Connect with us

Artificial Intelligence

Acoustic Wells wins 2019 MIT $100K Entrepreneurship Competition

Vlad Poptamas

Published

on

The Acoustic Wells team beat out seven finalists to win the Robert P. Goldberg $100,000 grand prize at the MIT $100K Entrepreneurship Launch Finale. Holding the check are, from left, Charles-Henri Clerget, Sebastien Mannai, and Louis Creteur.
Reading Time: 4 minutes

 

Acoustic Wells, a startup born in a laboratory at MIT that has created a new internet of things (IoT) control solution for oil wells that optimizes production while drastically reducing methane emissions, beat out seven finalists to win the Robert P. Goldberg $100,000 grand prize at last night’s MIT $100KEntrepreneurship Launch Finale held on the MIT campus.

Now in its 30th year, the MIT $100K Entrepreneurship Competition is an economic barometer for sectors of innovation that are receiving funding by venture capitalists. To date, the MIT $100K has facilitated the birth of more than 160 companies, which have gone on to raise $1.3 billion in venture capital and build $16 billion in market capitalization. More than 30 MIT $100K startups have been acquired by major companies, such as Oracle, Cisco, 3M, and Merck. Over 4,600 people are currently employed by MIT $100K companies. Recent IPOs include Akamai (AKAM) and Hubspot (HUBS).

A major challenge in the operation of oil and gas wells is the ability to monitor the operating conditions and health of pumping equipment without the need for prohibitively expensive equipment or daily inspections. To address this issue, Acoustic Wells has developed a patent-pending, acoustic-based control method that is capable of determining precisely down-hole conditions using a simple and affordable surface sensor. Acoustic Wells’ simple plug-and-play hardware processes the data at the edge and seamlessly connects to their cloud platform using long range IoT networks. Artificial intelligence algorithms automatically monitor the pump operation and optimize the production by adjusting the pumping rate while also predicting potential critical failures of the system.

Acoustic Wells’ founding team members are:

Dr. Sebastien Mannai, CEO, MIT PhD 2018 in Aerospace Engineering. He is currently engaged in postdoctoral work on AI signal processing in the Gas Turbine Laboratory of the Aerospace Department at MIT.

Dr. Charles-Henri Clerget, COO, who is currently engaged in postdoctoral work in the Earth Resources Laboratory with the Mathematics Department at MIT where he focuses on the big data analysis of drilling operations.

Louis Creteur, CTO and an industrial automation solution specialist who currently serves as IoT and Cloud Architect at Leanbox.

“We bring cutting edge technology in a simple package to help every oil and gas producer optimize their assets while reducing their emissions,” says Dr. Mannai.

A panel of judges chose Acoustic Wells based on value creation, value capture, and technological differentiation. Judges included: TJ Parker, Co-Founder & CEO, PillPackMira Wilczek, President & CEO, Cogo LabsThomas Collet, President, CEO & Director, Phrixus PharmaceuticalsTanguy Chau, Venture Investor; and Katie Rae, CEO & Managing Partner, The Engine.

$10,000 Audience Choice Award was presented to The Read Read, one of the finalist teams. The Read Read has created a patent pending physical device that allows blind and low-vision children to independently learn phonics and braille, and gain early literacy to keep pace with their sighted peers. Users simply touch the braille and large-print letter manipulatives, and get immediate audio feedback. It was developed at the Harvard Innovations Lab, and piloted at the Perkins School for the Blind and the Harvard Graduate School of Education.

Six additional finalists included:

AgroBeads® are biodegradable spheres made from natural ingredients that hydrate plants according to their needs and support their growth and healthy development. Plants not only grow, but they do it faster, and healthier. AgroBeads® does not pollute the environment, improves the chances of germination, and contributes to the development of technologies that impact public health.

Mechanodontics is a new method that can be used instead of braces or aligners that moves teeth independently. Placed behind teeth so they cannot be seen, this method considerably shortens treatment time, allows for easier cleaning than traditional braces, and is more comfortable. This technology, which employs state-of-the-art simulations, allows orthodontists to apply the optimal amount of force to each tooth, easily fixing even complicated mal-alignments that are not correctable with aligners.

