Ada IQ Secures $275,000 NSF SBIR Phase One Award to Integrate AI Design Platform with PTC

SUMMARY:
Boston-based Ada IQ has won a $275,000 NSF SBIR Phase One award to integrate its AI Design and Insights platform with PTC Onshape, advancing AI-driven product design. This grant brings Ada IQ's total non-dilutive funding to over $1.25M, supported by Techstars, NSF, and Northeastern University, positioning it as a leader in AI and design innovation.

Boston, MA – June 4, 2024 — Ada IQ, a leader in AI-driven product design, is thrilled to announce it has been awarded a $275,000 Phase One Small Business Innovation Research (SBIR) grant by the National Science Foundation (NSF). This prestigious grant will fund the integration of Ada IQ's pioneering Design AI platform with advanced 3D computer-aided design (CAD) systems, including Ada IQ’s integration with the PTC Onshape® CAD and PDM platform. PTC, a global company renowned for its CAD and product life cycled management software, will serve as the commercial partner for this innovative project.

Ada IQ aims to revolutionize how designers and engineers create consumer products and plans to further its research by blending Ada IQ's AI-driven market analytics with the CAD capabilities of Onshape. This API integration will explore how AI transforms product design by enabling more data-informed decisions, reducing time to market, and enhancing product relevance to consumer needs.

Dr. Tucker Marion, co-founder of Ada IQ, shares his vision for the project: "This NSF SBIR award is a pivotal step forward for Ada IQ and for the future of AI in product design. Our integration with Onshape represents the cutting edge of integrating market-driven analytics with design processes, which we call Design for Needs (DFN). We envision a world where every design decision is informed by deep, actionable insights, enabling creators to design products that truly resonate with consumers. This is the future of product development – smarter, faster, and more attuned to market demands."

Greg Brown, a Vice President of Product at PTC, said: "The integration of Ada IQ's AI-driven analytics with the PTC Onshape platform is an exciting development for the industry. Dr. Marion and the Ada IQ team have a strong vision for creating products that are not only innovative but also precisely tailored to meet market expectations. We look forward to the research progressing and telling us more about how AI can streamline product development and support designers and engineers worldwide."

The NSF SBIR Phase One award is a testament to Ada IQ's innovative approach and the potential of its technology to make a substantial impact on the product design industry. NSF SBIR programs are highly competitive and provide non-dilutive grant funding for the development of deep technologies, based on discoveries in fundamental science and engineering for societal and economic impacts. This non-dilutive grant brings the total funding to over $1.25M, including support from Techstars, NSF, and Northeastern University.

For further information about Ada IQ and its integration with PTC Onshape, please visit www.adaiq.com.

About Ada IQ

Ada IQ is at the forefront of leveraging artificial intelligence to transform product design. By integrating AI-driven insights into the design process, Ada IQ empowers creators to develop products that not only meet but exceed consumer expectations. Ada IQ is a techstars_ ’24 company.

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