Venture Risk Analysis: Understanding your project's failure points and how to avoid them
Vadim Gordin, J.D.
Director of NYU Tandon A/X Venture
NYU Tandon School of Engineering
NYU Tandon Future Labs consists of the Data Future Lab, the Digital Future Lab, the Urban Future Lab, and the Veterans Future Lab. Together they form the first public-private partnership with New York City tasked with creating a sustainable incubation program focused on increasing the success rate of new ventures and generating positive economic impact. The labs provide guidance, expertise, resources, and an entrepreneurial community needed to succeed in today’s innovation economy.
In particular, the Future Labs A/X Venture Studio brings together the NYU community and leaders in NYC’s entrepreneurship ecosystem to build viable companies from the world-class IP created at the university. The Venture Studio’s mission is to validate, refine, and co-create NYU IP that reduces human suffering, and to provide graduate NYU Tandon students a C-level apprenticeship to develop and launch viable healthcare businesses. The Future Labs team evaluates IP created within the NYU ecosystem for strong economic and human impact. They conduct targeted customer discovery and collaborate with clinical and scientific experts, the venture community, and potential corporate partners to identify projects that can change the world. In the event of a potential fit, they build and fund new teams of Venture Studio Fellows around each project comprising NYU Tandon graduate students and proven business leaders. The Venture Studio team then works with these teams in a 5-month studio sprint, functioning as a hands-on ‘fractional cofounder’ to validate and de-risk the technical and business aspects of each project. The goal is to launch a viable business or close a seed/Series A round at the conclusion of the studio sprint.