Myco Diagnostics is creating low-cost, robust medical diagnostics, using thermostable binding proteins to capture disease biomarkers from patient samples. They are producing point-of-care assays for the detection of urine-based biomarkers of tuberculosis, allowing them to address patient groups ill-served by traditional TB tests.

Posh offers a bot-creation platform using patent-pending technology that makes it easy to tailor a custom chatbot to meet companies’ needs. Not only can Posh answer company FAQs, but it can also help a company’s customers manage their accounts and convert prospects into sales. Posh does this while interacting with customers via the channels they prefer: across text, voice, social media and the web.

Qtech The team’s MIT-educated scientists have invented 3D Nano structured air filters that provide 20x filtration performance, 10x lifetime, and are recyclable at an estimated similar cost of a traditional HEPA filter. Filters catch not only flower pollens, but also bacteria and even viruses, and there is no need for replacements in years.

Stratagen Bio develops oxygen sensors to enable personalized cancer therapies, addressing the unmet clinical need of identifying low-oxygen treatment resistant tumors. They are enabling physicians to identify which cancer patients require a customized treatment to overcome resistance and improve outcomes and survival.

John Harthorne, a founder and former CEO of MassChallenge, served as the keynote speaker. Harthorne’s team, Robopsy, won the MIT $100K in 2007. He and Akhil Nigam went on to co-found MassChallenge, a not-for-profit, in 2010. Based on the MIT $100K model, their zero-equity startup accelerator has since gone global and has accelerated 1,975 startups that have raised more than $4.3 billion in funding, generated more than $2.5 billion in revenue, and created more than 121,000 total jobs. Harthorne now serves on MassChallenge’s Global Board of Directors.

Since its debut as the MIT $10K Entrepreneurship Competition in 1989, it has grown to include three independent contests – PitchAccelerate, and Launch – from September through May. Each contest focuses on developing specific founding skills. For each semi-finalist contender, the MIT $100K brings together a network of resources that includes mentorship from venture capitalists, serial entrepreneurs, corporate executives, and attorneys; media exposure; prototyping funds; business plan feedback; and discounted services. Altogether, almost $1M in non-dilutive prize money and other financial resources are awarded to help these new ventures accelerate. For more on the MIT $100K, please visit: www.mit100k.org

SOURCE MIT Sloan School of Management

Hello!


Thank you for visiting my profile and thank you for reading my news and published press release!


There a many things that shape a man, but the carving is done by the hobbies and passions. I've pursued two main careers, professional photography and webdesign, while also keeping a passion for automobiles, technology and games. At PICANTE NEWS, I take care of news editing and press release publishing in se
veral categories and as I've mentioned, during my spare time, I am also a professional photographer with webdesign skills.

My future plans include developing more journalistic skills and start creating investigative journalism. You can find my reports and press release coverages in the following categories:


BANKING/FINANCIAL SERVICES, COMPUTER ELECTRONICS, AUTOMOTIVE, CONTRACTS, ANALYSIS, INTERNET TECHNOLOGY, BIOTECHNOLOGY, BLOCKCHAIN, ACQUISITIONS, RETAIL, and many more.



You can get in touch to discuss interviews or possible article submissions by contacting us.


Let's also connect via social media! You can find me on Facebook or visit my photo portfolio.

Advertisement
Comments

Artificial Intelligence

Malta AIBC Summit secures largest crowd for 2019

Alexandru Marginean

Published

on

Reading Time: 2 minutes

6000+ to attend Europe’s premier event for blockchain, AI, and emerging tech

 

Malta AI & Blockchain Summit will be Europe’s largest event for the blockchain, AI, and emerging tech sectors, it was today confirmed by events company SiGMA Group – the team behind the forward-looking business technology expo.  More than 6000 are expected to attend the show, taking place on 7th and 8th November at the Intercontinental Hotel in St Julian’s, Malta.

Many delegates will likely be attending the various conferences and workshops at AIBC Summit, which have always been extremely popular.  Headline topics will include the Future of Fintech, Business and Emerging Tech, Innovation, and of course, Regulation. Leading the discussions will be Joseph Muscat (Malta Prime Minister), Silvio Schembri (Malta Financial Services, Digital Economy and Innovation), Anthony Pompliano, AKON, Ian Balina, Matt Greenspan, Yorick Wilks, David Orban, Miko Matsumura, Grace Rachman, Tim Draper, Virgil Griffith, and Alfio Bardolla.

