But, I had to pivot from competing against the established standard to thinking about creating new value. I believed there was a lot of value to be created. To change how people behave, to change standards, you need a massive step change improvement. I had a co-founder and our product was better than the competition by about 10%.īut, I learned that being incrementally better is not relevant when you are trying to build a business. It funded my tuition, but I took building a product seriously. I had a lot of people sending me twenty dollar cheques for the premium features.
I built a data compression software product. I started my first venture when I was an undergraduate at The University of Waterloo. The following excerpt of his presentation has been edited for length and clarity. Tomi’s journey from engineer to entrepreneur and reflections on the mindset required to build and sell products at scale was captured as part of Radical Ventures’ AI Founders Master Class – a four week program aimed at helping AI researchers build AI products and businesses. Today, Tomi is a Co-Founder and Partner at Radical Ventures and is currently working to bring AI to healthcare with the new startup, Signal 1. Tomi Poutanen has built AI products and scaled product teams over the past 20 years as an entrepreneur and founder of five companies with exits to Microsoft, Yahoo! and TD Bank.
Building scalable products around the needs of the customer can be a key factor in a company’s growth trajectory. The path from AI research breakthrough to commercial success is frequently charted by product development and innovation.
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