SAN FRANCISCO, CA, DEC 14, 2023 - Vellex recently concluded an insightful journey at the National Science Foundation's (NSF) I-Corps program facilitated by the I-Corps Mid-South hub. With Palak Jain assuming the role of entrepreneurial lead and Jason as the technical lead, the Vellex team, under the mentorship of Naeem Malik, delved into two months of rigorous customer discovery. The experience proved to be a pivotal moment for the Vellex team, providing invaluable insights into potential markets and solidifying their business strategy.
At the heart of Vellex's innovation lies a groundbreaking hybrid computing platform. This unique technology combines the efficiency of analog electronics with the precision of digital systems, enabling real-time data analysis and control at the source of data generation. As the Vellex team often emphasizes, their technology excels at solving complex mathematical problems with remarkable speed and efficiency.
A cornerstone of the NSF I-Corps program is the opportunity to connect with industry leaders and potential customers. The Vellex team conducted an impressive 125 interviews, all aimed at identifying key "beachhead" markets for their innovative platform. This extensive outreach allowed them to gain a deeper understanding of customer needs and challenges across various sectors.
The I-Corps program provided Vellex with several critical insights:
The I-Corps experience led Vellex to refine its business model and solidify its go-to-market strategy. They identified two primary markets:
Ultimately, Vellex decided to prioritize the grid technology market, recognizing the significant impact their technology could have on this critical infrastructure.
Vellex's participation in NSF I-Corps marks a significant milestone in their journey. Armed with valuable customer insights and a refined business strategy, the team is now focused on the next steps:
Vellex is poised to make a significant impact in the world of hybrid computing, and their experience at NSF I-Corps has undoubtedly set them on a path to success.
Founded in 2021 as a Stanford University spin-off, Vellex Computing is advancing AI with a revolutionary Analog Intelligence platform. Headquartered in San Francisco with a design office in Delhi, India, we deliver ultra-fast and efficient computations, increasing performance per dollar by 100X. Our physics-based architecture provides real-time results for complex optimization and control problems - tasks that take hours on traditional computers - while consuming only a fraction of the power.
The National Science Foundation’s I-Corps program is designed to help researchers and scientists translate groundbreaking discoveries into market-ready innovations. By combining entrepreneurial training with mentorship, it equips teams to test business models, identify customer needs, and reduce commercialization risks. The program serves as a critical bridge between academic research and real-world impact, fostering startups that drive technological and societal progress.
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