Entrepreneurship with AI

Artificial intelligence, or AI, is one of the many buzzwords heard in entrepreneurship circles these days. In the last few years, processing power has made it possible to create far more advanced machine learning algorithms than before, but the technology and idea have been around for 50 years. This means that we are seeing a steady increase in start-ups using AI, At NTNU School of Entrepreneurship (NSE) several start-ups using AI have been fostered and sent out in the big world. In 2019 another one joined the community.

The start-up Vis-Tek is using AI to give drivers an overview of free parking spots. Using deep neural networks to process CCTV cameras. Their technology can detect whether there are cars at specific parking spots or if it free and open for business. This means that drivers can know where to park through the EasyPark app and hopefully create a better experience for everyone in urban communities. In addition, the solution will help to combat air pollution by making sure cars aren’t idling unnecessarily. Vis-Tek claim that they can carbon reduce emissions from urban driving up to 30%. 

Vis-Tek currently consists of three students at NTNU. Two of the students, Anders and Tord, are 4th year students at NSE with backgrounds in IT and mechanical engineering, and the third, Brede, is a fifth year student at Informatics. The team share an office space in the NSE incubator at NTNU together with another startup. Even though Brede is not enrolled in the NSE masters program, he is a part of the NSE community, and are happy with being an informatics student in a group of entrepreneurship students.

The environment at NSE is great. It’s very exciting to work with students who come from various different study backgrounds. They all have different needs and at the same time complement each other in regards to skills and experience. This again creates a community where everyone helps each other, no matter the challenges.

 

Brede Kristiansen from Vis-Tek.

 

Technical and commercial

Brede believes that being a part of the NSE community is beneficial for a startup like Vis-Tek, a company that is competent in the technological aspects but might be lacking in other areas.

Our team is quite technical and has previously focused more on creating the actual solution. Now that we are a part of the NSE community and my team members are enrolled in courses about business development, we have learned new ways of getting the message out and attracting customers in the market we operate. In other words, we really benefit from the network and knowledge that we acquire by being part of the NTNU School of Entrepreneurship. This has become especially evident during the application for FORNY StudENT, where we potentially can receive up to a million kroner from The Research Council of Norway.

The NTNU School of Entrepreneurship is always looking for motivated students who specialize in interesting fields of study and in important technologies, such as artificial intelligence. Do you want to learn more about the masters program? .  Check out their website, entreprenorskolen.no. for more information, and read about the best way to begin your startup adventure! If you have completed 3 years of studies (180 points) you are eligible.