Despite a perception of inclusion, new data from DECODE, UC Berkeley’s SCET, and AAAIM show that AAPIs face an imbalanced reality. 

In the fields of investments and venture capital, the narrative often revolves around a world full of innovation and opportunity. However, beneath the surface lies a glaring reality that challenges these notions of potential. In a first-of-its-kind study, research from DECODE, UC Berkeley’s Sutardja Center for Entrepreneurship & Technology (SCET), and AAAIM now sheds light on a concerning issue: the significant lack of representation of Asian American and Pacific Islander (AAPI) in funding opportunities and career advancement within the VC investment community. 

This might come as a surprise to some people. There are a handful of highly-visible success stories at the top, and the Forbes Midas list continually ranks several AAPI investors among the top 10. Furthermore, AAPIs indeed comprise an important workforce throughout the tech industry and venture capital. Compounding the surprise-factor is that the combined term “AAPI” is incredibly broad. AAPI includes people with origins among more than 50 distinct ethnic groups, hundreds of languages, and maps to wide geographic regions including the Far East, Southeast Asia, the Indian subcontinent, and the Pacific Islands. The cultures, histories, and lived experiences of AAPIs is vast beyond comprehension. These factors all reinforce the  prevailing assumption that there’s no shortage of representation of AAPIs in technology and entrepreneurship. 

However, our recent research quantifies for the first time that – despite these perceptions of success and inclusion – AAPIs face a pervasive bias within the VC community. There have been a number of studies that looked at the systemic imbalance faced by women and other diverse communities but, until now, there’s been limited research related to the AAPI community in VC. Our research also quantifies that AAPI-owned VCs continue to face proportionally low AUM numbers and unique challenges in fundraising.

Here are some of the most surprising revelations from our research. 

1. Only 3.3% of VC funds are AAPI owned. This low, single-digit percentage of representation is extremely lower than the common perception. Of these 3.3% AAPI-managed VC funds, it represents only 2.9% of total AUM. This mismatch makes even less sense when you look at the performance of AAPI-owned funds, which have a higher proportion of being top-performing funds: 52.6% of all AAPI-owned funds have been ranked in the top quartile for fund performance. 
2. AAPIs are often left out of DEI initiatives by LPs. Among the top 100 limited partners (LPs) that allocate to venture, we found an alarming fact: 19% explicitly exclude AAPIs from these critical DEI initiatives. Clearly, the incorrect perception that AAPI professionals are doing well in VC is resulting in AAPIs being excluded. We found that only 9% specifically include AAPIs in DEI initiatives and goals. Furthermore, we found that 72% of diversity initiatives do not clearly state the inclusion of AAPIs in programming, even though other minority groups and women are mentioned as part of programming. This omission of AAPI could be interpreted that AAPIs are not included in much of this additional 72%.
3. The path to promotion and becoming an investing partner takes 41% longer for AAPIs. Before rising to become an investment partner, AAPI professionals worked in junior roles for an average of 3 years, 10 months. Non-AAPI professionals were able to be promoted in 2 years, 9 months. This slower trajectory is even more notable when combined with our research finding that AAPIs are more likely to have additional work experience before joining a VC (coming from prior roles as operators, in finance, or in consulting). 
4. More AAPIs with junior VC experience end up starting their own funds. Rather than waiting to be recognized inside their current firms, it appears that a difficult path to promotion could be leading more AAPIs with junior VC experience to start their own funds.  Proportionally more AAPI partners with junior VC experience started their own fund (16.6%) compared to their non-AAPI (13.7%) counterparts.

There’s a lot at stake due to the underrepresentation of AAPIs. 

• Policies and practices are adopted that limit opportunities specifically for AAPIs. We found examples of unconscious exclusion of AAPIs from leadership programs. These kinds of patterns can put senior-level investment roles out of reach, despite AAPIs’ qualifications. Our interviews also revealed recurring themes where many fund managers said they face additional hurdles like stereotyping and unconscious bias from LPs. 
• There is less mentorship for AAPIs. Another practice we repeatedly heard is that AAPIs are afforded fewer structured mentorship opportunities. These programs are in-place because they’re shown to accelerate advancement to leadership roles. With limited AAPI participation, many advancement opportunities are being denied. 
• AAPI investors are poised to recognize innovations that non-AAPI investors may overlook. With AAPIs representing an incredibly diverse range of ethnicities and cultures, AAPI investors are well-positioned to recognize a wider range of entrepreneurial ideas. 
• Despite proven track records of successful investments, the lack of AAPIs in investment partner roles means that future returns are capped. Previous AAAIM research quantified the excellent performance of AAPI-owned VC funds. In fact, 52.6% of these AAPI-owned funds delivered top-quartile performance, compared to 24.1% for non-AAPI funds of the same vintage year and strategy. 

For many AAPI individuals working in VC and investing, these research findings validate the gut feelings they’ve held for some time. One interviewee in the research commented on the experience of seeking a promotion through path: “The ‘Bamboo Ceiling’ effect has caused AAPI managers to lack leadership opportunities. People tend to promote others who look like themselves, so it is harder to stand out and be promoted since most people in the space are white.” Another interviewee underscored a belief that unfortunately continues to persist: “Asians are tagged as quiet, hardworking, and behind the scenes.” A third interviewee shared the insight that, “There are diversity pushes but capital is given to old managers, and not new managers who fall under the diversity initiative.”

As a result of quantifying these feelings for the first time, we see a number of actions that must be taken to improve DEI outcomes for AAPIs.

