World News: 04:00 GMT Friday 7th December 2018. [7 Chord, Inc. via Businesswire via SPi World News]
7 Chord, Inc., creator of BondDroid, a proprietary AI system that forecasts bond market trends, was among the 8% of applicants accepted into Creative Destruction Lab-New York City (CDL-NYC) at NYU’s Stern School of Business. 7 Chord was the only fintech start-up of 27 companies accepted into the 2018-2019 cohort.
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“At CDL-NYC, we admit ventures with the potential to disrupt entire industries. 7 Chord stood out during our application process as having a unique combination of technology and talent that we believe could disrupt the $40 trillion fixed income market. We look forward to the company’s great success,” said Deepak Hegde, Director of CDL-NYC.
Originally launched at the University of Toronto, CDL is a seed-stage program for massively scalable, disruptive, science-based companies. CDL-NYC differentiates itself by its outstanding network of world-renowned scientists and its inter-disciplinary focus on deep tech.
"Over the years I have had the honor to work with Roy Lowrance, a leader in the AI technology community," said Paul Horn, NYU Distinguished Scientist in Residence and former head at IBM Research, under whose leadership IBM produced an unmatched string of technological breakthroughs, including Deep Blue. "I congratulate 7 Chord for attracting as Chief Scientist someone with his deep knowledge and background."
Through the program, startup founders are coached by business mentors, investors and scientists to meet individualized business objectives on eight-week intervals. CDL-NYC is an academic initiative of NYU’s Stern School of Business, CDL-NYC does not take equity or collect fees from startups. Its operations are supported by its Founding Partners and Corporate Partners. However, startups that fail to execute on their objectives can be cut from the program at the discretion of the mentors, so that resources can be concentrated around ventures that are excelling. Those that meet their objectives are likely to attract investment from the program’s mentors, as well as from one of the many venture capital firms that are represented in the program.
“Working with CDL-NYC formalizes our long-standing relationship with one of the world’s greatest educational institutions. We are an active recruiter of the top engineering and data science talent on campus, and several founders are NYU alumni. In March 2018, 7 Chord was a sponsor of HackNYU, its annual 48-hour hackathon,” said Kristina Fan, Founder and CEO of 7 Chord.
For more information about the Creative Destruction Lab, please visit https://www.creativedestructionlab.com/ and follow on Twitter: @creativedlab
For more information about 7 Chord, Inc., please visit http://www.7-chord.com/ and follow on Twitter: @7chordbd.
Business Wire: 04:00 GMT Friday 7th December 2018
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