During the school year and the summer, Georgia Tech students can incorporate entrepreneurship into their college experience through courses, workshops, special events, and even a startup accelerator. CREATE-X invites you to delve into the journeys of our top achievers, this time focusing on the Spring 2024 I2P Showcase first-place winners: 

Dolfin Solutions

Marianna Cao, James Gao, and Jaeheon Shim, first-year computer science majors, are the founders of Dolfin Solutions, a personal financial management platform that promises a unified solution to budgeting, transaction management, and expense tracking, among other personal finance tasks. 

What challenges did you have in I2P, and how did you work through them?

 “We were really lucky to get an excellent mentor, Aaron Hillegass. He has a lot of experience in the industry as a startup founder himself, and he gave us a lot of help, both technical as well as business, throughout the process. That helped us make better decisions,” Gao said.

“I think the biggest challenge was, I had done projects in the past by myself, writing the full stack, but working together, communicating the requirements, and integrating everyone's different code at the end was a little bit of a logistical struggle,” Shim said. “But we managed to figure it out.”

What advice do you have for students interested in I2P or entrepreneurship in general?

“Go for it. It's a three-credit course, so it counts toward your junior capstone as well. You get $500. Now is the perfect time to start because you don't have much to lose. If you're doing I2P and your company fails, you still have four years of college; you can still pursue a traditional path. It's a little risk but a lot to gain,” Shim said.

“Even if you pivot or change your idea, it's important to believe in what you started,” said Cao. “If you don't believe in your app, then nobody else does. Right now, you have all of the friends, mentors, professors, and the right resources, and money is not an issue. It's a good opportunity for you to work on it on the side, and maybe it could turn into something.”

What’s Next?

“We’re going to build for the iOS and Android platforms, and then we're going to deploy hopefully by the end of summer,” Shim said. 

If you’re a student interested in building your own product for college credit, apply for I2P. And join us for Demo Day, Aug. 29, at 5 p.m., in the Georgia Tech Exhibition Hall to see new CREATE-X founders launch products in a variety of industries. Tickets are free but limited. Register today to secure your spot.

Nakia Melecio, the VentureLab Principal under the Office of Commercialization, has made remarkable progress in enhancing the grant programs of the National Institutes of Health (NIH). Over an intensive eight-month period, Melecio was part of an evaluation committee that focused on refining initiatives of the NIH’s National Cancer Institute, particularly the Small Business Transition Grant and other related grant programs.

“The experience was both enlightening and challenging,” Melecio said. “We engaged with faculty from over 20 universities to understand the diverse needs — from early-stage research to the commercialization of technology.” His pivotal role in streamlining the application processes for the Small Business Innovation Research and Small Business Technology Transfer programs has significantly enhanced their efficiency and accessibility.

A key aspect of Melecio’s efforts was to increase participation from historically underrepresented groups, with a significant focus on supporting historically Black colleges and universities and minority-serving institutions. His strategic insights have helped reshape these programs to better facilitate the commercialization of technologies developed within academic institutions.

Keith McGreggor, director of VentureLab, praised Melecio’s contributions. “Nakia’s work embodies our mission to transform research into viable market opportunities, ensuring broad access and benefit. The approval of the committee’s recommendations by the NCI leadership marks a significant advancement in our ongoing effort to make NIH funding more accessible and effective,” he said.

As these enhancements are implemented, they promise to significantly improve the landscape for commercializing technologies originating from university research, fostering broader innovation and practical application of groundbreaking discoveries.

The Office of Commercialization at Georgia Tech continues to support faculty and researchers as they navigate these improved opportunities, ensuring that the leadership and expertise within our community are directed toward national and global advancements in science and technology.

Stay engaged with the Office of Commercialization for ongoing updates on this and other initiatives.

Parth Arora is the founder of Third Dimension Fitness, a platform for gamified cardio through mixed reality, which was recently acquired by Elbo, an education-focused company based in Singapore. He began his company as a project in the summer of 2022. Since then, it has gained thousands of users and made thousands in revenue each month. Arora is a senior in computer science. He participated in the Spring 2024 Startup Launch, the first cohort to be held outside of the summer program. Below is a Q&A with Arora. 

Did you always want to be an entrepreneur?

I always did. I had my first company, an educational technology app, when I was 16, which ran for about two years. I ended it in my first year of college. I'm from India originally and the vision was to provide resources to the larger mass market of India for extracurricular activities. But, we realized there wasn't a business model. When we tried to make money, we started serving the rich kids. When we tried to serve the market, we didn't make money, which doesn't make investors happy, though we did end up making enough money to repay them.

That didn't stop me; it just gave me more lessons. 

What other experience in entrepreneurship have you had?

I've been involved in entrepreneurship communities at Georgia Tech forever. I was co-director of Startup Exchange, which is where I met a lot of really driven people. I got a chance to build their fellowship program and initiate their first pitch competition, which is now called Summit. I've collaborated with CREATE-X for different events, and I try to attend any event hosted by CREATE-X, Startup Exchange, or ATDC.