1. We must raise awareness about how underrepresentation is experienced differently by AAPIs in the industry, and ensure that data about AAPIs is captured in DEI reporting. By backing up anecdotes and gut-feelings with hard data and showing the realities facing AAPIs in VC, we can challenge existing narratives and catalyze change. New levels of awareness will also lead to better policy-making. 
2. We need better coalition-building across AAPI groups, and with other diverse communities. We’d like to foster a greater sense of common mission on DEI and create a unified voice with other industry organizations. We believe by working together and pushing for a more inclusive approach, we’ll yield better representation among VCs.  
3. It’s critical to keep the spotlight on DEI efforts, for all communities. We are extremely disturbed and worried by current trends where DEI programs are being deemphasized and even eliminated. It would be the ultimate tragedy for these critical efforts — which are meant to increase visibility and participation among people of all backgrounds — to be discarded.  

It’s true that we’ve seen breakout success stories among the AAPI community such as Khosla Ventures, Venrock, and Intel Capital, and among a number of Silicon Valley’s earliest VCs such as Mayfield, Sierra, and Lightspeed also now include AAPI leaders. These accomplishments must be celebrated and recognized. However, the consistently low levels of AUM share for AAPI-owned VC firms and our myriad other findings indicate that our community is viewed largely as a part of the support-level investment workforce.

Diversity should not be just a buzzword, but an elevated practice that creates increased opportunities and a fresh look at how best to enhance the market. It’s critical to fostering progress and innovation, and this new research provides long-overdue clarity about the imbalances that AAPIs are facing. Homogenous leadership constrains the types of ideas that become supported with venture capital. In order for the big ideas of tomorrow to emerge and grow, the investors supporting those ideas must reflect the diversity of our communities, both in the United States and around the world. 

Read the full report

Overview of variety of data sources: 

• 46 publications reviewed that talked about diversity in VC
• 32 VC databases compiled 
• 60+ fund managers interviewed 
• 2,000+ fund manager profiles analyzed (primarily via LinkedIn) 
• 700+ funds analyzed 
• Incorporation of DEI into investment criteria among the top 100 LPs in the U.S.
• $500 billion in VC AUM represented in the study 
• Consolidated and consulted relevant data from a variety of organizations including: BLCK VC, NVCA, Harvard Business Review, Fairview Capital and Midas List, All Raise, EVCA 

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Join us at Collider Cup XIV, where innovative Berkeley minds converge for the university’s premier technology showcase and pitch competition.

Event Details

• Friday, May 3, 2024
• Live, in-person @ Banatao Auditorium
• 2:30 p.m. – 6 p.m.

Register now!

Collider Cup XIV is Berkeley SCET’s pitch competition and showcase of Berkeley’s top student venture teams from the Spring 2024 semester. This event is the culmination of a semester’s hard work, where student teams pitch their ventures to win the sought-after Collider Cup. In addition to the competition, SCET will share insights about its upcoming courses and offer an opportunity for invaluable networking with free food after the event.

Throughout the semester, students from SCET’s Spring 2024 venture courses have honed their startup ideas. These courses, open to all majors, foster interdisciplinary teams focused on creating solutions for societal problems using cutting-edge technologies like AI, foodtech, and healthtech.

Learn more about the courses that have propelled these teams to the forefront:

• ENGIN 183B: Berkeley Method of Entrepreneurship Bootcamp
• ENGIN183D: Product Management
• ENGIN 183E: Technology Entrepreneurship
• ENGIN 183C-001: Design of Plant-Based Foods | A Berkeley Changemaker® Course
• ENGIN 183C-004: Designing Startups to Transform Society
• ENGIN 183C-003: SportsTech, Entrepreneurship & the Future of Sports | A Berkeley
• ENGIN 183C-002: Transforming Brain Health with Neurotech | A Berkeley Changemaker® Course
• ENGIN 183/283-001: Deplastify the Planet: How to Master the Sustainable Transition | A Berkeley Changemaker® Course

For full course details, visit SCET Courses Page.

After the pitches, stick around for complimentary food and networking in the Kvamme Atrium to connect with student innovators, faculty, and investors and embrace the spirit of entrepreneurship at UC Berkeley!

Exciting New Addition: Alumni Expo

New for Spring 2024: Arrive early and experience the first-ever SCET Student Alumni Collider Cup Expo! An hour before Collider Cup XIV kicks off, SCET alumni will showcase their ventures, competing for an interview with Pear VC. As a participant, you’ll play a crucial role in selecting the winning team, so come early to cast your vote and secure your seat for Collider Cup XIV.

→ Alumni (who have taken at least one SCET course prior to Spring 2024) are eligible to apply to join the expo. Apply by April 17th for consideration.

Announcing Esteemed Emcee and Judges

The event will be emceed by Benecia Jude Jose, a third-year student in Public Health & Data Science, passionate about revolutionizing DEI in clinical trials and promoting health equity. She is a former Collider Cup presenter and founder of CliniCAL, a health-technology project recognized by SCET and a UC Berkeley Changemaker.

A panel of industry experts, including Jay Onda from Marubeni Ventures and Stacey King from the Social Innovation Fund, will be joined by Sandy Diao, a leading figure in growth at Descript. These judges bring a wealth of knowledge and experience to the table, providing students with invaluable feedback.

