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EUROSTARS-EUROSTARS

ES692270 - AISTART

Alternative title: ES692270 - AISTART

Awarded: NOK 6.0 mill.

Project Manager:

Project Number:

329113

Project Period:

2021 - 2023

Funding received from:

Location:

Partner countries:

We developed an AI tool for investors, startups, and accelerators that predicted the future potential success of early-stage startups, going beyond just financial data. We leveraged AI algorithms using an extensive startup network, data on 18,000+ startups, and prior research. These algorithms were transformed into an easy-to-use dashboard that provided immediate value to users. We validated the predictive power of AI and the dashboard using real market data, resulting in our end-product. The project was a collaboration among: - Katapult, a Norwegian startup accelerator and impact investor - Bakken&Bæck, a Norwegian design and development agency with expertise in AI - Seedstars, a global community for innovative ecosystems headquartered in Switzerland.

The selection process to both Seedstars and Katapult's accelerator program benefited from this project. We will be able to screen more startups, spend less time on selection and find the higher potential startups An indirect impact is also that we can help more startups get funding. Healthy entrepreneurial ecosystems are rooted in cross-sector collaboration between a variety of ecosystem actors. This project was critical to improve this offering further, increase the success rate of both our and our investor’s investments and help more startups globally. As the only startup ecosystem index (SSI) in the world focusing on Emerging Markets, we improved how we measured the quality, potential, and maturity of startup ecosystems.

We will develop an AI tool for investors, startups, and accelerators that predicts future potential success of early-stage startups (beyond just financial data). We will develop the AI algorithms leveraging an extensive startup network, data on 18,000+ startups, and prior research. The algorithms will be turned into an easy-to-use dashboard that provides immediate value to users. The AI’s predictive power and the dashboard will be validated using real market data, resulting in an end-product.

Funding scheme:

EUROSTARS-EUROSTARS