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Nachrichten, Termine, Experten
Nachrichten, Termine, Experten
For the development of an AI tool that translates complex texts into plain language, the start-up SUMM AI has received the TUM Presidential Entrepreneurship Award. The other finalists for this year’s award were KEWAZO, with a robot for the construction industry, and Phlair, with a new technology for CO2 capture.
The TUM Entrepreneurship Day brought together the various actors from the wide-ranging Munich innovation ecosystem. In podium discussions they addressed such topics as the AI research landscape and potential EU sovereignty in outer space. TUM researchers presented a new study showing which universities are producing the most entrepreneurs. More than 50 start-ups were on hand to introduce their work to the around 1,800 people in attendance.
This year’s TUM Presidential Entrepreneurship Award was presented to a highly promising spin-off. The award honors business ideas that are primarily rooted in research, show strong growth potential and have successfully garnered initial funding. It comes with a 10,000 euro cash prize, donated by the TUM Association of Alumni and Friends.
Winner: SUMM AI
For many people it is difficult or impossible to understand complex texts. These can include people with learning difficulties, the elderly or those with limited knowledge of German. Consequently, German public-sector bodies and, more recently, companies in the EU are required to provide fully accessible and understandable information. Because simple language follows specific rules, texts have generally required expert input, resulting in considerable effort and expense for public authorities and companies. The start-up SUMM AI, formed in 2022, has developed a tool that uses AI to translate texts into simple language in a matter of seconds. It can also add suitable illustrations.
The founding team, Flora Geske, Vanessa Theel and Nicholas Wolf, all studied Finance and Information Management at TUM. The start-up received support, among other sources, from the TUM Venture Lab Software & AI and the UnternehmerTUM programs XPLORE and XPRENEURS.
Finalist: KEWAZO
The transport of materials on large construction sites can be a complex operation that can quickly pose safety risks for workers. The start-up KEWAZO has developed a robot that automatically moves heavy materials to the correct location. It is used for such tasks as erecting scaffolding and building industrial plants. This can eliminate the need for cranes and replace many manual steps for improved safety. In addition, the system collects and analyzes data for project management.
The founders Ekaterina Grib, Artem Kuchukov, Leonidas Pozikidis, Eirini Psallida and Alimzhan Rakhmatulin, who studied construction technology, informatics and management at TUM, met at the Think.Make.Start hackathon. The team received support in the XPRENEURS incubator program and the TUM US Venture program, among other sources. The start-up, which was formed in 2018, also has an office in the USA.
Finalist: Phlair
The start-up Phlair, founded in 2022, has developed a new technology to remove CO2 from ambient air. The core element is the hydrolyzer, an innovative electrochemical cell that produces acids and bases needed for the direct air capture process. The system can operate with solar power and uses significantly less energy than previous technologies. The captured CO2 can be used as a raw material in various industrial applications. In this way, the technology can help companies achieve climate-neutral production.
The founders Malte Feucht, Steffen Garbe and Paul Teufel studied chemistry, robotics and management at TUM. The team received support in the TUM Venture Lab ChemSPACE.
Mentor of Excellence Award: Prof. Markus Zimmermann
Markus Zimmermann was also honored. The professor of product development and lightweight design received the TUM Start-up Mentor of Excellence Award. The award, which comes with 5000 euros in funding for the research chair, honors professors for outstanding and successful work in supporting start-up teams. Many researchers support teams that receive EXIST scholarships. This mentoring is a prerequisite when applying for these coveted federal scholarships. Markus Zimmermann has supported six start-up teams. He also supports the regular hackathon course Think.Make.Start.
Further information:
The innovation ecosystem centered around TUM is regarded as one of the most successful deeptech hubs in Europe. Its particular strengths are its strong, diverse network and particularly specific support. In initiatives and co-labs, start-ups work on innovations with established companies, experts, investors and administration. TUM and UnternehmerTUM, the Center for Innovation and Business Creation, support start-up teams with programs that are precisely tailored to the individual phases of the founding process and the teams. The TUM Venture Labs offer direct access to cutting-edge research, technical infrastructure and market expertise in twelve fields of technology. Most recently, more than 100 companies were founded at TUM in one year and more than 1,100 start-up teams were supported by UnternehmerTUM and the Venture Labs. UnternehmerTUM, which invests with its own venture capital fund, has twice been voted Europe's best start-up hub by the Financial Times.
The finalists in the video
https://www.tum.de/en/innovation/entrepreneurship Entrepreneurship at TUM
https://mediatum.ub.tum.de/1784688 Photos for media coverage
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