Benecia Jude, student emcee

Jay Onda, Marubeni Ventures

Stacey King, Cal Innovation Fund

Sandy Diao, Descript

Places and Prizes

Collider Cup XIV will award 1st, 2nd, 3rd, Most Innovative, and People’s Choice awards to competing teams. We’re thrilled to announce the following prizes from our exceptional partners:

• SkyDeck Pad-13 Prize: The top team will automatically be accepted into the SkyDeck Pad-13 Incubator program. The 2nd place team will also receive an interview with SkyDeck staff.
• TechCrunch Fund Prize: The top 3 teams will join the Berkeley delegation and receive Founder Passes for TechCrunch Disrupt 2024!
• Pear VC Prize: The 1st place team will receive a guaranteed interview for PearX, a 14-week bootcamp with 1-on-1 support from investment partners, the talent team, and go-to-market team.
• SCET Prize: The winning teams will be invited to join a special networking training event where they will learn how to build connections from an expert consultant.

For more information on the partners and detailed descriptions of the prizes, visit their respective websites:

• SkyDeck: SkyDeck Website
• TechCrunch Disrupt: TechCrunch Website
• Pear VC: Pear VC Website
• SCET: SCET Website

Ready to Witness Entrepreneurial Excellence?

Don’t miss the chance to see UC Berkeley’s brightest compete and connect. Join us for Collider Cup XIV – where tomorrow’s innovations take center stage today.

Register now to see what’s next in startups, tech, and innovation!

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SCET Alum and former Collider Cup winner, Alina Su, and University of California, Berkeley Bioengineering Professor Irina Conboy are co-founding Generation Lab with the Mission to Extend the Human Healthspan – Waitlist for Its Clinically Driven At-Home Aging Test + Personalized Aging Intervention Opens Today

Generation Lab will offer the first test based on biomedical evidence that measures an individual’s biological age progression, officially launched today out of stealth. The company is announcing its pre-seed funding and the opening of its test kit waitlist.

Co-founded by Irina Conboy, a preeminent aging and longevity researcher from UC Berkeley, Generation Lab combines a simple cheek-swab test with proprietary techniques to definitively measure molecular disbalance that indicates aging and risk of disease. The company works with clinicians who can recommend personalized interventions, and Generation Lab can measure the effectiveness of these over time.

According to the CDC, six in ten adults in the US have at least one chronic disease and four in ten adults have two or more. Many of these are correlated with aging. These diseases are a major cause of morbidity and mortality and place a significant burden on our healthcare system. Catching these conditions early and preventing their progression can save millions of lives and billions of dollars. That’s what Generation Lab plans to do.

Unlike biological clocks, which are based on linear models that predict aging and disease by comparing a few people to each other, Generation Lab quantifies the actual biological age of each person through precise measurement of molecular biological noise – a key barometer of aging. Moreover, the biological age is quantified by Generation Lab for each function of the body: inflammation, regeneration, homeostasis, reproduction, etc.  Generation Lab’s solution is based on peer-reviewed science – including groundbreaking research led by Dr. Irina Conboy, UC Berkeley, and published as a cover story in Aging in Sept 2023.

“Certain molecular disbalance causes degenerative diseases that flare up with aging,” explained Dr. Conboy, co-founder of Generation Lab, and Professor at University of California at Berkeley. “Generation Lab’s tests enable us to identify when a person has a proclivity towards certain conditions and suggest approaches that can help to attenuate, delay or even eliminate those risks. This paves the way to novel anti-aging medicine for identifying and treating diseases early – even when a person is pre-symptomatic – which leads to better outcomes.”

George Church, Ph. D., the Robert Winthrop Professor of Genetics at Harvard Medical School, is a renowned geneticist who is serving as an advisor to Generation Lab. “Irina and her team are taking cutting edge research straight out of the lab and applying it to a pressing issue: identifying disease much earlier than ever before possible using genetic markers,” said Dr. Church. “Seeing this unfold, and having a front-row seat to its impact, is going to be a pivotal moment in epigenetics – it’s incredibly exciting.”

Here’s how Generation Lab works:

• Obtain a test kit from a physician, clinic, or from Generation Lab directly.
• Open the kit and scan the QR code, selecting your level of membership (entry-level subscriptions start at about $400 per year for three tests).
• Follow the directions for a cheek swab and mail the sample back to Generation Lab in a pre-addressed envelope or return it to the clinician who provided the test.
• Within a few weeks, Generation Lab will provide a personalized report highlighting the status of your specific molecular aging markers, and offering a virtual call with a physician to review clinical and lifestyle interventions you might consider to slow the aging process or improve health.
• After subsequent Generation Lab tests, your clinician can review how effective each intervention was and its impact on your health and rate of aging.

Generation Lab’s other two co-founders are Alina Rui Su and Michael Suswal. Su, who studied longevity at Harvard Medical School and Berkeley, was previously founder and CEO of NovaXS. She serves as Generation Lab’s CEO, setting the vision and leading the company’s development. Suswal, who was previously co-founder and COO of tech startup Standard AI (where he remains on the Board), serves as COO, leading Generation Lab’s operations and commercialization efforts.

“As rejuvenation research expands, we need to focus on identifying the most effective measurement for aging. My passion in healthcare led me to focus on Aging & Regeneration since I was a researcher in Irina’s lab at Berkeley,” said Su. “Generation Lab’s technology has the potential to impact an 8-billion-person global population. We will be a one-stop shop for testing plus clinician recommendations for interventions with the ability to ship personalized products to your doorstep. I’m proud that we’re making it easy for people to take a more proactive role in their healthcare and better understand their risk of aging factors.”

Generation Labs has raised a pre-seed round from Transpose Platform and Sequoia China Founding Partner. The company expects its aging test kits to be available in Q1 2024. To join the waitlist, visit generationlab.co.

