Rice University’s Liu Idea Lab for Innovation and Entrepreneurship (Lilie) has announced the eight dynamic teams selected for the 2024 Lilie Summer Venture Studio, an immersive summer accelerator program designed to advance the university’s innovative ventures.
This year, the program received a record number of applications, with applicants coming from every degree program and major on campus, reflecting the vibrant entrepreneurial spirit fostered within the university’s diverse community, said Kyle Judah, executive director of Lilly, Rice’s entrepreneurship center for campus and alumni communities.
Each team will receive $15,000 in non-dilutive funding to accelerate their venture, as well as dedicated co-working space in the Lilie Idea Lab over the summer. Participants will also benefit from personalized guidance and education from Lilie staff, and a network of experienced mentors who are deeply involved in Lilie’s entrepreneurial ecosystem.
These teams embark on an intensive journey over the summer to develop their venture through hands-on workshops, strategic advising sessions and collaboration within a community of fellow entrepreneurs.
“We are thrilled that Rice students have shown such high interest and enthusiasm for our Rapid Growth Venture Accelerator,” Judah said. “The diversity and creativity of this year’s applicants is truly inspiring, and we are excited to support these promising ventures by providing the resources and mentorship they need to reach escape velocity and create the next generation of pillars for Houston, Texas, and the world.”
The eight teams selected for the 2024 Lilie Summer Venture Studio are:
- Coflux Purification – Coflux Purification uses a patent-pending in-stream module to break down PFAS using a novel absorbent, producing chemical-free water.
- Docflow – Helps hospitals avoid wasted physician time by streamlining residency shift schedules.
- JewelVision – Starting with jewelry retailers, JewelVision uses generative artificial intelligence (AI) to build virtual fitting rooms for e-commerce, making it easier to buy jewelry online.
- Levytation – Levytation’s platform takes the guesswork out of coffee shop management by using data science and AI to answer key questions about sales and customers in seconds.
- OnGuard – Search. Book. Pay. Security made easy. OnGuard is the only marketplace where businesses and individuals can book off-duty police and security professionals.
- Roster – Roster makes NCAA Transfer Portal recruiting 10x faster. Roster leverages the vast amount of data on each player who enters the portal and automatically sends coaches up-to-date information on players who match your specified criteria from the portal.
- Solidec – Solidec extracts molecules from water and air and converts them into pure chemicals and fuels with no carbon emissions.
- Veloci – Veloci Running’s premium shoes enhance the running experience through designs that address common pain points among runners, allowing runners to enjoy every step.
“The Lily Summer Venture Studio provides our students with a unique opportunity to turn their innovative ideas into working businesses,” said Taylor Ann Adams, director of the Liu Idea Lab’s venture acceleration program. “We look forward to watching these teams make impressive progress in the coming months.”
Lilly fosters an environment where entrepreneurial spirit and action can flourish. The Summer Venture Studio is one of many initiatives that demonstrate the University’s commitment to developing the next generation of leaders and innovators. Now in its second year, the Summer Venture Studio Accelerator offers Rice University students and researchers the opportunity to become dedicated, full-time founders over the summer. Of the six teams selected for the 2023 Summer Venture Studio Accelerator’s first year, two teams, Helix Earth Technologies and Tierra Climate, were able to raise venture capital funding rounds immediately following the conclusion of the accelerator.
“The Summer Venture Studio Accelerator’s track record, despite only being in its early second year, speaks for itself – this is the power of an entrepreneurial development program designed by founders, for founders, and delivered at the Liu Idea Lab,” Adams said.
To learn more about the Lilie Summer Venture Studio or other Lilie programs, visit entrepreneurship.rice.edu or entrepreneurship.rice.edu/rice-startup-accelerator.