In addition to this enviable schedule of engaging content, the AI Start-up pitch will highlight 10 of the best Start-ups at the conference (there will be 100 or more in the Start-up village).   Each of these 10 companies will pitch their concepts and services to a panel of judges, with one set to win a business-supporting package for the year.

The AIBC Awards on 7th November will be a glittering celebration of the best of the best in the worlds of AI, blockchain, tokenisation, robotics, IoT, and more.  A charity event will wrap up the evening, with the intention of raising a 5 figure sum for the SiGMA Foundation’s global activities to help those in need.

Finally, this year’s show also adds glitz and glamour to the proceedings, courtesy of Grammy Awards-winning artist Akon, who will be delivering a keynote on the main stage about his West African AKOIN project, as well as performing at the extravagant closing night on Friday 8th November.

Eman Pulis, CEO & founder of SiGMA Group and AIBC Summit, said, “We’re so excited to bring this third edition of AIBC Summit to fruition in November.   Alongside the latest government initiatives to further establish Malta as Europe’s leading hub for technology, our wider Malta Week activity will develop the synergy between the blockchain and medical cannabis sectors, offering a profitable new direction for smart DLT investors.  It’s set to be a busy but successful week for everyone!”

– ends –

For sharing in social media, please use the handle: @AIBC Summit

Telegram: https://t.me/maltablockchainsummit

Hashtags: #AIBCsummit #BlockchainIsland

For further information, please contact: pr@maltablockchainsummit.com 

About AIBC:

Malta AI & Blockchain Summit is a bi-annual expo covering topics relating to the global sectors for blockchain, AI, Big Data, IoT, and Quantum technologies.  The event includes conferences hosted by globally renowned speakers, workshops for industry learning and discussion, an exhibit space accommodating more than 400 brands and much more.

The first Malta Blockchain Summit took place in November 2018 at the Intercontinental Hotel in St Julians, Malta, attracting 8,500 attendees from over 80 countries worldwide, with 300 sponsors and exhibitors, 200 speakers, and No. 1 AI VIP (Sophia the world’s first robot citizen). With strong support from the Maltese government, the event has quickly established itself as one of the world’s leading destinations for the growing sectors of AI, Blockchain and DLT, IoT, and other vertical industries. At the 2018 event the Maltese government introduced 3 new bills to support the growth of the sector and promoting Malta as the “Blockchain Island”.

AIBC Summit Official Channel:

https://t.me/maltablockchainsummit

 

AIBC Summit Official Group:

https://t.me/joinchat/OldghxVZWtOj_FedxyL

 

AIBC Media Group:

https://t.me/joinchat/NBq9J1Qq6rjR6aUrZohq1w

Continue Reading

Artificial Intelligence

How Technology Is Tackling Environmental Challenges

Alexandru Marginean

Published

on

Photo by Iewek Gnos on Unsplash
Reading Time: 5 minutes

Technology is quickly changing the way in which us humans live, talk, work, and react with  the world around us. The speed in which technology is being produced shows that there are  no limitations to what can be achieved. With the development of devices that are able to work independently and mimic the action of humans, such technology can aid, enhance and conduct necessary actions. With the health of the planet in detrimental condition, can the latest advances in technology be used to aid and support the reclining health of the world?    

 

The hunt for new development and smarter ways of living, is continually being researched.  With man-made technology unable to replace the world’s ecosystem, it can, however, play a crucial role in environmental degradation. Technology can change the way in which human’s identify, track and value what the environment provides, hopefully helping to slow down climate change that is occurring rapidly around us.

Below are some of the most recent advances in technology and how they too can be used to help save the environment and make a positive change.

 

Artificial Intelligence tracking

It may be hard to believe that animals and the habitats in which they live can make a huge difference to the health of the world we live in. Through the deforestation of the Amazon and the reduced number of wildlife that call this environment their home, the breakdown of the species living within the rainforest is severe, as they all play a part in keeping our ecological system alive and healthy.

