Xplainable, the startup that won The University of Queensland’s (UQ) Ventures ilab Accelerator Pitch Night on 21 March, is driven by a mission to make machine learning (ML) user-friendly for all. Xplainable's approach bridges the gap between technical experts and business decision makers.
Their open-source software provides transparent explanations of ML predictions, fostering trust, and enabling an application to business strategies at all levels. With a focus on making ML accessible and understandable for everyone, Xplainable paves the way for inclusive decision-making and strategy enhancement.
Xplainable was one of 10 startups immersed in the three-month ilab Accelerator program through UQ Ventures, which offers funding and mentorship to transform ideas into market-ready startups.
Founder and UQ alum Jamie Tuppack, draws from years of experience as a data scientist across different domains. Observing the recent surge in advanced AI, such as Large Language Models (LLM), Jamie recognised the untapped potential of basic, structured ML to significantly improve operations for many businesses.
“Technical teams often exist in silos within a business. They have years of deep technical expertise and speak with jargon that the rest of the business doesn’t understand. I identified a need for clearer, simpler AI solutions,” he said.
Jamie's revelation sheds light on the enduring significance of ML, which has quietly shaped technological advancements for decades. With Xplainable, he unveils the transformative potential inherent in its simplicity. Amid the competitive arena of the UQ Ventures ilab Pitch Night, Jamie and Xplainable secured victory after months of dedicated hard work in the intensive ilab Accelerator.
With this win, UQ's support and the backing of the entrepreneurial community, Xplainable's journey has gained momentum. Pioneering transparent ML models, Xplainable reports excellent traction in industries including retail operations and insurance. The next phase entails capitalising on this traction to raise more capital, accelerating growth into other markets.
Nimrod Klayman, Head of Entrepreneurship at UQ, was impressed by the quality of businesses and pitches elicited through ilab and believes Ventures drives positive change locally and globally.
“Ventures and our initiatives reflect the entrepreneurial spirit of our community. We are bold and adventurous and work together to find opportunities to solve challenges creating positive change locally and globally. This first cohort of 2024 now join the 300 plus alumni who have gone through the ilab program.”
Congratulations to all four winners on the night.
- 1st Place Winner: Xplainable
- 2nd Place Winner: Flashback
- 3rd Place Winner: Joydrobe
- People's Choice Winner: Recovery Metrics
Based on ilab’s success and the demand for quality, founder accelerators in Queensland, Ventures has announced a new, second cohort for ilab in 2024, reflecting a commitment to nurturing entrepreneurial talent.
During the three-month program, each startup receives a $15,000 investment to prepare for the market. Founders work closely with Entrepreneurs in Residence, accessing extensive mentor and investor networks, workshops, industry events, and co-working spaces. Founders from all disciplines are encouraged to apply to this program which is open to all UQ students, alumni, and staff.
Join our upcoming information sessions on 2 May to meet the team and gain insights into the ilab Accelerator proudly delivered by UQ Ventures.
ilab Accelerator Chapter 2 applications close on 7 May 2024.
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Media: UQ Entrepreneurship Head, Mr Nimrod Klayman, ventures@uq.edu.au, +61 7 3443 2739; UQ Global Partnerships media, Olivia Adlard, o.adlard@uq.edu.au
