Translating Software Development from Concept to the Marketplace through the Innovation Corps

Bayesic Technologies, Llc, Oklahoma City OK

Investigators

Abstract

PROJECT SUMMARY Bayesic Technologies, LLC, proposes to participate in the I-Corps program predicated on our STTR Phase I award 1R41GM126615-01A1 ?Development of a User-friendly Bayesian Software Package: Proof of Concept.? This project aims to meet researchers? increased demand to i) use Bayesian statistical methods to analyze data and ii) do so using easy-to-use software that is intuitive, interactive, time-efficient, and incorporates the most current technology. Our proposed software will include the three primary capabilities common to all statistical software: i) import and process data, ii) create descriptive statistics and plots, and iii) perform inferential estimation and hypothesis testing. The specific aims include Aim 1: the development of accurate and valid functionality which will allow users to specify a prior distribution and output a posterior distribution after quantitatively incorporating the researcher?s own data; Aim 2: Develop a user-friendly graphical user interface such as point-and-click/dropdown menus to perform Bayesian analyses; and Aim 3: Develop touch-screen functionality to allow users to specify hand-drawn distributions which will incorporate state-of-the-art technology so users can draw a variety of distributions with their finger or a stylus. We anticipate improving our ability to conduct hypothesis-validation methods to identify and mitigate gaps in knowledge relating to developing our business plan ? especially relating to commercialization. We aim to gain knowledge about determining the value of our product, identify customers, collect data on customers? pain points, identify key resources and partners interested in our product, discover the optimal distribution channel(s), learn how to improve customer relationships, and develop a data-driven cost structure. We also aim to conduct at least 100 interviews as part of the customer discovery process. As a result of gaining this knowledge and experience, we will be able to maximize the impact of our commercialization strategy to bring a valuable product to the marketplace that ultimately improves the quality of biomedical research and improves the public?s health.