Novable has developed an AI-powered platform that is able to directly access the best innovations no matter where it is happening in the world.
The introduction of AI in the scouting industry improved by far the traditional way of scouting. Before the pandemic hit, corporate venturing was built around personal relationships like hackathons, conferences, meetings, and so on. However, Covid completely moved the workforce to the online world, reducing the reach of traditional scouts. This latest development is not good for an industry that depends on innovation for survival.
The business community is riddled with corpses of former corporate giants who were lax about innovation. Moreover, every year thousands of small businesses also go out of office because of their inability to anticipate future moves that threaten the core of their existence. If a company is not able to reach new levels of corporate innovation, it can lose its competitive advantage. Large and well-established corporations may be prone to slow change and old ways of doing things.
On the other hand, startups with innovative views and backed by investment are finding new ways of doing things with new technologies and business strategies. The present situation, therefore, calls for a dismantling of the old order and the establishment of a new system of scouting. Fortunately, Novable seems to have the perfect solution.
Novable is currently the fastest AI-powered startup scouting platform on earth. The company’s mission is to enable innovation through startup relations, by connecting the brightest minds from the startup ecosystem with strong industrial ambitions from the business world. It further helps corporations and companies to identify the most suitable enterprise-ready innovations matching their strategic agenda. One unique thing about Novable is that all these things are achieved with deep-tech.
The way towards corporate innovation involves many different aspects (product development, sustainability, IT solutions etc.), which means that corporations may need external help from many different startups. To look at them manually can take a lot of time and that’s where different startup scouting platforms will be useful. Novable has discovered that a great way to be successful in corporate innovation is to include startups in one’s program. Startup scouting generates tons of opportunities that help boost corporate innovation and speed up the entire innovation process like product development, new technologies etc.
Novable hinges its operations on its four strategic pillars:
– Personalization and continuous improvement: This helps with dedicated search models that are able to adapt themselves progressively to deliver the most relevant startups, combining personal help from Agents and AI.
– Context-based matching: This looks at companies as a whole, including their updates, active information, accurate product descriptions, and contextual data.
– Network science: It helps in understanding the link between companies and people to find hidden gems, lookalikes, opportunities and threats that are not usually available in structured databases.
– Lean-back service: It delegates 80% of research to the machine, leaving the professionals free to tackle the most productive parts of the work.
Therefore, when a company enters into a business relationship with Novable, its technology scouting system generates personalized AI models that are tailored to the campaign’s specifics. This collaboration between humans and computers helps the algorithms improve over time and ultimately leads to the emergence of a much more effective artificial intelligence.
To learn more about how Novable is going about implementing corporate innovation, please follow the company on LinkedIn.
Company Name: Novable
Contact Person: Olivier Beaujean
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