Why did you choose to join the spring cohort of Startup Launch this year?

CREATE-X provides everything you need, like legal support, financial support, sales support, mentors, and an introduction to VCs, which is why I decided to join the Launch program. I think all of that boosted our startup’s growth.

Why did you feel like acquisition was the way to go for your company?

I think because I always knew this wasn’t “the” thing I was going to do. This summer I'll be starting to work for Apple on their VisionPro team, and it has a direct conflict-of-interest. They wanted me to stop working on this for a while. So, I felt like this might be a good time to explore the acquisition.  We had really rich content, which had proven to work. We had curated that content after hundreds of customer interviews, and we had advisors from Nike, Disney, and Netflix. I knew that was a strong point, so that's why I knew that acquisition would be a good exit. 

What support have you had in taking the acquisition path?

Seth [Radman, who has had multiple exits himself and is a Startup Launch alumnus] has been guiding me professionally for a while. I met him at previous events through Startup Exchange, but then he recently came to a CREATE-X event. Rahul [Saxena, CREATE-X director], has also been a great support for me since day one. He was the one who suggested Startup Launch to me.

In December of last year, we started monetizing. We were testing different things. It was helpful to share the numbers and the data points with Rahul, mentors, and other people in my cohort so that I was not blindsided, and I could take actions based on the educated analysis of a database. It helped me drive down our customer acquisition cost, increase our customer lifetime value, and didn't keep me in my own bubble.

How were you okay with letting that product go?

It was a tough decision; it was my baby. I'd been working on it 10 to 15 hours a day, at least for the last few months. Rahul and Seth convinced me that if this is not the thing you want to do long-term and you know the market isn't big enough, you should move on to the next thing and put your time and energy there. 

I had to use my brain, and not my heart.

What's the biggest piece of advice that you've received as you developed your company?

Try to never lie to yourself, which is harder than it seems. I've built two companies and worked with several others, and I still lie to myself. When you love your product so much, it's very easy to lie to yourself about how there is a market for it, or people are using it. I think even in the future, I’ll probably be caught doing that, but the best way I've found to overcome that is to surround yourself with people who can tell you when you are doing it and help you see your company the way it is instead of the way you want it to be.

How has this decision affected you so far?

My lifestyle has completely changed, from looking at a dashboard every 10 to 15 minutes, seeing how the product is doing, and burning so many fires every 30 minutes, to being pretty chill. Like, what am I supposed to think about before I go to bed? What am I supposed to do now? Who are the customers I am supposed to be thinking about? It's been interesting, but I think this gives me space to now work on that next venture and have more time to think about what I want to do next.

Do you think you'll want to return to entrepreneurship in the future?

Yes, for sure. All the money I received from the acquisition will also fuel my next venture. My main goal is to grow in this industry. I'm an entrepreneur at heart, so I will be returning to the space soon or building products that people like. 

How are you celebrating this win?

I did celebrate it on our last day with Rahul, my amazing mentor, Margaret [Weniger, who founded Rising Tide], and the other cohort members. I will be celebrating it with a few of my friends because my 21st birthday is coming around, so I'll be celebrating these occasions together. 

But I don't want to take the money out from the company or for anything else, because it’s for my next venture. It shouldn't change my lifestyle at all, so I've kept all that money in a separate place.

What encouragement would you give to students interested in pursuing a startup?

Relative to other colleges, we have a cushion, a sense of security that we will get good jobs. Entrepreneurship is a riskier and more unpredictable path, which I've seen, and I'm personally experiencing right now having to choose between Big Tech versus entrepreneurship. But once you start building it and when you hear from your first customer how you affected the way they live, then there's no going back. Statistically, you'll probably fail, but you won't know until you start building; and if you do fail, it’ll teach you so many valuable lessons that are applicable in whatever career path you choose.

CREATE-X will launch its 12th cohort of Startup Launch on Aug. 29 at 5 p.m. in the Georgia Tech Exhibition Hall. Register today to secure your spot.

Interested in becoming a CREATE-X supporter? Startup Launch is made possible by contributions to Transforming Tomorrow, a $2 billion comprehensive campaign designed to secure resources that will advance the Institute and its impact, and by the continued engagement of our entrepreneurial ecosystem. Learn more about philanthropy at Georgia Tech and donate by visiting transformingtomorrow.gatech.edu.

To become a mentor in CREATE-X, visit the CREATE-X mentorship page. Any other inquiry may be sent to create-x@groups.gatech.edu. We appreciate your help and commitment to supporting our students in research and innovation.

Georgia Tech Launches Quadrant-i, a New Unit to Enhance Research Commercialization

Georgia Tech's Office of Commercialization introduces Quadrant-i, a new unit dedicated to helping faculty, researchers, and students translate their research into startups.

