Artificial intelligence is where it’s at now. Organizations are implementing AI, but have yet to uncover its true potential across their entire business. That’s the vision of C10 Labs, an AI venture studio and fund. Patricia Geli, C10’s Managing Partner and COO, and the rest of the team at C10 Labs help empower AI-first startups.
Patricia is speaking on a panel entitled “Innovation at Scale: Keeping the Startup Spirit Alive” at Startup Boston Week 2024. But before she hits the stage, Patricia shared specifics about the inception and importance of C10 Labs, her role with Governor Maura Healey’s AI Strategic Task Force, and more with Startup Boston.
Startup Boston: I’d like to begin with C10 Labs and how it got its start. Why is it imperative to have this type of organization now?
Patricia Geli: C10 Labs was founded with the mission to be at the forefront of the AI revolution, recognizing the transformative impact that AI-first ventures are having across every industry.
What we mean by AI-first, or dimensional AI, are technologies at the interface of the digital and the physical worlds which will have profound implications for sectors like energy, healthcare, and manufacturing. AI-first solutions aren’t AI wrappers, which simply incorporate AI enhancements into pre-existing frameworks.
Given the rapid evolution of AI (ChatGPT reached 100 million users just two months after launching), we saw a need for a different model that can create economies of scale in venture building. As large incumbents seek to tap the promise of generative artificial intelligence, startups often struggle for months to find AI/ML talent. Our venture studio nurtures early-stage startups, providing them with the resources, including tech talent, mentorship, and strategic guidance necessary to succeed.
AI is not just an emerging technology — it's a paradigm shift that’s reshaping the global economy. By supporting extraordinary founders and teams, we can ensure that AI-first solutions are developed and brought to market quickly, creating scale and impact.
Most of the focus has been around core AI — chips, clouds, and foundation models. But these commentaries are missing how AI fits into an even larger story of global transformation. At C10, we’re on a mission to make Massachusetts the epicenter of applied AI innovation by growing AI-first startups, hosting dynamic events for founders, investors, and enthusiasts, and actively engaging with the community.
"AI is not just an emerging technology — it's a paradigm shift that’s reshaping the global economy."
SB: It’s coming up on almost a year now for C10 Labs. What’s the first year been like? Any surprises?
PG: The first year at C10 Labs has been incredibly dynamic and rewarding, filled with tremendous growth and learning. We've seen a remarkable level of innovation and collaboration from our cohort companies and have been impressed by their growth and agility in navigating the fast-paced AI landscape. We received over 300 applications over our two cohorts, and have 23 portfolio companies at the intersection of AI and climatech, govtech, health, genomics, life sciences, built world, fintech, and more.
We're constantly fine-tuning our curriculum to match the evolving needs of our cohorts, bringing on top mentors and industry experts to provide our teams with guidance and support. We’ve established key strategic partnerships with leading organizations (e.g., JPMorgan and ARPA-H) to provide teams with cutting-edge resources, industry insights, and networking opportunities to propel their growth. We’ve hosted dozens of events and attended even more (MIT, Northeastern, CIC, industry events, etc.) to foster connections, share insights, and stay at the forefront of industry trends.
SB: At Startup Boston Week 2024, you’re speaking on the panel, “Innovation at Scale: Keeping the Startup Spirit Alive.” For anyone who’s looking to scale their startup, what are some ways they can keep that momentum going?
PG: I would keep these steps in mind:
Refine your go-to-market strategy: As you scale, continuously reassess your go-to-market approach. This might involve expanding into new channels, refining your ideal customer profile, or adjusting your pricing strategy to ensure your competitive advantage.
Prioritize product-market-fit: Regularly re-evaluate your product-market fit using frameworks like Sean Ellis's PMF survey or by tracking retention cohorts. As you scale into new markets or user segments, be prepared to iterate on your product to maintain strong PMF.
Decentralize decision-making: Empower team members to make decisions within their domains to accelerate the decision-making process and foster a sense of ownership at all levels.
Embrace adaptability: The startup environment is dynamic, and what worked at one stage may not be effective at another. Be open to pivoting and experimenting with new ideas, especially in response to market changes, to stay ahead.
Engage with the broader startup community and seek mentorship/advice: Networking with other entrepreneurs, attending industry events, and participating in accelerators or incubators can provide fresh perspectives and opportunities for collaboration. Surround yourself with mentors and advisors as you navigate the complexities of scaling.
SB: Switching gears a bit. You’ve been named to Governor Maura Healey’s AI Strategic Task Force. What’s the goal of the task force, and how will it impact Massachusetts organizations? And what’s your role?
PG: The task force’s mission is to study the impact of AI and GenAI technology on Massachusetts, including its effects on private businesses, higher education institutions, and state constituents. We're looking at how these technologies affect every sector, from private businesses to higher education, and, importantly, how they impact our citizens.
My role on the task force draws on my experience managing complex, multi-stakeholder initiatives. Throughout my career, I've led large-scale investments and public-private partnerships across 55 countries, working with diverse organizations like the African Union, European Commission, and the U.S. government to stimulate innovation and economic growth.
On the task force, we conduct outreach, collect input from stakeholders and experts, and advise the governor and executive branch on the state's role in AI implementation. We're developing strategies to help businesses thrive in the AI era, supporting key industries in AI adoption, and creating an environment where AI startups can grow and succeed right here in Massachusetts.
I'm honored to collaborate with such brilliant minds on this task force. By leveraging our state's unique strengths — our world-class universities, innovative businesses, and talented workforce — I believe we will establish Massachusetts as the global leader in applied AI.
SB: And one more question. For anyone who’s looking to become an early-stage founder, what are some lessons learned you have that you can share?
PG: These are some that come to mind: Validate your idea early; stay adaptable; build a strong and complementary team; focus on customer-centricity; and maintain resilience through the inevitable challenges of the startup journey.
To learn more on this topic from Patricia, sign up for Startup Boston Week and attend her panel here.
Kathleen Ohlson is a Boston-based content writer with a background as a high-tech reporter and storyteller. With a passion for creating content that resonates with audiences, you can connect with her on LinkedIn.
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