RedShred, an artificial intelligence startup in the bwtech@UMBC incubator, and UMBC have been awarded a National Science Foundation (NSF) Phase II SBIR grant. In addition to being a first for RedShred, this is the first NSF Phase II SBIR industry-partnership subaward in UMBC’s history.
Working with Dr. Tim Finin and graduate students in the Department of Computer Science and Electrical Engineering at UMBC, RedShred has developed unsupervised AI techniques to identify a document’s semantic DNA. The results are then used to create “at-a-glance” summaries of complex documents tailored to users’ needs all without ever opening the documents. These summaries appear similar to “answerboxes” from a Google search results page or “infoboxes” from Wikipedia. This technology can also be used to automatically tag documents with metadata, extract important facts, identify major topics of interest, improve search results and provide provenance to the data by linking back to the original source document passages.
Founded by UMBC alumni Jeehye Yun and Jim Kukla, RedShred ends the need to read boring but important documents.
Using state of the art AI and machine learning technologies to search and read documents from federal public sources, RedShred finds leads for business developers/salespeople. It acts as your virtual business development assistant to automate the painful tasks of searching and sifting through data to find the information you need, right when you need it.
NSF’s Seed Fund programs award $200 million annually to startups and small businesses, transforming scientific discovery into products and services with commercial and societal impact. Startups working across almost all areas of science and technology can receive up to $1.5 million in non-dilutive funds to support research and development (R&D), helping de-risk technology for commercial success. America’s Seed Fund is congressionally mandated through the Small Business Innovation Research (SBIR) program. The NSF is an independent federal agency with a budget of about $7.5 billion that supports fundamental research and education across all fields of science and engineering. For more information, visit seedfund.nsf.gov.
The Refinery teamed up with angel and venture capital investors to host it’s second annual multi-city Fueling the Growth pitch competition to uncover the top technology-driven, women-led companies that are ready to scale. Participating cities included Boston, MA, Hamden/New Haven, CT, and Newark, NJ. We partnered with each city to coordinate Fueling the Growth with other entrepreneurial events. In Boston, our pitch event was during WEBOS, a week of women’s entrepreneurial programming sponsored by the City of Boston. In Hamden/New Haven, we were hosted by Quinnipiac University during Connecticut Innovation Week, and in Newark, we participated in Newark Tech Week and Summit.
RedShred has been awarded a continuation of their NSF Phase I to develop unsupervised to extract key topics from large, complex documents and convert the information into answerboxes.
The Refinery, Uber and the Kauffman Foundation announced the 25 semi-finalists from five U.S. cities who will be pitching to investors in the Fueling the Growth with UberPITCH competition on Wednesday, November 16, at the Stamford Innovation Center. The Top Ten will pitch at 7:00pm to split $120,000 in grant awards. All 25 semi-finalists will be showcasing their companies from 6 p.m. to 7 p.m., just prior to the finals pitch.
The semi-finalists were selected out of a field of more than 300 who applied to compete in the investor pitch competition. On October 26th, 150 women tech entrepreneurs pitched to investors while taking a fifteeen-minute Uber ride. Thirty investors heard the pitches in five cities, including Providence, New Haven, Stamford, Washington DC and Kansas City. The investors selected the top companies from those rides to be the semi-finalists.
RedShred and the University of Maryland, Baltimore County (UMBC) has been awarded an National Science Foundation (NSF) Phase I STTR. Working with Dr. Tim Finin, the team are developing unsupervised AI to extract key data from large, complex business documents.