Venture Advisor - Pharmacy Inventory
Posted on Sunday, September 10, 2023
Who We Are:
AI is the new electricity. Just as it transformed entire industries 100 years ago, AI is poised to do the same today. AI Fund is a venture studio that was formed to be at the forefront of this revolutionary wave. We harness artificial intelligence to create innovative solutions for the big challenges of today. With the collective aspirations of our co-founders, we build companies from inception to market launch. We innovate, ideate, and validate to address some of the most pressing issues in human capital, healthcare, wellness, and other traditional industries.
Founded in 2017 by Dr. Andrew Ng, the $176 million-dollar funded venture studio is backed by top-tier VC firms and investors, and powered by the AI Fund teams’ combined experiences as AI pioneers, entrepreneurs, venture capitalists, and operators.
Why Partner with AI Fund:
We’ve been there. We’ve founded and scaled successful companies ourselves, and we know that creating meaningful startups is really hard. Many entrepreneurs toil with ideas for years. Many spend time building something without the foresight of limiting factors that could have been easily dismissed upfront. Accomplished execs often teeter between a desire to start a company and creating something great versus taking a job that is less fulfilling. If only someone could help with taking the risk out of turning an idea into reality and accelerate the company building process, more people would be inspired to start a company. Coming up with great ideas, sussing them out, assembling great teams, and helping raise capital is what we do. We shorten a process that can take years down to months.
We make sure you are going after the right market, are fully validated, and are surrounded by great teammates. Lastly, we make sure you see the world through the lens of a data scientist and machine learning expert, which is the perspective any meaningful company in the future must have. But we also know that the process is not about us. It’s about great Founders and empowering them to do great things.
What We Seek:
The Venture Advisor will act as an auxiliary to the firm and will have the primary goal of helping launch and grow companies. We are looking for individuals who have demonstrated the ability to start companies and have invested in early stage companies. They should have the ability to morph and steward companies from zero to one and the investment prowess to know whether to invest our time in a project or kill it quickly.
About Portfolio Company:
This company will develop an AI-based solution that will forecast demand and optimize the inventory levels of drugs at pharmacies. This will reduce waste, improve profitability and ensure patients have access to the medications they need.
What You Will Be Doing:
- The successful candidate will help build and advise companies. The expectation in terms of time spent is 5 - 8 hours a week during the three months co-building phase and then on average 2 hours a week for 2 years after the FIR receives funding from AI Fund.
- The Venture Advisor will work with Associates and the Partners to move a company through several stages:
Hypothesis and Early Validation: The Venture Advisor may work with Associates and the Partners to formulate a hypothesis and do early validation. This would include: Definition of the problem, understanding the competitive landscape, market analysis, early customer validation.
Hiring of Founder-In-Residence (if applicable): The Venture Advisor will be active in the recruiting process of the FIR and act as the hiring manager. The Venture Advisor will act as a coach/mentor or as a sounding board to the FIR whenever necessary. The Venture Advisor will continue to work with the FIR towards getting the company from zero to 1.
Co-Building: Working with the FIR and Company to continue building, validating, and iterating on the PC, including carrying out a study of the most viable approach to deploying the desired products or services. Explore potential MVP product designs. Help develop an actual, market-ready prototype using low-code / no-code platforms. Help identify possible approaches for a commercially viable go-to-market (GTM) strategy, optimized for the initial cohorts as well as follow-on audiences. Help identify best candidate business models for pre-revenue and revenue-based monetization strategies. Help finalize an investor-ready deck which may be used to proceed with fundraising if appropriate.
Launching a project:We will invest in the company to build a team, launch the MVP, and ultimately seek external funding. The Venture Advisor will continue to work with the FIR as an active Executive Board Member with the goal of getting the company from zero to 1 and securing an outside round of capital within a year of closing the pre-seed financing.
What You Must Bring:
- Experience in building a successful startup from 0 to 1 resulting in an exit (large or small) multiple times.
- Prior operating, product or engineering executive experience.
- Experience raising venture capital financing or have worked as an Angel Investor or for a VC in an investment capacity.
- Highly collaborative work-style, pragmatic, and resourceful problem-solverCapability and desire to build relationships and network within the venture industry.
- Demonstrated problem-solving, quantitative and qualitative analysis skills, including deep familiarity with high-tech startup.
- Approaches work with an unparalleled level of personal ownership, responsibility, integrity, and ethics
Characteristics We Value:
- Accountability: an obligation or willingness to accept responsibility or to account for one's actions while doing so with the highest regard for integrity.
- Leadership: able to influence others to follow you and lead the team to a brighter future.
- Grit: able to stick with projects and work hard through good and bad times. High pain tolerance and can perform well under stress or pressure.
- Scrappy: takes initiative and is proactively able to get things done with low resources, but doing creative things, begging, borrowing, and whatever is needed in an ambiguous environment or situation.
- Ownership Orientation: Demonstrated orientation of extreme ownership over all aspects of the company and extremely results-driven in nature.
At AI Fund, we are committed to providing an environment of mutual respect where equal employment opportunities are available to all applicants without regard to race, color, religion, sex, pregnancy (including childbirth, lactation, and related medical conditions), national origin, age, physical and mental disability, marital status, sexual orientation, gender identity, gender expression, genetic information (including characteristics and testing), military and veteran status, and any other characteristic protected by applicable law. AI Fund and Cerebro believe that diversity and inclusion among our employees is critical to our success as a company, and we seek to recruit, develop, and retain the most talented people from a diverse candidate pool. Selection for employment is decided on the basis of qualifications, merit, and business need.