Science & Technology

Tech entrepreneur Naveen Jain fleshes out plans for BlueDot innovation factory

Naveen Jain’s Moon Specific is properly alongside in its plans for a lunar mission next year, however the Seattle dot-com entrepreneur can also be pursuing “moonshots” right here on Earth via his BlueDot venture.

BlueDot, primarily based in Bellevue, Wash., came into the open last November with the aim of turning the discoveries made at analysis establishments across the nation into progressive merchandise. On the time, Jain advised GeekWire that the enterprise’s first technological targets could be charging units that harvest ambient power and non-invasive units that detect pathogens.

Now we’re studying how BlueDot plans to proceed, and the way a lot it should take.

CNBC reports that the enterprise has introduced in $8.3 million in funding, which interprets right into a valuation of $60 million. And NASA astronaut Scott Parazynski has surfaced as the corporate’s co-founder and chief know-how officer.

That’s an fascinating alternative: Parazynski is an M.D. who served as John Glenn’s “private doctor” throughout his history-making space shuttle flight in 1998. After leaving NASA, he took on excessive adventures starting from an Everest climb to medical service in Antarctica. There’s even an area connection: His dad and mom reside in Bellevue.

The enterprise’s different founders embody chief working officer Deepak Savadatti, who has lengthy expertise within the semiconductor business; and Sony Mordechai, a serial entrepreneur and investor who’s the corporate’s chief info officer.

BlueDot’s astronaut angle, and Jain’s standing as co-founder and chairman of Moon Specific, display that the veteran of the InfoSpace, Intelius and Talentwise is open to additional frontiers. That goes not solely for house journey, but additionally for new approaches to tech growth.

Jain says that BlueDot is “not an incubator or an accelerator, however a wholly new asset class.” He factors out that the federal authorities spends tens of billions of dollars a 12 months on analysis and growth, however that most of the ensuing applied sciences don’t get commercialized as a result of they’re not fairly prepared for prime time.

BlueDot’s enterprise mannequin entails licensing applied sciences developed at a analysis heart, then placing collectively a administration group to create an organization round that know-how. BlueDot owns the corporate, whereas the analysis heart receives royalties as a payback on the federal government’s funding.

“Our mannequin is easy: If you will discover a know-how that may assist a billion individuals, there’s little doubt in my thoughts which you could create a $10 billion firm,” Jain advised GeekWire.

For example?

“Think about a twig which you could spray on a Kleenex, and once you sneeze on it, it should let you know whether or not you’re sick,” Jain stated. The colour of that moist tissue might let you know whether or not you will have the sniffles or one thing extra severe.

Different prospects embody hand-held MRI-type diagnostic devices, and genetic-engineering strategies to maintain mosquitoes from spreading malaria.

“The type of know-how I’m seeing is simply mind-blowing,” Jain stated.

The way in which Jain sees it, commercializing these applied sciences might assist billions of individuals, and make billions of {dollars} within the course of. That will sound formidable – however that’s what moonshots are all about.

This report was up to date at 2:10 p.m. PT April 19 with additional feedback from Jain.

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