Posted on 03/12/17 by Guest Author
This is a guest post by Douglas Naegele of Tixie. Their AI risk engine helps predict which worksites are most prone to a serious workplace injury — before it happens. Doug received a SXSW pass from Arlington Economic Development and is sharing his experience and perspective with our readers.
Tixie made a great showing at SXSW this year. We met with a few large firms (Intel and IBM) who can help us expand our product to protect the health of industrial workers. We also attended a half-day investor forum where we met angels and legal firms who can help us finance our company.
We also attended a few sessions around health we found interesting:
Mind the Machines: This session focused on using artificial intelligence and machine learning to support systems aimed at improving the end-user's health (This is what Tixie does). We were especially interested in the increased focus on passive data collection — data that comes in from a device and doesn't need a human to 'push' it all the time. In a quick poll, most audience members would use a machine to submit passive data, while only 10% would prefer an active or invasive tool. Also discussed was the role virtual reality can have on remote users. A Stanford researcher estimated that 55 million people would be using virtual reality in six years. This is great news for products like Tixie which aim to help remote workers stay safe on dangerous worksites.
To Build in Health, Follow the Money: We left with a few great suggestions from this session, focused on getting new products into complex customers. First, that a new solution should solve a money problem first and a user problem second. This seems obvious, but a number of startups focus on features and not pain points. Second, a handy metric for success is to keep the ratio of Lifetime Customer Value over Customer Acquisition Cost over three. Lastly, a helpful discussion around first customers and pilots occurred. Specifically, a pilot project should really be a firm, deep commitment between the innovator and the customer and not a "Let's try it with a few users and see what happens". As Tixie expands into larger markets, all these points will help us find success.
SXSW was great for Tixie. We came away with some leads on suppliers, investors, and concrete advice on expending our business. Our thanks to the Arlington Economic Development Corporation for sponsoring us. Learn more at http://www.TixiePro.com.Topic: