AI Startup Scouting Tool
What is novable.com?
Novable.com is a platform specializing in startup and innovation scouting technology. It offers a service that combines AI-powered tools with human expertise to help companies discover and engage with innovative startups. Their approach includes a proprietary matching engine called DeepMatching™, facilitating the identification of top-fitting startups quickly and efficiently.
The platform provides various services:
- Professional innovation scouting: Utilizing AI technology with expert analysis to find relevant startups.
- Validation: Conducting in-depth analysis, benchmarking, and vetting of startups to ensure quality matches.
- Engagement support: Assisting with structured outreach, introductions, and demo days for potential partnerships.
Novable aims to facilitate innovation by creating frictionless flows of innovation, believing it can generate better opportunities for companies and society. They boast a high satisfaction rate and offer personalized sessions to discuss client needs for a successful corporate innovation journey.
Founded in 2019 and headquartered in Brussels, Belgium, Novable has positioned itself as a tool for corporations seeking to connect with the startup ecosystem and foster innovation within their industries.
How does AI of novable.com matching engine work?
Novable's AI matching engine, DeepMatching™, functions by analyzing natural language inputs to pair startups with corporates based on their specific needs and requirements. Here's an overview of its operation:
- Input Interpretation: The engine begins by interpreting the search briefing provided in natural language.
- Criteria Matching: It utilizes its algorithms to identify startups whose activities and profiles align with the specified criteria.
- Ranking: Startups are then ranked based on how well they match the client's needs.
- Machine Learning: The AI model undergoes training via tagging and feedback to enhance future results.
- Expert Validation: A dedicated team of experts collaborates with the AI to thoroughly validate and vet the startups.
- Engagement Preparation: The platform aids in preparing for engagement with startups, including structured outreach and introductions.
The objective of DeepMatching™ is to streamline the corporate innovation process by effectively connecting companies with pertinent startups, thereby fostering collaboration and growth.
How much does novable.com cost?
Novable.com provides a range of pricing packages tailored to diverse needs, summarized as follows:
Startup Explorer Pack: Geared towards innovation professionals or small teams initiating an open innovation journey. It offers up to 10 campaigns/year and up to 24 deliveries/year, basic onboarding, and up to 1 touch point/month with a Novable Agent.
Innovation Navigator Pack: Suited for larger innovation teams, featuring unlimited campaigns, up to 50 deliveries/year, advanced onboarding, and up to 2 touch points/month with a Novable Agent.
Transformation Partner Pack: Targeted at those deeply involved in open innovation daily, offering unlimited campaigns and deliveries, advanced onboarding, and unlimited touch points/month with a Novable Agent.
Novable's services start at €1,000.00 per month, with a free trial option available. For comprehensive details on each package's inclusions and to determine the best fit for your requirements, visit their pricing page.
What are the benefits of novable.com?
Novable.com offers several benefits for companies seeking to engage with startups and foster innovation:
AI-Powered Scouting: Leveraging DeepMatching™, Novable's AI technology provides direct access to top-fitting startups, saving clients significant time by filtering out irrelevant options and focusing on relevant matches.
Human-Based Validation: Combining AI with expert analysis ensures thorough validation and vetting of startups, guaranteeing high-quality matches.
First Engagement Support: Novable facilitates structured outreach, introductions, and demo days, streamlining the initial engagement process for startups and corporates alike.
Global Reach: With an extensive network spanning multiple countries and topics, Novable offers a diverse range of innovative companies and validated startups.
Client-Focused Methodology: Novable's methodology is customized to client needs, aiming to discover tomorrow's innovations tailored to each client's requirements.
High Satisfaction Rate: Novable boasts a 97% satisfaction rate, reflecting strong client approval and successful outcomes.
These benefits aim to assist companies in connecting with leading innovators worldwide and unlocking new avenues for innovation and corporate venturing.
What are the limitations of novable.com?
While Novable.com offers numerous benefits, there are some considerations regarding its limitations:
Target Audience: Novable primarily targets Fortune 500 companies, potentially making it less accessible or relevant for smaller businesses or startups.
Cost: The starting price of €1,000.00 per month may pose a barrier for smaller companies or those with limited budgets.
Complexity: Some users may find the platform complex and require time to learn how to use it effectively.
Dependence on AI: While AI can facilitate fast and efficient matches, it may not always capture the nuanced needs of every client, emphasizing the importance of human validation.
Scope of Innovation: Novable's focus on startup and innovation scouting may not encompass all aspects of corporate innovation needs.
Inbound Limitations: Relying solely on inbound scouting may overlook potential opportunities that necessitate more proactive search strategies.
Potential users should carefully assess these limitations against their specific needs and resources to determine whether Novable aligns with their objectives.
How Does Novable Facilitate Startup and Innovation Scouting?
Novable is a powerful platform that centralizes its efforts on aiding companies in startup and innovation scouting. By leveraging AI-driven technology and human expertise, it allows businesses to discover, validate, and engage with innovative startups. Novable's matching engine, DeepMatching™, identifies top-fitting startups promptly by analyzing natural language inputs and aligning them with client needs. The platform excels through its combination of AI capabilities and expert validation, ensuring high-quality matches for future partnerships and innovation strategies.
What Makes Novable's AI-Powered Startup Scouting Unique?
Novable's AI-powered startup scouting stands out due to its comprehensive approach that merges AI with human insights. This hybrid model ensures precise matches by taking advantage of DeepMatching™ technology, which sifts through over 4 million innovative companies. Additionally, Scott, the startup scouting AI expert, provides quick insights on relevant startups. To ensure the accuracy and relevance of matches, Novable experts validate company lists before they are delivered. This method not only saves time but also guarantees the quality and relevance of the results.
How Can Novable Help with Developing a Corporate Venturing Strategy?
Novable provides extensive support for developing corporate venturing strategies tailored to align with various organizational needs. It offers consultation services where experts help clients understand their starting points and how to integrate innovation within their corporate framework. Using The Corporate Venturing Framework™, Novable guides businesses in crafting a strategy that supports internal corporate innovation while fostering relationships with promising startups. This structured approach helps organizations navigate the complexities of innovation and partnership growth.
