Jun 03

EY Startup Challenge

Following a rigorous selection process, EY has today announced the ten successful tech startups that beat over 100 other hopefuls from across Europe to undertake the second EY Startup Challenge.

The EY Startup Challenge is an intensive eight-week accelerator programme, starting on 8 June 2015, offering mentoring from industry-leaders, training workshops and investor networking opportunities. This Challenge is focused on technologies developed to help businesses improve their interactions with their customers and to heighten visibility along their supply chain to avoid shocks and minimise risk.

The ten successful tech startups (in no particular order) are:

  1. Historic Futures – Improves the visibility of global supply chains by automating the process of requesting product information directly from suppliers.
  2. Elements Software – Tracks assets throughout their journey across the supply chain using a “Digital Passport” to help importers and exporters comply with regulations and meet the sustainability demands of their customers.
  3. Cytora – Transforms unstructured data from the web into usable intelligence and analyses risk across multiple sectors.
  4. ScanTrust – Protects brands from counterfeiting using a secure and unique identifier, which is tracked on a cloud-enabled platform.
  5. Streetspotr – Uses mobile crowdsourcing to help brands and suppliers understand their customers by collecting information, photos and insights from Europe’s largest mobile workforce in-store, at home and on the street.
  6. Wittos – Provides real-time customer experience using analytics and behavioural intelligence via WiFi data on customers’ mobile devices.
  7. Retechnica – Intelligently tags content using machine learning to help companies to extract real business value from textual content.
  8. Real Life Analytics – Uses advanced computer vision software to show targeted adverts on digital displays, based on the demographic details of the viewer.
  9. Interpretive – Automates complex tasks like gap analysis or churn prediction using machine learning at a fraction of the cost of an in-house data scientist.
  10. Rulex – Simplifies the challenge of feeding new data into enterprise systems, and automatically extracts key trends using machine learning to get data-driven answers to business questions.

Through the programme, EY will provide the successful startups with:

  • Mentorship and coaching from EY’s industry-leading professionals, EY’s clients, successful entrepreneurs and key industry professionals
  • Access to EY’s networks which include potential clients and investors for the new technologies
  • Training and support workshops to help with market validation, customer acquisition and business development
  • Guidance around access to funding by helping them become ‘investor-ready’
  • Shared workspace at Central Working City, based near Liverpool St in central London, for the duration of the programme

Richard Taylor, Advisory Lead for Consumer Products at EY, comments: “With growth in online sales for consumer products forecast to rise 10% faster than store-based sales over the next five years, innovation to improve the online customer experience is essential. Coupled with the finding that 81% of businesses don’t feel sufficiently equipped for the speed of the shift to online, there is a real opportunity for innovation. Our ten new startups are rising to the challenge and are all pioneering new technologies that could have huge potential. The eight weeks ahead could hold the key to the next big thing in digital customer experience and supply chain innovation.”

Errol Gardner, EMEIA Financial Services Partner for Data Analytics at EY, adds: “The UK is becoming increasingly well established as a base for cutting-edge tech, and particularly fintech, startups. Continued investment opportunities and appetite from businesses to innovate means there is significant growth potential, which increases the UK’s competitive and entrepreneurial strength on the global stage.

“It is essential that businesses embrace new technologies which better align their services to how their customers want to interact.”