Vis-Tek is Improving Parking through the use of Artificial Intelligence
Posted by NTNU School of Entrepreneurship on 21. februar 2020
Artificial intelligence is one of the many buzzwords heard in entrepreneurship circles these days. Even though the technology has been around for over 50 years, it has recently been brought to the attention of many aspiring entrepreneurs.
The startup Vis-Tek is based at NTNU School of Entrepreneurship (NSE) in Trondheim. Vis-Tek is using artificial intelligence to give drivers an overview of free parking spots. Using deep neural networks to process CCTV cameras, their technology can detect cars at specific parking spots, making it possible to know whether the parking lot is full or if there are free spots for the users to park their cars. The drivers will also be able to get to know where to park through the EasyPark app, hopefully creating a better experience for everyone in urban communities. In addition, the solution will help to combat air pollution by making sure cars aren’t idling unnecessarily. Vis-Tek claims that they can reduce carbon emissions from urban driving by up to 30%.
Vis-Tek currently consists of three students at NTNU. Two of the students, Anders and Tord, are 4th year students at NSE with backgrounds in IT and mechanical engineering, and the third, Brede, is a fifth year student at Informatics. The team share an office space in the NSE incubator at NTNU together with another startup. Even though Brede is not enrolled in the NSE masters program, he is a part of the NSE community, and are happy with being an informatics student in a group of entrepreneurship students:
“The environment at NSE is great. It’s very exciting to work with students who come from various different study backgrounds. They all have different needs and at the same time complement each other in regards to skills and experience. This again creates a community where everyone helps each other, no matter the challenges”.
Brede believes that being a part of the NSE community is beneficial for a startup like Vis-Tek, a company that is competent in the technological aspects but might be lacking in other areas.
“Our team is quite technical and has previously focused more on creating the actual solution. Now that we are a part of the NSE community and my team members are enrolled in courses about business development, we have learned new ways of getting the message out and attracting customers in the market we operate. In other words, we really benefit from the network and knowledge that we acquire by being part of the NTNU School of Entrepreneurship. This has become especially evident during the application for FORNY StudENT, where we potentially can receive up to a million kroners from The Research Council of Norway”.
Vis-Tek has previously received funding for business development from Innovation Norway, and currently has Trondheim Parking as a pilot customer. The road ahead looks bright for the team in Vis-Tek.
The NTNU School of Entrepreneurship is always looking for motivated students who specialize in interesting fields of study and in important technologies, such as artificial intelligence. Do you want to learn more about the masters program? Check out entreprenorskolen.no for more information, and read about the best way to begin your startup adventure!