About Generation Lab

Generation Lab aims to extend the human healthspan with the first test based on clinically relevant biological evidence that measures individuals’ biological age progression and risk of disease so everyone can live longer, healthier lives. Co-founded by a preeminent aging and longevity researcher from UC Berkeley, Generation Lab combines a simple cheek-swab test with proprietary techniques to definitively measure molecular disbalance that indicates aging and risk of disease. The company works with clinicians who can recommend personalized interventions, and Generation Lab can measure the effectiveness of these over time. Join the waitlist atLink to SendGridgenerationlab.co.

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The Sutardja Center for Entrepreneurship & Technology (SCET) at UC Berkeley hosted Collider Cup XIII on December 8, 2023. The competitive venture showcase highlighted a plethora of innovative student projects coming from SCET courses, ranging from algae-based egg replacements to advanced AI compression technologies.

1st place – Nize

• Team: Logan Dickey and Tarun Prakash 
• Course: ENGIN 198 – Startup Catalyst
• What it is: “The all-in-one platform for K-12 schools.”

Teaching is challenging enough without the administrative burden of attendance-taking. Nize reports that this task alone results in 4,000 lost teaching hours per school annually. Furthermore, inaccuracies in attendance records not only disadvantage students but also lead to financial losses for schools. Nize’s intuitive, all-in-one platform is designed to simplify these administrative tasks, thereby reducing hassles for both administrators and students, and ultimately saving money for school districts.

2nd place & People’s Choice Award – TAIBA (Berkeley Algae)

• Team: Nouf Alhazmi, Pinkie Temcharoen, Dohyun Park, Sofia Ahued Herrera
• Course: ENGIN 183 – AltMeat: Sustainable Solutions in Global Food Systems
• What it is: “Crack the limit, not the eggs: an egg replacer for green baking breakthroughs.”

Egg production contributes to significant environmental impact, generating 376 million tons of CO₂ emissions annually, with 34 million tons attributed to the baking industry alone. Team Berkeley Algae’s ‘TAIBA’ product presents an innovative solution: an algae-based egg alternative that is not only affordable and vegan but also baker-approved. This product aims to capture a share of the $22 billion egg market specifically in the baking sector, offering a sustainable alternative.

3rd place – TensorZipper

• Team: Franklin Huang, David Schouten, Mathieu Despres, Esmanur Atasoy, Fabio Sobirey, Frederic Puzicha, Ruofeng (Edison) Wang, Solean Ducrocq, Hiva Mohammadzadeh
• Course: ENGIN 183C – Connected Life: How Mobile/AI/Internet of Things Will Improve Our Lives
• What it is: “Smaller, faster, cheaper AI models”

Since the debut of large language models like ChatGPT in late 2022, their societal impact has been profound. Concurrently, the exponential growth in AI model sizes demands sustainable and efficient solutions. TensorZipper addresses this challenge with research-backed compression technology. Their approach results in AI models that are half the original size, four times less expensive, and one and a half times faster, marking a significant advancement in AI model efficiency.

Most Innovative – Oilnosis

• Team: Kate Ye, Jenny Kim, Santiago Andres Cuevas, Michelle Chow
• Course: ENGIN 183C- Disaster Technology: Creating Innovative Solutions to Environmental Change
• What it is: “Oilnosis is a hydrocarbon detection strip that picks up on the presence of crude oil pollutants in exposed seafood flesh within seconds.”

Annually, over 343 million gallons of oil spill into our oceans, wreaking environmental havoc. In addition to the severe environmental impact, this results in an average income decline of 75% for fishermen in affected regions. Current methods for testing seafood for oil contamination are both expensive and time-consuming. Oilnosis introduces a simple, innovative solution: a test strip that can be attached to a keychain, providing near-instant results. This tool makes it easy and accessible for fishermen to quickly check their catch for oil contamination.

At-Large Bid Winner

For the first time ever, SCET held an “At-Large Bid” pre-event before Collider Cup. In previous years, instructors were allowed to send only one team to present at Collider Cup. The At-Large Bid event gave instructors the opportunity to send an additional team to compete for a chance to present at Collider Cup. All those who attended the event had the opportunity to engage with the startups, ask questions and act as the judges to vote for their favorite pitch to send to the Collider Cup. After a very close competition, Tweenvest came out on top and presented their solution at Collider Cup XIII.

Tweenvest

• Course: ENGIN 198 – Startup Catalyst
• Team: Pepe Tatay-Sanguesa
• What it is: “Tweenvest is a website that helps individual investors make sensible stock analysis in minutes rather than hours.”

Collider Cup XIII presenters

While not every team can win the Collider Cup, these teams also presented innovative solutions that have the potential to solve big problems for consumers.

Nomadic Drones

• Course: ENGIN 183E – Technology Entrepreneurship
• Team: Andreas Moldskred, Victoria Dinov, Lauritz Weil, Daniel Quiroz, and Neel Shah
• What it is: “We provide scalable and reliable power line inspection with nomadic autonomous drones.”

ReYolk

• Course: ENGIN 183C – Product Design & Customer Needfinding: Alternative Meat
• Team: Hawk Azordegan, Daniell Kyle Galang, Lindsay Fokwa Djouka, and Vlada Alexa Zahlada
• What it is: “Upcycling waste streams to lay the groundwork for the sustainable future of food, one egg at a time.”

PulsaFi

• Course: ENGIN 183B – Berkeley Method of Entrepreneurship Bootcamp
• Team: Zackary Atlas
• What it is: “Making it possible for anyone with a bank account to obtain credit.”