The name is inspired by Pasteur’s quadrant in the Daniel Stokes innovation-impact model and will emphasize the translation of deep scientific research into products. (See more information about Pasteur’s quadrant here.)

Quadrant-i will join the other units in commercialization — the Office of Technology Licensing, VentureLab, and CREATE-X — in making Georgia Tech the premier campus for startups and commercialization.

“As we grow our efforts toward delivering impact through commercialization, creating a unit that is solely focused on helping our faculty, students, and researchers launch startups based on their research is essential,” said Raghupathy “Siva” Sivakumar, vice president of Commercialization and chief commercialization officer.

The functions of Quadrant-i have historically been supported by VentureLab, a national leader in entrepreneurship training and research. The reorganization will also allow VentureLab to amplify its impact in making Georgia Tech a thought leader for entrepreneurship.

Quadrant-i will be a comprehensive resource for the thriving research community on campus, facilitating the journey from innovations to impact. The unit will offer programs, resources, and services tailored to expedite and enhance the commercialization process, including:

• Advocating for policy changes and incentive structures to foster a culture of impact.
• Securing non-dilutive grant funding.
• Navigating conflicts of interest to maintain research integrity.
• Providing mentorship on the business aspects of innovation.
• Interfacing with customers, investors, and mentors.
• Launching startups with essential resources and support.

A search is currently underway for a director, who will report to Sivakumar.

The Office of Commercialization invites faculty, researchers, students, investors, mentors, industry leaders, and innovators to collaborate with Quadrant-i and learn more about its programs and services.

For more information, visit: commercialization.gatech.edu/quadrant-i

 

News Contact

Lacey Cameron, Marketing Manager

lacey.cameron@gatech.edu

An innovative healthcare startup that just launched out of Georgia Tech uses artificial intelligence to predict how a patient’s heart will respond to a specific implant before the procedure beings.  

The team’s groundbreaking research in cardiovascular engineering technology, led by Professor Prasad Dasi, is changing how the medical industry approaches heart care, giving a fresh perspective and a more successful outcome for heart surgeons and patients.

"The decisions that the cardiologists or surgeons make today can impact not only the immediate surgical procedure that they are going to have, but it will impact the rest of their patients’ lives" said Dasi, a professor and associate chair for undergraduate studies in the Coulter Department of Biomedical Engineering at Georgia Tech and Emory University. "Our technology helps doctors make a more informed decision on a patient-by-patient basis for the best possible outcome for those suffering from heart disease or needing a heart implant."

Choosing to Disclose the Heart Valve Technology

Through research commercialization, Dasi was able to license his technology and transform the way heart patients receive care. Dasi chose to take the innovative path and started his own company, Dasi Simulations, along with co-founder and CEO Teri Sirset, to commercialize and disclose the heart valve technology.

“After being able to secure some initial seed funding for our startup, it was time to acquire a licensing agreement from Georgia Tech,” Dasi recalled.

Dasi and Sirset realized that licensing this technology would be a crucial milestone in their journey of establishing a successful business, and they moved forward to disclose their invention to Georgia Tech’s Office of Technology Licensing (OTL).

Working with the Office of Technology Licensing 

The Dasi Simulations heart valve technology was successfully licensed through the OTL in the summer of 2022. The licensing agreement was part of a larger inter-institutional agreement between Georgia Tech, Ohio State University, Piedmont Hospital, and Emory University. Dasi credits Raghupathy "Siva" Sivakumar, vice president of the Office of Commercialization at Georgia Tech, with providing great advice throughout the process, as well as the OTL team for creating a smooth licensing experience.

“I met with Siva, and he gave me so much good advice on navigating the aspects of getting into commercialization. He was a great mentor for me,” said Dasi. “I found working with the OTL to be pleasant and a relatively fast experience, and I would definitely encourage other professors and researchers to disclose their ideas. I think that is the first step and developing mentorships is also worthwhile and can lead to more successful advancements in technology.”

Seeing the Benefits of Licensing

As a result of becoming licensed, Dasi Simulations is already making waves in the medical industry with its game-changing heart valve technology. The product is in nearly 50 hospitals, and the device is expecting FDA clearance later this year. The startup currently employs 25 engineers, and a beta version of the product is generating revenue.

“I want to see this technology continue to become the standard of care because every patient deserves the best possible outcome,” said Dasi, reflecting on the next steps for the company now that it is officially licensed.

Dasi Simulation’s heart valve technology is accelerating the medical industry by increasing accessibility to better diagnostics and faster treatments. After years of hard work and dedication from Professor Dasi and Dasi Simulation, cardiovascular healthcare's future is brighter than ever.

“This is an exciting development for Dasi, Sirset, and Dasi Simulations LLC, and Georgia Tech. OTL is excited to have licensed this important research, and we all look forward to seeing how this new technology continues to evolve and help people with heart conditions,”  said OTL Director Mary Albertson .

To learn more about Technology Licensing from Georgia Tech, please visit https://commercialization.gatech.edu/technology-licensing