Founders are challenged to think critically about their approach, spending weeks walking through essential business concepts like IP protection, customer discovery, and due diligence for investors. The current cohort of fellows, though, are ready for the challenge – and excited for the opportunities ahead.
Here’s what Jun Beom Pyo, Chinae Daniel, JM Kim, Afsaneh Razi, and Cole Hagen are doing – and what inspired their journey.
Jun Beom Pyo, PhD
So far, how has your experience been with the Founders Fellowship?
It has been a wonderful experience. I have learned so much, particularly about older adults, the U.S. medical system, and entrepreneurship. I really appreciate the interactive nature of the sessions and how the program strives to address our needs and tailor support to help us succeed.
Can you describe your business idea and what issue you are hoping to address or solve?
Continuous and accurate monitoring without frequent manual checks increases patient compliance and ensures timely intervention, especially in home care settings. While pulse oximeters are non-invasive and simple, they have limitations in accuracy and reliability for individuals with darker skin tones and in the presence of motion artifacts.
To address these issues, we are developing a wearable electrochemical sensor that passively and accurately measures blood oxygenation, independent of melanin content and body movements. Our technology supports patients in managing respiratory conditions such as COPD at home, significantly enhancing healthcare equity and improving patients' quality of life.
Your product addresses racial disparities that exist in the healthcare system. Can you tell us why you were inspired to develop a solution for this issue?
I was surprised when I first learned that pulse oximeters failed to detect hypoxemia three times more often in patients with darker skin compared to those with lighter skin. The disparity in such a widely used device was shocking. I had always considered pulse oximeters to be a very mature technology, and I never suspected they could be inaccurate, let alone selectively so for certain populations. This revelation piqued my interest, leading me to delve deeper into the issue. One thing led to another, and I found myself on a path to commercialize a more accurate blood oxygenation measurement sensor.
What inspired you to pursue entrepreneurship?
I am passionate about creating and commercializing breakthrough technology that would lead to a positive impact on society. This passion naturally drew me to entrepreneurship and starting academic research spin-off companies.
Chinaemerem “Chinae” Daniel
Can you describe your business idea and what issue you are hoping to address or solve?
My business focuses on developing a fraud detection software targeted towards older adults using financial services. The aim is to protect seniors from financial scams and fraud, which are unfortunately prevalent. By leveraging advanced algorithms and user-friendly interfaces, we hope to create a safer financial environment for this vulnerable population.
What do you like about Philadelphia that made you decide to come (or stay) here?
Philadelphia’s vibrant entrepreneurial ecosystem and supportive community have been major factors in my decision to stay. The city offers a unique blend of resources, talent, and opportunities that are conducive to growing a startup. The cultural diversity and rich history of Philadelphia make it an inspiring place to live and work. The people are great to talk to and connect with.
What inspired you to create a financial services-related solution?
My background in fraud detection and compliance roles inspired me to create a solution in the financial services sector. I've always felt that the current financial solutions out there seem to have a disconnect with this group. I understand the gaps when it comes to their level of access and vulnerability. I’ve seen firsthand the impact that financial fraud can have, especially on older adults, and I wanted to develop a tool that could provide them with better protection and peace of mind.
How has being a first-generation STEM graduate and immigrant influenced your professional path?
By instilling a strong work ethic and resilience. I also have the experience of living in a multigenerational household and I believe that this combined experience has given me a unique perspective and drive to overcome challenges and seize opportunities. They have also made me passionate about creating solutions that can help others, especially those from underrepresented communities like mine.
J.M. Kim
So far, how has your experience been with the Founders Fellowship?
I feel very, very privileged to be selected for the Founders Fellowship. First, the program has significantly de-risked these early stages of startup life. I am fortunate to have a part-time day job to help pay the bills, but the stipend reduces the stress about spending time and money on the startup or feeling like I need to get back to working full-time for financial safety. Second, the Science Center team's care and investment in me and all the fellows has so many benefits. Functionally, I get to learn tons of nuanced details about aging and startups in a concentrated and accessible way. More importantly, emotionally, I feel a warm commitment from everyone involved to help me navigate the choppy waters that is startup life. Most startup "support" feels like "survival of the fittest" in ways that are not equitable.
