Rice University's Liu Idea Lab for Innovation & Entrepreneurship (Lilie) has announced the eight dynamic teams selected for the 2024 Lilie Summer Venture Studio, an immersive summer accelerator program designed to propel the university’s innovative ventures forward.
This year the program received a record number of applications and drew applicants from every degree program and major across the campus, reflecting the vibrant entrepreneurial spirit that thrives within the university's diverse community, said Kyle Judah, executive director of Lilie, an entrepreneurship center for Rice’s campus and alumni communities.
Each team will receive $15,000 in non-dilutive funding to accelerate their ventures, along with dedicated co-working space in the Liu Idea Lab throughout the summer. Participants will also benefit from personalized mentorship and education provided by Lilie staff and a network of experienced mentors deeply engaged in Lilie’s entrepreneurial ecosystem.
These teams will embark on an intensive journey over the summer, developing their ventures through hands-on workshops, strategic advising sessions and collaborative work within a community of fellow entrepreneurs.
“We are thrilled to see such a high level of interest and excitement from Rice students for a high-growth venture accelerator,” Judah said. “The diversity and creativity in this year's applications were truly inspiring, and we’re excited to support these promising ventures with the resources and mentorship they need to hit escape velocity and create the next generation of pillar companies for Houston, Texas and the world.”
The eight selected teams for the 2024 Lilie Summer Venture Studio are:
- Coflux Purification – Coflux Purification uses a patent-pending in-stream module that breaks down PFAS using a novel absorbent for chemical-free water.
- Docflow – Helping hospitals regain countless physician hours by streamlining residency shift scheduling.
- JewelVision – JewelVision makes it easier to buy jewelry online by building virtual fitting rooms for e-commerce using generative artificial intelligence (AI), starting with jewelry retailers.
- Levytation – Levytation's platform eliminates the guesswork for coffee shop management by using data science and AI to answer critical questions about sales and customers in seconds.
- OnGuard – Find. Book. Pay. Security made easy. OnGuard is the only marketplace for businesses and individuals to book off-duty police officers and security professionals.
- Roster – Roster makes recruiting the NCAA Transfer Portal 10x faster. Roster leverages the vast amount of data on each of the players that enter the portal and automatically sends updates on players that match their specified criteria from the portal to coaches.
- Solidec – Solidec extracts molecules from water and air, then transforms them into pure chemicals and fuels without any carbon emissions.
- Veloci – Veloci Running’s premium shoes elevate the running experience through designs that address the common pains impacting runners, empowering them to enjoy every stride.
“The Lilie Summer Venture Studio offers a unique opportunity for our students to transform their innovative ideas into viable businesses,” said Taylor Anne Adams, head of venture acceleration programs at the Liu Idea Lab. “We look forward to seeing the remarkable progress these teams will make over the next few months.”
Lilie fosters an environment where entrepreneurial thinking and action can flourish. The Summer Venture Studio is one of many initiatives that demonstrate the university's commitment to nurturing the next generation of leaders and innovators. Now in its 2nd year, the Summer Venture Studio accelerator provides an opportunity for Rice students and researchers to be dedicated, full-time founders for the summer. Two out of the six teams selected for the inaugural cohort of the Summer Venture Studio Accelerator in 2023, Helix Earth Technologies and Tierra Climate, were able to each raise venture capital funding rounds shortly after the accelerator concluded.
“The track record of our Summer Venture Studio Accelerator speaks for itself, despite being early in our second year. This is the power of entrepreneurship programming that is designed by founders, for founders, that happens at the Liu Idea Lab,” Adams said.
For more information about the Lilie Summer Venture Studio and other Lilie programs, please visit entrepreneurship.rice.edu or entrepreneurship.rice.edu/rice-startup-accelerator