Skolkovo’s IT cluster resident VisionLabs became the only Russian company among the 12 best world startups according to American Intel Technology To Market Accelerator@UC Berkeley (T2MA). The key expertise of VisionLabs include video recognition algorithms of number plates, faces and people’s actions
VisionLabs received an Intel prize during the Startup Village in May 2013, which led them to participate in the training organized by the business school of Berkeley University and Intel Corporation. In the course of the training VisionLabs management communicated with Intel representatives and professors of Haas School of Business discussing and polishing various aspects of their business model: defining the customers, key patners and ways of commercialization. As a part of the training the startup had to conduct a minimum of 100 interviews with potential clients during two months. These interviews allowed VisionLabs not only to participate in T2MA but also to find new clients.
Alexander Khanin (third from the left) and his team
Since its founding in April 2012 VisionLabs placed its stake on the ‘civil’ application of video analysis, which still remains the domain of intelligence and security agencies to a large extent. For instance, face-recognition technology is mainly used for terrorists search or tracking car number plates. VisionLabs executive director Alexander Khanin explained that he and his colleagues decided that this technology can be successfuly used in various businesses, such as banking or retail: «The ‘civil’ application of video analysis is much wider than military or security services usage».
There are dozens of similar companies in the world, but VisionLabs has a strong competitive advantage - an algorithmic know-how that gives its product a unique software and hardware system that operates independently of the platform. «Most developers write algorythms for personal computers, whereas our source code can be compiled for any platform, be it a powerful server, notebook, smartphone or digital camera». The startup is currently aimed at fraud prevention and raising the quality of client service in banks.
According to Khanin, «the common opinion is that the field we are working in will develop fast in the near future. May be in some years face-recognition system will be massively installed to notebook computers and houses».
The outcome of meetings with investors in California became a decision about the engagement of one of the well-known Silicon Valley investors in the consultative council of VisionLabs.