Team Deplastify

• Course: ENGIN 183 – Deplastify the Planet: How to Master the Sustainable Transition | A Berkeley Changemaker® Course
• Team: Mingzhou Gu, Divya Srinivasan, Allie McAndrews, Fernando Yonathan Bustamante Mattos, and Hyaejin Byun
• What it is: “A team of Berkeley students working with the Canadian company ‘Cascades’ to help them solve recyclability of boxes for shipping frozen produce.”

Collider Cup features one venture project from each of its courses every semester. While teams chosen for the Collider Cup were chosen for a reason and certainly are some of the most innovative, it is still important to recognize that SCET is not able to showcase every team, but there are more than one hundred projects produced in SCET classes each semester.  

SCET Teaching Awards

At SCET, experiential and hands-on learning is the cornerstone, led by our team of seasoned instructors, who provide expert feedback to help students develop their ideas. In addition to faculty, SCET hires course assistants to run the classes and ensure student innovators have the best environment to learn. In addition to acknowledging our entire teaching staff, SCET gave special recognition to an instructor and course coordinator at Collider Cup XIII.

Best Instructor Award

This semester’s SCET Best Instructor Award went to Gert Christen, instructor for ENGIN 183C Connected Life: How Mobile/AI/Internet of Things Will Improve Our Lives.

“To be honest I never fill out any of these forms, but I have been waiting to do this one. Professor Christen is one of the most caring and supportive professors I have ever met. He stood up for my group even when there were struggles. He spent extra time during the week with us to do what is necessary for my group to grow.”

Best Course Coordinator Award

This semester’s SCET Best Course Coordinator Award, went to Anderson Lam, for his work as a course coordinator for ENGIN 183B – Berkeley Method of Entrepreneurship Bootcamp

“Anderson Lam acted as my mentor from the first to the very last second for the preparation of my pitch. He was honest and clear with his feedback, keeping in mind the purpose of our participation as Internationals.”

Spring Course Preview

During the deliberation period, SCET took the opportunity to showcase its upcoming Spring 2024 course offerings, which are currently open for enrollment for Berkeley students:

• A. Richard Newton Lecture Series | A Berkeley Changemaker® Course (ENGIN 183A/283A | 1 units)
• Berkeley Method of Entrepreneurship Bootcamp (ENGIN 183B | 2 units)
• Leadership Exploration and Discovery (LEAD) | A Berkeley Changemaker® Course (ENGIN 183/283-003 | 3 units)
• Product Management (ENGIN 183D | 3 units)
• Technology Entrepreneurship (ENGIN 183E | 3 units)
• Design of Plant-Based Foods | A Berkeley Changemaker® Course (ENGIN 183C-001 | 4 units)
• Designing Startups to Transform Society (ENGIN 183C-004 | 4 units)
• SportsTech, Entrepreneurship & the Future of Sports | A Berkeley Changemaker® Course (ENGIN 183C-003 | 4 units)
• Transforming Brain Health with Neurotech | A Berkeley Changemaker® Course (ENGIN 183C-002 | 4 units)
• Deplastify the Planet: How to Master the Sustainable Transition | A Berkeley Changemaker® Course (ENGIN 183/283 | 3 units)
• Future of Technology: How Innovators Critically Examine Game Changing and Time Wasting Technologies (ENGIN 183/283 | 3 units)
• Patent Law and Strategy for Innovators and Entrepreneurs (ENGIN 183-002/ENGIN 283-002 | 3 units)

Judges & Host

A special acknowledgment to our esteemed judges Jay Onda from Marubeni Ventures Inc., Berkeley alumna Tamanna Khemani from General Catalyst, and Frank Hysa from Capgemini for their fantastic feedback to students at the event. 

Also, we want to recognize our student emcee, Benecia Jude for her amazing work to keep the audience engaged and entertained! 

That’s a wrap! Cheers to everyone’s efforts on making Collider Cup XIII a wonderful success.

The post Announcing the winners for Collider Cup XIII! appeared first on UC Berkeley Sutardja Center.

AI luminary Andrew Ng recently shared his insights on the future of AI at a Berkeley event titled “How AI Will Change the World (for Good)” hosted by The House Fund with support from the Sutardja Center for Entrepreneurship & Technology (SCET). Ng, one of the world’s most respected AI experts, emphasized the transformative potential of AI, highlighting its vast opportunities for the audience of nearly 300 Berkeley student entrepreneurs.

Two Tools Ushering in AI’s Golden Age

Dr. Ng highlighted that the modern AI era stands firmly on the shoulders of two indispensable tools: supervised learning and generative AI.

Supervised learning’s prowess lies in its ability to ‘label.’ This tool transcends domains: from predicting ad clicks—vital for giants like Google—to advanced medical diagnostics and even spam detection. Its widespread applicability has entrenched supervised learning as today’s AI workhorse.

On the other hand, generative AI—though nascent and still relatively small compared to the current supervised learning—holds untapped potential. As Dr. Ng envisions it, while supervised learning may double its influence in the coming three years, generative AI’s impact could grow much more quickly.

Unleashing AI’s Vast Potential: The Customization Challenge

For a moment, visualize all possible AI projects, ranked by their potential value. On one end, you have gargantuan projects like online advertising that cater to billions and rake in massive revenues. But here’s the catch: such projects require significant resources. Typically, they’ve been the realm of tech titans, demanding armies of engineers to execute.

Dr. Ng introduced the audience to a fascinating paradigm shift. Moving away from these behemoths, he spotlighted smaller projects—each potentially worth about $5 million. Examples included ensuring even cheese distribution on pizzas or optimizing wheat harvests with AI cameras. Such projects, once deemed financially unviable due to resource constraints, now lie within reach.

