CREATE Monthly PI Seminar Series (July 2018)
Event Date: 06 Jul 2018 03:00 AM - 06 Jul 2018 05:00 AM
Event Venue: CREATE Seminar Room
xYotta: How to foster innovation through an idea generation ecosystem and virtual markets - How to turn ideas into virtual start-ups
By Professor Didier Sornette
Can the wisdom of the crowd and market mechanisms help to identify the best ideas and talents to be promoted, improved and exploited in real life ventures?
At this CREATE PI seminar, Prof Didier Sornette, professor at the chair of Entrepreneurial Risks at ETH Zurich and principal investigator at the Future Resilient Systems, will discuss how xYotta can help individuals and teams develop their ideas into collaborative projects.
xYotta offers a natural platform for scientific collaboration, allowing users to develop joint projects and share the results of their work with a selected community and allowing comments and feedback.
It can also be used by educators to empower the next generation of entrepreneurs, such as facilitating student collaboration; evaluating the quality of students’ work using the market in continuous time; and getting transparent access to student performance.
Enterprises can use xYotta to utilize the creativity of human capital, by collecting ideas from employees bottom-up; identifying talents for entrepreneurship in your organization; and motivating employees by empowering them to develop new ideas and projects.
xYotta offers 4 products that can be utilized separately or together, in any combination:
- Project collaboration: collaborate in real-time with your desired community in a secure space
- Exchange market: take advantage of a virtual market to assess the value of projects and ideas
- Prediction market: easily setup prediction markets to predict the outcome of any event
- Toolkit: use state-of-the-art tools to produce and integrate technical, scientific results and world-class statistics into your project.
Didier Sornette is Professor on the Chair of Entrepreneurial Risks at the Swiss Federal Institute of Technology Zurich (ETH Zurich) since March 2006. He is also a professor of the Swiss Finance Institute, and a professor associated with both the department of Physics and the department of Earth Sciences at ETH Zurich. He is a founding member of the Risk Center at ETH Zurich since June 2011. He is a PI at the Future Resilient Center at the National University of Singapore and is a specially appointed professor of Tokyo Institute of Technology since Nov. 2016 in the new Institute of Innovative Research.
Prof. D. Sornette uses rigorous data-driven mathematical statistical analysis combined with nonlinear multi-variable dynamical models including positive and negative feedbacks to study the predictability and control of crises and extreme events in complex systems, with applications to financial bubbles and crashes, earthquake physics and geophysics, the dynamics of success on social networks and the complex system approach to medicine (immune system, epilepsy and so on) towards the diagnostic of systemic instabilities.
Flexibility in Space Systems: On Orbit Servicing as an Example
By Professor Daniel Hastings
Legacy space systems such as GPS are exquisite performers but take too many years to develop and bring into operation. As a result, they are often behind current technology at launch and certainly by the end of a ten year lifetime. This has led to significant work in understanding how to develop more flexible and adaptable systems. This work on flexibility will be described followed by looking at on-orbit servicing as one way to enhance the flexibility of space systems.
As the CEO and Director of the Singapore-MIT Alliance for Research and Technology (SMART), Professor Hastings spearheads the SMART Centre’s mission. The mission is to undertake world-class research on specific problems of societal significance to Singapore and of interest to MIT.
Professor Hastings earned a PhD and an SM, from MIT in Aeronautics and Astronautics in 1980 and 1978 respectively, and received a BA in Mathematics from Oxford University in England in 1976. He joined the MIT faculty in 1985. With over 30 years of experience in academia, Professor Hastings was MIT’s Dean of Undergraduate Education from 2006 to 2013, head of the MIT Technology and Policy Program and director of the MIT Engineering Systems Division.
Professor Hastings was US Air Force Chief Scientist From 1997-1999. He currently serves on the Board of the Aerospace Corporation, the Board of the Draper Corporation and has served on several NRC committees including the Aeronautics and Space Engineering Board, the Air Force Studies Board and the Government University Industry Interactions Roundtable.
Professor Hastings is a Fellow of the American Institute of Aeronautics and Astronautics (AIAA), the International Astronautical Federation (IAF) and the International Council on Systems Engineering (INCOSE). He served on the NASA Advisory Council, the Air Force Scientific Advisory Board, the Defense Science Board, the National Science Board and several ad-hoc committees on Space Technology as well as on Science and Technology management and processes. He has published over 120 papers, written a book on spacecraft environment interactions and won 5 best papers awards. His recent research is focused on Complex Aerospace System Design. His previous work was on spacecraft environment interactions and space propulsion. In February 2017, Prof Hastings was elected as member to the National Academy of Engineering.