One thing that is evident to everyone, however, is the fast-moving breakdown and extinction  of animals all around the world, with more than 10,00 species becoming extinct each year, due to human activity such as deforestation or poaching.

However, there is hope on the horizon. With advancements being made within Artificial Intelligence, there is a high chance that the technology will be able to track animals within their natural habitats. This will not only allow us to study the exciting and private lives of various animals, but also locate and pinpoint their exact location before deforestation and hunting can occur.

Being able to track the species at all times will avoid the death of so many important animals, while helping our ecosystem stay alive and well for the health of the world around us.

 

Renewable Energy Sourcing

One of the most significant ways that technology can contribute to saving the environment is through the creation of a sustainable energy source.

With the inventory of fossil fuels running low, the need to find a green and environmentally friendly substitute is important, more so than ever before.

Generating energy with the use of technology is a far more flexible and eco-friendly way of powering the ever growing world. Although a long process, when it comes to developing systems that work, finding the correct location, is equally as important. Energy Procurement, such as wind turbines and solar panels, are already two popular forms of technology that can be used to help generate energy. Realistically, more renewable energy options are needed in order to reduce and replace the use of fossil fuels altogether.

Sustainable energy sources work by using the sun, wind and even the tides. All natural sources whose energy can be harnessed to generate and power industries, while helping to nurture the health of the surrounding environment.

 

Thermal Cameras To Combat Poaching

The poaching of animals has drastically become a sport and form of income for many people around the world. The killing of animals, whether for their fur, tusks or skin sometimes can be the only form of income for many poachers and has become a big industry in East Asia, but also Africa. Although not always conducted out of pleasure, the poaching of animals has caused an effect on the surrounding environment, by removing a key part in the natural hierarchy. All animals, no matter how big or how small, all play a role in feeding and caring for the earth. By taking away this process, it can reduce their impact on both the ecosystem, but also their role in the nitrogen cycle.

Technology, however, is being used to help capture poachers and diminishing the trade that comes as a consequence of poaching. The way in which technology can be used, is by rangers using thermal imaging to help identify the criminals in the dark and catching and intercepting before they are able to conduct their wicked crimes.

Through the ability of being able to see in the dark, without this useful tool, rangers would not be able to closely inspect individuals within nature reserves, and the rate of animal deaths would increase drastically.

 

Cleaning Land And Oceans

One of the biggest challenges that the world has placed on itself is the production of waste and where it stores it. With our homes overrun with plastic, it is often unnecessarily used to store and transport products, such as food and clothing. With the population not sticking to the recycling rules nor making a conscious effort to reduce their plastic waste, more and more waste each year is finding itself in both landfills and in the ocean.

With a high volume of plastic waste making its way into the oceans, the surrounding ecosystems are being quickly damaged, from the chemicals emitted from the plastic, but also from the animals ingesting the rubbish.

An example of technology being used to help tackle the ever growing problem of plastic waste in our wide oceans and one example can be seen as the Dutch organisation “Ocean Cleanup”.

Ocean Cleanup, a non-profitable organisation have created a device that can sail itself 600 meters into the pacific, while making sure that it picks up as much plastic waste as possible, removing it from the ocean. The technology this group created, is propelled by the wave and wind power in order to continuously have the energy to help propel and function the boat.

Aside from this invention, designers are trying to find innovative ways to reuse the waste produced every day, helping to prevent it from washing up on our beaches or finding its way in the stomachs of large sea mammals.

 

Summary

With the environment under an intense amount of pressure, the future health of the Earth looks uncertain. However, continual advances are being made in technology, where these developments can be used to help support and nurture the environment.

With devices already created to help stop deforestation, extinction and saving the environment from waste; there is no limitations of what other developments could be created through the rise of technology advancements, helping to save the planet further.

The challenges created in the environment have quickly become too powerful for humans to control, so technology is needed more so now than ever, in order to tackle these issues in haste.

As a population, while we wait for these advances in technology to be created, we can all make a conscious effort to reduce the amount of waste and damage that we create to the surrounding environment. Whether it be monitoring the amount of unnecessary plastic that we use, to taking time out of our day to walk instead of driving. By making small changes in our routine, we too can help tackle small environmental challenges within our everyday lives.