Most industries, Dr. Ng pointed out, are riddled with these $5 million opportunities. But there’s been a gap: the absence of an efficient way to execute them. Enter low-code platforms. These tools empower even smaller teams to customize AI solutions tailored to specific needs, leveraging their unique data. The rise of such tools signals a promising democratization of AI, allowing its benefits to permeate industries beyond just tech.

Navigating the AI Stack: A Glimpse into Opportunities

Dr. Ng provided a comprehensive overview of the AI stack and the myriad opportunities it offers:

• Hardware Layer: Though pivotal, this realm is capital-intensive, with only a few players dominating. The barriers to entry are high, and therefore, it might not be the most accessible avenue for new entrants.
• Cloud Infrastructure: Similar to hardware, this layer is equally capital-intensive and concentrated. New entrants might find it challenging to break into this space, despite its undeniable potential.
• Developer Tooling Layer: This layer is a veritable battleground, brimming with competition. Startups might find success here, but only with a significant technological edge. Established entities benefit from distribution advantages, but startups need that technological edge to carve a niche.
• Application Layer: Surprisingly, this layer, which should technically be thriving given its foundational role in supporting the infrastructural and tooling layers, appears to be rife with opportunity and relatively less competition. Dr. Ng cited an intriguing example of applying AI in the realm of romantic relationship coaching—a collaboration between AI experts and the former CEO of Tinder, resulting in a unique relationship mentorship platform. This underscores the vast potential and diversity of AI applications awaiting exploration.

Crafting a Startup: The Ng Formula

Dr. Ng unveiled his systematic methodology for forming new startups:

• Idea Validation: Any idea brought to the table undergoes rigorous scrutiny. Through a month-long process, the feasibility—both market and technical—is ascertained. This isn’t about broad, nebulous domains like “AI in financial services,” but specific, actionable concepts, which can be effectively validated or dismissed.
• Founder Recruitment: Once the idea survives the initial validation, the search for a Founder-in-Residence or CEO begins. This individual, ideally with a blend of industry knowledge and entrepreneurial spirit, helps shape the venture further.
• Prototype & Feedback: A three-month phase follows where the core idea transforms into a technical prototype. This isn’t just about technology—it’s also about understanding market needs, gathering feedback, and refining the concept.
• Pre-Seed Growth: If the prototype shows promise, it moves into a year-long phase of refinement. Here, executive teams are formed, MVPs built, and the first set of customers are onboarded.
• Transition to Seed/Scale Phase: Once the MVP garners traction, it positions the startup to secure the next round of funding.

Dr. Ng’s emphasis was clear: While AI presents myriad opportunities across sectors, what’s essential is the marrying of AI expertise with domain-specific knowledge. One needs a concrete idea, not just a general domain, to make a meaningful impact.

Championing Ethical AI: Responsibility Over Revenue

Dr. Ng stressed that with the immense potential of AI comes a profound responsibility. AI’s capabilities are growing exponentially, but it’s vital to ensure these tools serve humanity positively.

At AI Fund, this commitment to ethics isn’t just a tagline—it’s a deeply entrenched philosophy. Every project undergoes ethical evaluation, and ventures that may harm societal values, irrespective of their commercial potential, are promptly discontinued. In Dr. Ng’s words, they “only work on projects that move humanity forward.” Such a stance ensures that as the AI community continues to evolve and make strides, it does so with the betterment of society at its core.

Berkeley’s Legacy in Nurturing AI Visionaries

Highlighting Berkeley’s monumental role in molding entrepreneurs, Jeremy Fiance recounted the transformative experience SCET offers to its students. Alumni, such as the founder of DoorDash, are a testament to SCET’s far-reaching influence in the entrepreneurial world.

“Many great [Berkeley] alumni entrepreneurs have taken [SCET] classes to learn about entrepreneurship and went on to start huge impactful companies in the world, so if I were you if if I was a student in this room after this I’d go sign up for one of these classes as fast as humanly possible,” said Fiance about the impact he has seen with students taking SCET courses.

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At TechCrunch Disrupt 2023, the UC Berkeley Disaster Lab hosted a roundtable discussion on “Driving Practical Global Collaboration in Disaster Tech.” The event brought together entrepreneurs, investors, and other stakeholders TC Disrupt attendees to discuss the challenges and opportunities of international collaboration in this critical field.

Disaster Lab Director Sukh Singh highlighted the urgent need for rigorously validated and field-tested disaster-related technology. He also discussed the importance of involving end-users in the product development cycle. By working directly with first responders and other stakeholders, technology companies can ensure that their products are meeting real-world needs.

The UC Berkeley Disaster Lab is committed to helping US companies expand their global reach in the disaster tech landscape. Through their initiative, they are providing support and resources to US startups that are looking to expand internationally.

The roundtable discussion concluded with a call to action for interested parties to collaborate and take the next steps in driving global collaboration in disaster tech. Singh invited participants to reach out to the Disaster Lab to learn more about their initiatives and to explore opportunities for partnership.

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The Neurotech Collider Lab, housed at UC Berkeley’s Sutardja Center for Entrepreneurship & Technology (SCET) and Bakar Bioenginuity Hub (BBH) is collaborating with the Brain Capital Alliance (BCA), a global effort to promote brain health and well-being, to accelerate the development and commercialization of neurotechnology solutions.

The collaboration was highlighted at the recent 77th United Nations General Assembly, where Neurotech Collider Lab Director Gail Gannon joined Dr. Harris Eyre, a leading figure in the brain capital movement and Lead of the BCA, to discuss the importance of brain capital for economic growth, innovation, and well-being.