You’ve also served as an Entrepreneurial Lead in the national I-Corps program, conducting customer discovery in the healthy aging market – how did your experience there shape your decision to create a product for the aging market?
The NSF I-Corps funding is another source of support that I feel very privileged to access. My co-founder and I have been very committed to customer discovery from the beginning of our startup explorations, but we hit our limit with what we could learn without spending money to travel - industry conferences especially are so expensive! I recommend I-Corps Regional and National to anyone who needs travel funds for their discovery process.
Can you describe your business idea and what issue you are hoping to address or solve?
My co-founder and I had a prior interest in the needs of people getting older - first because we are human beings who it turns out are not immune to aging, and second because we were both working in our "day jobs" for an NSF AI Institute, AI-CARING, focused on supporting older adults.
My co-founder had previous research with students that we realized might translate well to the needs we heard about through the Institute. After talking to potential customers and seeing what was in the marketplace, we saw an opportunity to move the research out of the realm of papers and lab demos and into a real product. There's a tendency to focus on the latest and greatest, and sometimes that's wonderful, but I have learned over the years that innovation can sometimes involve adapting existing research in a fresh new way.
Once you start to pay attention, it becomes clear the huge size and seriously underserved market that exists with adults who are getting older - and that market is only getting bigger with the Baby Boomers reaching retirement age. My co-founder and I are interested in how we can create delightful digital experiences to keep people physically, cognitively, and socially active in their own homes, but we as a society need so many new products, services, and innovations to help people live well. I hope more people recognize the need and opportunity, because I am not getting any younger.
The Science Center team's care and investment in me and all the fellows has so many benefits. Functionally, I get to learn tons of nuanced details about aging and startups in a concentrated and accessible way. More importantly, emotionally, I feel a warm commitment from everyone involved to help me navigate the choppy waters that is startup life.
Afsaneh Razi, PhD
What made you interested in applying to the Founders Fellowship?
I am passionate about transforming research into real-world applications that can improve people's lives. Our team worked on a health equity research project supported by the Science Center, so I became aware of this fellowship.
This is a perfect opportunity to bridge the gap between academic research and practical solutions, enabling me to make positive impacts on society.
Can you describe your business idea and what issue you are hoping to address or solve?
The older adult population is incredibly diverse, requiring personalized care to address the unique needs of each subgroup. Unfortunately, older individuals with epilepsy often struggle with self-care due to a lack of essential information and accessible care plans. Additionally, they experience higher levels of mental health-related symptoms compared to their peers.
My idea aims to create comprehensive support systems, including social support, to reduce loneliness and enhance the well-being of older adults with epilepsy. By leveraging AI, we can provide personalized care and information, ensuring that these individuals receive the assistance they need. Our goal for the AI is to provide assistance to older adults and their care givers, not to replace any human.
What inspired you to pursue entrepreneurship?
As a faculty at Drexel University, I work with so many talented students. I am inspired to translate the knowledge and insights gained from the fellowship into guidance for my students. This way, I can help them turn their innovative ideas into real-world applications, fostering practical problem-solving within the academic community.
Cole Hagen
Can you describe your business idea and what issue you are hoping to address or solve?
Movision is a telehealth platform that uses a single camera from a mobile device or computer to track health metrics such as range of motion or heart rate during remote care visits. Through Movision, I hope to improve the capabilities of remote care technology to decrease the barriers of care for older adults.
Why did you apply to the Founders Fellowship?
The Founder's Fellowship was a great opportunity to get support along my entrepreneurial journey to help push Movision forward and learn how it could address issues in older adults.
What inspired you to pursue entrepreneurship?
As a researcher, I get to work closely with new technologies that have the potential to make a positive impact in peoples' lives. I wanted to pursue entrepreneurship to translate findings from research to the real world to make that impact tangible.
