Av Utukuri

WHAT GOT YOU STARTED?

by Burke Campbell 

Published in the Financial Post

 Dec 15, 2008

Avanindra Utukuri founded Nytric ( www.nytric.com ). Headquartered in Toronto , Nytric is an innovation consulting and venture technology firm. Avanindra Utukuri tells the Financial Post what motivated him to become an entrepreneur.

Opportunity: “At 19, while studying engineering science at the University of Toronto , I started my first company with a team of engineers doing virtual reality (VR) simulation.”

New business model: “While selling our first company, we did consulting work for a New York technology firm. Impressed, they wanted to import our entire team. We opted to stay in Toronto , working for them at cost in exchange for a royalty on the finished product.”

Working vision: “In 1999, I founded Nytric. Typically, we consult at cost plus limited royalties or equity in the client, most often 10% or less.”

Versatility: “Our most innovative projects include a double-sided TV screen, watchable from front or back, a portable VR module for training soldiers in safe, yet combat-real environments, and logistics for public transportation, whereby municipal authorities in both Canada and the USA ramp up to faster, more reliable service, while saving themselves millions of dollars annually.”

Insight: “Our team works to help make the best products, and then assures they are launched brilliantly in the marketplace. I love being a part of that.”

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