“The brain capital framework is based on the assumption that our brains are our greatest asset and provides an approach to define brain issues, quantify them, and track them,” said Dr. Eyre. “This perspective underscores the necessity to integrate brain capital considerations across society and public and private sectors.”

The Neurotech Collider Lab is well-positioned to play a key role in this global endeavor. The lab brings together researchers, entrepreneurs, and investors to work on neurotechnology solutions that have the potential to improve brain health and performance.

“We are excited to collaborate with the Brain Capital Alliance to advance this important work,” said Gannon. “By combining our expertise and resources, we can accelerate the development and commercialization of neurotechnology solutions that can make a positive impact on the world. We wish to catalyze Californian leadership in this area.” 

The collaboration between the Neurotech Collider Lab and the Brain Capital Alliance is a testament to the growing recognition of the importance of brain health for individuals, societies, and economies. By working together, the two organizations can help to create a future where brain capital is central to human well-being.

Learn more about the Brain Capital Initiative:

• Learn about 7 steps for igniting the brain capital strategy,
• brain capital being highlited at the UNGA event, and
• the top five priorities to address brain disease and improve brain health.

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President Joe Biden recently visited the Bay Area to surface a discussion on the evolving nature of AI and its impacts on technology, business, society and national policy. UC Berkeley community members were active in contributing their views to the public discussion.

Shomit Ghose, an industry fellow at the UC Berkeley Sutardja Center for Entrepreneurship & Technology, highlighted the necessity of a nuanced understanding of AI for national strategy formulation. Ghose remarked, “An incomplete understanding of what generative AI truly is will yield both an incomplete national strategy and incomplete legislation.” He further emphasized the potential benefits of making AI infrastructure broadly accessible, drawing parallels to past governmental roles in developing physical infrastructure.

Chon Tang, a venture capitalist and founding partner with UC Berkeley’s startup accelerator SkyDeck, voiced appreciation for AI’s potential, especially in areas like medicine. He also expressed concerns over job losses to automation and intellectual property challenges in the AI sector.

Berkeley’s contributions to these discussions reaffirm its role as a nexus of academic research and policy guidance in the AI arena.

For a deeper dive into Biden’s meeting and expert perspectives, click here to access the full Mercury News article.

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In the venture capital realm, a mere 8%. That’s the staggeringly low representation of female partners in VC firms. While these numbers are alarming, a group of UC Berkeley alumnae are helping to change the numbers in a historically male-dominated field.

This fall, three of these alumni — Daisy Shobhana Garcia, Kaycee Antosiak, and Alexandra (Lexi) Burbey joined SCET’s BMOE Bootcamp as judges to provide feedback and mentorship on student venture projects. Two of these stellar women, Kaycee and Lexi, are also alumni of the Berkeley Method of Entrepreneurship (BMoE) Bootcamp course, taught by SCET instructor Gigi Wang, who has led the program since 2015.

“I am so excited to see UC Berkeley women alumni, especially my students, join the ranks of venture capital and moving that needle closer to the much needed diversity and equality in the industry,” said Gigi.

We followed up with Kaycee, Daisy, and Lexi to learn more about their path to become venture capitalists and what advice they would have for students who want to follow in their footsteps.

Q&A: Kaycee Antosiak

Early Stage Investor @ Plug and Play Tech Center

Are there specific lessons or experiences from the bootcamp that you still carry with you or draw upon in your current role?

“Culture starts at 5 people.” I remember Gigi sharing this lesson when she was talking about the importance of a founding team. As an early stage investor, I think about this often because so much of early stage investing is believing in the team. Likely the solution will pivot, and as an investor, you have to believe the team you’re funding will pivot appropriately. This is why culture is so important: can this group of people continuously problem-solve in a sustainable and respectful way? Culture isn’t something you can figure out “when the company is bigger” or when “it’s more successful” — it starts at the beginning, and it will dictate the future success of the business.

What motivated you to pursue a career in venture capital after attending the bootcamp?

The Bootcamp was the origin of my passion for startups and entrepreneurship. I originally enrolled in the course my last semester of college to round out my schedule and was not expecting to feel so enthralled with the process of entrepreneurship. Upon graduation, I worked in tech sales for a few years but kept returning to Bootcamp to mentor because I loved the energy the students brought to their startups. When reflecting on my long term career goals, I knew that I wanted a career filled with that same energy. So, I pivoted out of tech sales, moved into an operational role at a VC firm, and then moved to the investment team. Now, I get to speak to startups that carry that same energy. It’s like Bootcamp everyday!

How do you navigate the dynamics of the predominantly male-dominated world of venture capital?

Familiarize yourself with the way women statistically undersell themselves so you can be aware of potential missed opportunities — and then overcome. For example, if women statistically do not apply for jobs when they only have 80% of the qualifications but men apply when they have 50%, this should serve as encouragement and a reminder to put yourself out there for jobs even if you feel underqualified.

What do you find most rewarding about being a venture capitalist?

The most rewarding aspect about being a venture capitalist is meeting passionate founders and getting a glimpse into how they see the world. Every founder has a reason and a backstory as to why they’re obsessed with solving the problem they outlined.

What advice would you give to students currently participating in the bootcamp who aspire to break into the VC industry?

Network — but don’t be transactional. Remember, people are people first, and their job second. Take a genuine interest in someone for who they are. That will help you much more than asking for their title or place of work.

Looking back, is there anything you wish you knew or did differently during your time at the bootcamp?