 

About the author: Sydney Tierney just recently finished her studies; is working her way into the world of content writing as a digital marketing assistant. She writes for clients that specialise in workstations, wedding bands and energy procurement

Continue Reading

Artificial Intelligence

Kaon Interactive Adds Five Multi-Billion-Dollar Revenue Clients to Its Enterprise Roster

Alexandru Marginean

Published

on

Source: aithority.com
Reading Time: 2 minutes

Kaon Interactive, the leading provider of 3D interactive marketing and sales applications for global B2B brands, today announced the continued global growth in adoption of its Kaon High Velocity Marketing Platform®, including the recent addition of five new multi-billion-dollar enterprise clients. Kaon’s high-impact sales and marketing applications help global B2B companies more effectively communicate why their products/solutions are more valuable, across the entire buyers’ journey. Kaon’s solutions drive sustained increases in sales and reduced marketing costs, leading Kaon to be named one of the Most Reputable Companies in the country by The Silicon Review.

With a consistent double-digit percentage growth in revenue year-over-year, Kaon Interactive continues to expand its relationships with existing clients and extend its distinguished list of visionary clients, including a sizable portfolio of Global 500 companies. Each company has asked Kaon to create, deploy, and maintain a diverse range of sales and marketing applications that include interactive storytelling, 3D product tours, Augmented Reality and Virtual Reality experiences.

New customers include:

  • Amazon Web Services (AWS) – a subsidiary of Amazon that provides on-demand cloud computing platforms to individuals, companies, and governments, on a metered, pay-as-you-go basis.
  • Förch – one of Europe’s leading direct selling companies for workshop, installation, and fastening products for trade and industrial companies.
  • Entegris – provides solutions that purify, protect and transport critical materials used in the semiconductor manufacturing process.
  • Nokia – develops and delivers the only end-to-end portfolio of network equipment, software, services and licensing that is available globally, including IP routers, optical transport, and SD-WAN technology.
  • Juniper Networks – a leader in secure, AI-driven networks for Service Providers, Cloud Providers and Enterprise Customers, delivering industry-leading networking, automation, cloud software, and security solutions.

Amazon Web Services (AWS) deployed Kaon’s application on interactive touch appliances at AWS re: Invent to show the breadth and depth of its Global Cloud Infrastructure story. The effectiveness was evidenced by more than 1,200 interactions at the show. Shortly thereafter, AWS added the application to its website, generating an increase of 180,000 interactions in the first week alone.

In addition to its growing client roster, Kaon Interactive was also recognized among “The 30 Most Reputable Companies” by The Silicon Review, the world’s most trusted online and print community for business professionals. The recognition speaks to Kaon’s continued dedication to innovative sales and marketing solutions that move the needle.

“As people and companies have changed how they consume information and make buying decisions, marketers have had to adapt quickly,” said Dana Drissel, Vice President of Marketing at Kaon Interactive. “This rapid pace of change has made traditional sales and marketing tactics obsolete. Kaon’s growth is directly tied to our ability to help customers achieve digital transformation and innovation in how they engage with customers. We focus on delivering sustained value for our clients over the long term, so we’re honored to be recognized by The Silicon Review as one of the most reputable companies in the country.”

About Kaon Interactive
Kaon Interactive is a B2B software company. Kaon’s interactive sales and marketing applications simplify complex product and solution stories in a visually engaging way anywhere, anytime, turning prospects into customers. The company’s interactive 3D sales and marketing applications transform product and solution marketing content into visual storytelling experiences to deepen customer engagement, reduce marketing expenses and accelerate the sales cycle. More than 5,000 Kaon Interactive applications are being used worldwide at trade shows, remote sales demonstrations, product launches, executive briefing centers, and websites by leading global product manufacturing companies. For more information about Kaon, visit www.kaon.com.

Continue Reading

Font Resizer

Subscribe to PICANTE via Email

Enter your email address to subscribe to PICANTE and receive notifications of new posts by email.

Follow us on Facebook

Read more from our authors

Follow our Tweets

Trending

Please turn AdBlock off