However earlier than I dive into my learnings and supply some perception into what I’m now searching for (tune in to the second instalment the place I discover this!), the causes why I began this search maybe present an fascinating precursor story.

1. The story of the incognito founder and the hidden gem

VC’s all have their go-to methodology for deal-sourcing. From scavenging via the realms of Crunchbase and Pitchbook, to attending pitch occasions, to referrals inside their very own community, to founders they’ve beforehand labored with — all equally priceless strategies which have resulted in successes.

Nonetheless, a working concept behind this ‘hunt’ was that there are sometimes good founders and good concepts that slip via the cracks.

Founders new to the startup world but to seem on database radars, founders who’ve superior concepts however no direct connection to traders, founders who’re pre-pre-pre-product, pre-pre-website, pre-anything however an superior imaginative and prescient and/or fascinating analysis.

Thus, on embarking via my canvas of the AI eco-system, my intention was to thoughtfully discover founders who would in any other case not seem on our radars — the incognito founder who’s sitting on an thought, piece of analysis or platform that might really be an impactful hidden gem.

2. Let’s deal with (and kill) the elephant within the room

In my first few days working in deep-tech VC, I bumped into some alarming statistics that allowed me to make the very unsurprising conclusion that VC funding has a variety downside. Globally, solely 2.3% of VC funding goes to woman-only founding groups.

Equally alarming numbers come up when different types of variety like ethnic variety. Whereas Australia appears to perform a little higher than the worldwide common, the issue stays and is maybe additional amplified in deep-tech areas.

Correlatively, the second purpose why I started a guide however intentional scan via the AI ecosystem was to make sure that I might discover numerous founders who would historically have higher problem accessing VC funding or showing on VC radars/circles.

This guide strategy to sourcing allowed me to search out good folks from numerous backgrounds who had been very a lot ‘incognito’ founders sitting on beds of superior concepts.

3. AI’s potential continues to be untapped

Now, perhaps you’re considering why AI? Apart from my very own private ardour for all issues AI, AI’s potential continues to be untapped. Once I started my search (and earlier than ChatGPT gave generative AI and AI extra broadly a sit back into the highlight), chatter about AI had subsided and the startup neighborhood was totally engrossed in all issues web3, metaverse and blockchain.

Nonetheless, the truth stays that AI’s transformational impression has barely scraped the floor. A 2022 research by Data61 confirmed that solely 25% of organisations have leveraged AI to allow automation of processes.

This implies that there’s nonetheless an abundance of vertical functions of AI in addition to fascinating developments on the planet of AI, significantly generative AI, which might be price investigating.

Certainly, what counts as an fascinating software of or improvement in AI is in itself one other potential article and one thing that, like an AI mannequin, I’ve come to grasp via the 50+ knowledge factors I’ve consumed.

Thus, the ultimate purpose why I discovered and spoke to so many AI founders was as a result of I feel the subsequent large and impactful AI corporations and founders are on the market.