Two UBC Science entrepreneurs will pitch their business concepts and products directly to Silicon Valley venture capitalists at an August 31 alumni event at the Plug and Play Tech Centre in Sunnyvale, California.
An online shopping platform company founded by computer science alumni Maryam Mahdaviani and Jan Ulrich is one of six startups founded by UBC students and alumni selected to be part of Accelerating Entrepreneurship: UBC’s New Venture. The initiative gives the company founders the opportunity to present their innovation to a panel of business leaders and investors, including Plug and Play Tech Center President and CEO Saeed Amidi.
Mahdaviani and Ulrich met while doing their master’s at UBC. Mahdaviani was studying machine learning. Ulrich was focusing on multi-document summarization. Their similar research areas and interest in online marketplaces spawned the start-up Optemo Technologies in 2008.
They recognized that while e-commerce was evolving, it could still be a confusing and daunting experience for online shoppers, especially those who were new to ‘clicks versus bricks’.
“Jan and I are both online shoppers,” says Mahdaviani. “We realized there’s a lot of information available online, but it can be hard for people to find what they want.”
This realization led them to develop software that allows retailers to better manage their online catalogues and helps customers navigate merchandise more effectively and efficiently. The platform provides enhanced filters and keyword searches to help customers narrow down their product choices quickly and easily--even if they aren’t sure exactly what they’re looking for.
“Besides enhanced keyword and faceted search, the platform also provides example-based navigation. Shoppers can get a feel for available products without having to click through pages upon pages of products--they get to search based on look and feel.”
“At the same time, we’re providing online retailers with valuable information about their customers’ preferences.”
As part of the new entrepreneurship@UBC program, a campus-wide initiative designed to facilitate and encourage new business ventures, an open invitation was extended to companies created by current students and recent alumni to join UBC President Prof. Stephen Toope at the California event.
A judging panel of local business leaders and UBC alumni--including UBC entrepreneur-in-residence Andrew Csinger, biomedical device entrepreneur Geof Auchinleck and technology start-up veteran Peter van der Gracht--chose three student- and three alumni-founded companies from 54 applications.
“The number and outstanding quality of the applications is a reflection of the creativity and resourcefulness we have come to expect from UBC students and alumni,” says Toope. “We are delighted to facilitate opportunities where UBC entrepreneurs can advance innovations that impact local and global communities.”
Optemo began its first commercial trial with Best Buy Canada in 2009. Used on the digital camera section of the site, Best Buy saw a significant increase in conversion rates and average basket size.
But the pair don’t plan on stopping there. They are incorporating machine learning into future generations of the software that will employ users’ preferences to change the navigation process, helping customers find the products and information they want quickly and efficiently.
