Want to learn the best business insights from remarkable speakers at Slush 2023, but don’t have the time to watch the full speeches on YouTube?
You’ve come to the right place. Below is a summary of a speech by Samuel Müller, co-founder and CEO of Scandit.
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<p class="h1-rich">🤏 TL;DR</p>
Scandit, a machine learning and computer vision-based algorithm provider, reflected on its 14-year journey from the lab to the market, highlighting the importance of leveraging the academic environment, talent identification, IP transfer and protection, and founder alignment. Action items include developing a strategy to leverage the academic environment for resources and talent, identifying and attracting key engineering talent, creating a comprehensive IP transfer strategy, and maintaining alignment among founders.
<p class="h1-rich">✨ Summary</p>
Overview of the Journey
- The speaker reflects on the 14-year journey of their company, Scandit, from the lab to the market.
- They discuss leveraging the academic environment and ecosystem in the early years.
- They highlight the importance of technology transfer and protecting intellectual property.
- They emphasize the need for alignment and strong relationships among the founders.
Empowering Frontline Workers with Smart Data Capture Solutions
- Scandit provides machine learning and computer vision-based algorithms to recognize objects, barcodes, and price labels.
- They aim to enable interactions with physical goods in retail or logistic settings.
- The company was founded in 2009 as a spin-off company of ETH Zurich.
Early Years: Leveraging the Academic Environment
- The founders leveraged the academic environment by accessing resources, talent, and funding.
- They maintained research projects, collaborated with professors, and participated in entrepreneurship competitions.
- This allowed them to access space, equipment, talent, funding, and exclusive programs and networks.
Talent Identification and Access
- Scandit identified and hired key engineering talent from academic institutions, particularly ETH Zurich.
- They offered compelling math and research project work to attract and retain talent.
- This helped them stay up to date on relevant research and bring in expertise to solve technological problems.
IP Transfer and Protection
- Scandit negotiated agreements to protect and leverage their intellectual property for commercial purposes.
- They retained optionality through different licensing models for potential go-to-market scenarios.
- This allowed them to have full control over their IP and facilitated funding rounds and potential acquisitions.
Founder Alignment and Relationship Building
- The founders emphasized the importance of maintaining an aligned vision and complementary skills.
- They recognized the need for ongoing alignment, role definition, and timeline synchronization.
- Investing in strong relationships and open communication within the founding team was crucial for long-term success.