Founder, Industrial Automation AI

As the Founder/CEO at Forum's Venture Studio, you will be tasked with leading a new venture in developing AI-driven PLC programming solutions. This includes strategizing business frameworks, fostering partnerships across hardware and software ecosystems, validating concepts, and ultimately driving the new venture towards achieving its goals while navigating complex industrial landscapes. Your leadership will be pivotal in helping the mid-market industrial sector transition to innovative automation solutions.

The ideal candidate for the Founder/CEO role at Forum's Venture Studio should possess a strong technical or product background in industrial automation and control systems, as well as experience in early-stage or venture-backed companies. Proven strategic problem-solving skills and an entrepreneurial mindset are essential to navigate the specific needs of mid-market industrial firms.

Forum's Venture Studio is dedicated to supporting its founders through various means. From a $250K investment to access an extensive fundraising playbook, the studio provides comprehensive assistance. Founders will benefit from high-touch support, valuable insights from experienced operators, introductions to a powerful network, and numerous business perks worth $100K to help ensure early traction and success.

The market opportunity for the AI-driven PLC programming solution is substantial, valued at $10 billion. With 57% of industrial production revenue generated by mid-market and smaller companies, there is a clear demand for more flexible, cost-effective solutions. This venture targets organizations in sectors like oil & gas, water utilities, and automotive, presenting a highly lucrative opportunity to reduce costs and streamline operations.

Founders at Forum's Venture Studio can expect a supportive and collaborative company culture that values mentorship and community engagement. The studio emphasizes creating an environment where honest feedback is encouraged, and founders are provided with opportunities to connect with other entrepreneurs and industry leaders who can offer guidance and insights throughout their startup journey.

Beneficial experience for the Founder/CEO position includes having a background in industrial automation, control systems, or AI-driven technologies. Demonstrated success in navigating early-stage startup challenges and building partnerships within complex industrial landscapes will be critical. A commitment to transforming automation through innovative solutions will set you apart as a strong candidate for this role.

It's important to note that the Founder/CEO position is not an employment opportunity within Forum Ventures itself. Instead, this role is for those entrepreneurs who are looking to establish their own venture with the support and backing of Forum's Venture Studio. This unique arrangement allows you to leverage Forum's resources while driving your own business forward.

To effectively lead a new venture, I would start by conducting thorough market research to understand the needs of mid-market industrial companies. Developing a comprehensive business plan that focuses on delivering adaptable and cost-effective solutions would be essential. Building a strong team culture and establishing robust partnerships will also be a priority to support growth.

Validating the idea would involve several key strategies, including engaging potential customers to gather feedback on the proposed solution, conducting pilot projects with select clients, and building a minimum viable product (MVP) that can be tested in real industrial settings. Continuous iteration based on feedback will ensure we meet market demands effectively.

In my previous role, I encountered a significant challenge where an existing PLC system caused operational delays due to its proprietary nature. I initiated a project to explore customizable alternatives, leading to the development of an adaptable solution that not only streamlined operations but also significantly reduced costs for our client, improving their overall efficiency.

My experience with fundraising includes successfully securing investments from venture capital firms by pitching compelling business ideas, showcasing market potential, and demonstrating viable growth strategies. I believe in building authentic relationships with investors and maintaining transparent communication throughout the process.

Success in this role would be defined by achieving both revenue milestones—targeting $50-100K in annual recurring revenue (ARR)—and making a tangible impact on the industrial automation industry. Additionally, fostering a strong network and community among peers and customers that supports the ongoing growth of the venture would also signify success.

Building partnerships will involve leveraging my existing network of contacts within the industry and strategically reaching out to potential collaborators who align with our mission. Engaging in industry events and forming consortiums with both hardware and software providers will expand our reach and facilitate mutually beneficial relationships.

Essential qualities include resilience, adaptability, and a strong vision for the future. A successful founder should also possess excellent communication skills to effectively convey ideas to their team and stakeholders and should have a passion for innovation to drive the venture forward under various circumstances.

I would fully utilize Forum's comprehensive support system by engaging with the operating team's expertise in business design and product development. Additionally, leveraging the network of mentors and peers will provide critical insights into navigating challenges and seizing opportunities as we scale.

I am deeply motivated by the potential to drive efficiency and cost savings within the industrial automation landscape. By developing innovative solutions that empower companies to optimize their operations, I believe we can make a substantial impact on their productivity and, consequently, on the economy as a whole.

AI will play a crucial role in our PLC programming solution by enabling predictive maintenance, automating routine tasks, and enhancing decision-making processes through data analysis. Incorporating AI will allow our solution to adapt to varied industrial environments, meeting the unique needs of every user more effectively.