs but also promotes sustainable agricultural practices and supports local economies.
UraTrack, by Hudson James Rivera and Max George Basing, uses a blockchain platform focusing on real time tracking and verification of uranium. On the blockchain, UraTrack monitors uranium shipments continuously and secures every transaction and movements on the blockchain. The proponents believe this platform will have a predicted 80% reduction in theft and diversion, 50% increase in revenue through UraTrack certification and eligibility for government contracts and 20% reduction in operational costs through efficiency of blockchain networks.
Student Taught University (STU), by Harsh Parikh, Kyle Kang and Samir Banerjee, encourages students to teach one another, fostering an environment of sharing knowledge. Addressing the lack of personal connection, limited tutoring opportunities, and untapped university prime resources (students), STU offers personalized tutoring through a network of top-performing students who excel in exact courses. Additionally, Students offering expertise have the ability to capitalize on the success in their mastered subjects further cultivating a culture of knowledge exchange.
Planet Pioneers, by Melany Herrejon and Arianna Aalami, confronts the lack of engagement, knowledge and the feeling of powerlessness that can often hinder progress and prevent individuals from taking meaningful action towards climate change. Through Planet Pioneers individuals will have the opportunity for an interactive educational experience that highlights the importance of climate action and empowers them to make a difference.
RISK.E, by Daniel Ryan McFadden and Mackenzi Cobb, uses crowdsourcing for risk analysis which leverages the collective knowledge, perspectives and experiences of a diverse group typically done by experts or a small team. Using tactics such as, an app-based news feed, game-ification with friends and multiple-choice quizzes users will be better equipped to predict problems, find solutions and explore human intuition for quick and easy data collection.
In summary, the Stanford Program in Science, Technology & Society (STS) student Startup Pitch Session showcased an impressive array of innovative projects addressing critical societal and technological risks. The event highlighted the creativity and expertise of the student teams as they presented solutions to pressing challenges.
As the session drew to a close, the investor panel crowned two winners, InvasiveAI and Student Taught University, for their exceptional potential to make a significant impact in their respective fields. These winners, along with the other innovative startup concepts, exemplify the promising solutions that emerged from the session, each contributing uniquely to addressing the complex and interconnected risks of our time.