I wish I took the Bootcamp earlier in my college career! Berkeley’s startup community is one of the richest there is and as a student, you have so much access to resources and people that want to help than any other time in your career.

How do you envision the future of venture capital, especially concerning gender diversity and inclusion?

VCs invest in people and problems they can relate to. As a predominantly male industry, this is why we see mostly men being funded. Of all the VCs, only about 8% are female! I envision that number is going to increase in the coming years but likely not fast enough. Not only is it good for gender diversity to see that number increase, but it’s better for the bottom line. According to an article in Inc., VCs firms that increased their female partners, saw a higher return on annual fund returns.

Q&A: Daisy Garcia

Investment Associate @ Prosperity7 Ventures

What motivated you to pursue a career in venture capital?

Intellectual curiosity and critical analytics were integral components of my scholarly journey studying Mathematics and Environmental Economics at UC Berkeley. Through my studies, I participated in hackathons, visited startups and big tech companies due to the proximity of campus to Silicon Valley.

These experiences strengthened my passion and interests in learning about deep tech and new technologies that will shape the future for generations. Today, I am pursuing a career in Venture Capital with a global fund, Prosperity7 Ventures that provides portfolio companies with the funding and connections they need to scale quickly, enter new and emerging markets, and attain global reach. Prosperity7 is backed by Saudi Aramco, the most valuable company in the world.

How do you navigate the dynamics of the predominantly male-dominated world of venture capital?

By being intentional about building relationships with founders and investors and being a member of communities for junior VCs to learn from each other and share our experiences navigating the ecosystem: Women in VC, VCFamilia, and EVCA. I also lean on mentors that have been successful in their careers for advice.

What do you find most rewarding about being a venture capitalist?

Backing teams that are building technology and making a bet on their vision of the future.

What advice would you give to students currently participating in the bootcamp who aspire to break into the VC industry?

Leverage the alumni network and school’s resources from student clubs to Skydeck and the House Fund. Learn about the industry from different investment stages to areas of investments: deep tech, enterprise, tech, consumer… Inquire about and explore internship opportunities to understand if Venture Capital is what you would like to pursue.

In your opinion, what changes or evolutions should we expect in the VC landscape over the next decade?

The use of more technology in investment processes — using AI/ML to streamline due diligence processes and firms becoming more data driven to identify potential investments and predict trends.

Q&A: Lexi Burbey

Investor @ G Squared

How do you believe the bootcamp gave you an edge in the VC world?

Empathy is one thing, experience is entirely another. In theory, I could’ve entered the venture world without ever having been a founder, but investors with operating experience have much more to offer the companies they work with. The bootcamp enabled me to take the risk to just start something. While BMOE wasn’t my first exposure to entrepreneurship (I grew up with two parents who owned their own small businesses), BMOE was my first exposure to basic startup concepts — TAM analysis, go-to-market strategy, product market fit, etc. I took the course my sophomore year and the experience influenced the entire trajectory of my college experience from there on. My bootcamp team took everything we learned in just a week and built a real business. Because of the foundation BMOE provided me to build from zero to 0.5 and the resources Cal provided me to continue to build from 0.5 to 1, I was able to pursue my goal of being an entrepreneur while completing my degree. I can now easily put myself in the shoes of every founder I invest in — this founder mindset is one of the most invaluable things anyone can gain in their undergraduate experience.

What do you find most rewarding about being a venture capitalist?

Hands down the people. I get to spend every day working with some of the brightest minds on this planet. It’s humbling, intensely fascinating, and stimulates my curiosity in a way I’ve never experienced. I’ll be the first to tell you that venture capitalists speak more than they act, but the best VCs are those that listen more than they speak and act only where meaningfully helpful. It is truly a privilege to be even the smallest part of these founders’ journeys and I’m grateful for this job every day.

How can aspiring female VCs and entrepreneurs better prepare themselves for success in this field?

Learn as much as you can, as early as you can, from your peers. Berkeley is a phenomenal ecosystem where many of your peers already live, breathe, eat, sleep entrepreneurship. Whether you aspire to be a founder or an investor, take this time to absorb information and meet the people around you. What are the problems people are trying to solve? How are the companies being built by peers different from the incumbent competitors they hope to replace? What are the aspects of that one founder’s style of building that you like / don’t? From there, you might just develop your next startup idea or your next investment thesis. You may even meet your cofounder. Always be listening and always be learning.

How do you envision the future of venture capital, especially concerning gender diversity and inclusion?

Like many, I’ve experienced what it’s like to be the first and only woman in a room, at a company, on a call, on a cap table. In venture, this is an almost daily occurrence. The unfortunate aspect of this all too common experience is that our industry is doing itself harm by leaving women out of the conversation. When women invest, and when women build, returns follow. Period. Incorporating more women into the venture capital sector is not just about achieving gender balance for the sake of diversity; it’s about leveraging a range of perspectives, experiences, and skills to make better investment decisions, foster innovation, and drive positive outcomes for startups and the economy as a whole. By the time I exit the ecosystem, I hope to see gender parity at the partner level, at the private company board level, and in founding teams. We achieve this by continually lifting while we climb – inviting more women to the table and, in some cases, relinquishing our own seat to allow others the opportunity to contribute. It means encouraging more women to invest at an earlier age via financial education. It means providing equal funding for female founders and funders in comparison to their male counterparts. Moreover, it means being a supportive ally, regardless of gender, when a woman becomes a part of our community in any role at any level. As an industry, we have decades of pale male history to unlearn, but every day we move closer to attaining minority parity and nearer to the point where our community can fully reap the rewards of this achievement.

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