PAPIs ’17, the 4th International Conference on Predictive Applications and APIs, is a series of annual events where experts come discuss new developments, opportunities and challenges in real-world Machine Learning. This year, PAPIs ’17 returns to Boston, on October 24-25, 2017, and will host the 7th Edition of our AI Startup Battles.
The audience, mainly decision makers and developers interested in the latest technology to build real-world intelligent applications, will witness the power of PreSeries, a predictive application that provides fact-based insights as well as many other investments and traction related metrics to help investors foresee which companies warrant a potential investment. PreSeries predictive models are trained with a diverse set of public and private data on more than 370,000 companies worldwide.
If your startup uses AI as a core enabler, this battle is your chance to get under the spotlight. The startups selected to compete will be able to pitch on stage, make connections, exhibit at PAPIs ’17, and get unique exposure among a highly distinguished audience. The winner of the battle will have the chance to participate in Telefónica Open Future _ Program. In this respect, PAPIs ’17 winner may have access, up to six months, to Telefónica Open Future’s pre-acceleration services, subject to space availability (desk space and connectivity). After the six-months of pre-acceleration, PAPIs ’17 winner will be evaluated and, in case of a positive evaluation by Telefonica Open Future, PAPIs ’17 winner may have access to Wayra’s Acceleration Program. Wayra Acceleration Program offers financing for up to 50.000$ in the form of a convertible note and acceleration services, for a maximum period of 12 months, valued in a maximum of 70.000$, subject to the fulfillment of certain milestones agreed with Wayra (in the form of physical co-working space for the team, connectivity services, access to its network and know-how, consultancy services, entrepreneurship training, access to the Wayra network of potential investors, other entrepreneurs and practitioners from the venture capital industry).
The AI Startup Battle @ PAPIs ’17 will take place on October 24, 2017 at 3pm (exact time tbc)
As The Notorious B.I.G. argues, more isn’t always better! It’s easy to understand how this nugget of wisdom can be helpful in everyday life, and by extension in the art and science of building companies. But is this true when we talk about co-founders? Countless pieces of advice from the Valley’s most prominent voices prefer to take the opposite stand and preach the natural benefits of having at least one other co-founder, the miracle drug. Benefits include, but not reduced to, complementary expertise/background, having a friend to share burnouts with, additional content for the “team” slide of your pitch deck, and making Paul Graham happy.
The success rate of solo-preneurs vs teams of co-founders deserves a better approach, a data-driven approach. Let’s have a look at the data in PreSeries and see for ourselves. We used the PreSeries Analyst Platform to filter the PreSeries’ dataset of 385K+ companies. We kept only the companies founded after January 1st 2000 (before this year the databases does not contain enough unsuccessful companies to compare with) and that achieved a successful exit (Aquisition, Acqui-hire or IPO) or were closed. We will first have a look at the data from a general perspective before diving into exits and closures based on the companies’ last rounds: Seed, Series A, B, or C.
Overall, it seems that in proportions, the more co-founders, the more likely they are to achieve a successful Exit. 27% chances with 5 or more co-founders against 13% for solo-founders. Startup closures still remain very high in general with most of them happening with solo-founders (9973 in our sample) or teams of 2 co-founders (7958 in our sample), they are the two most common scenarios.
Comparison by funding rounds
Not all companies are created equal and are meant to join the heavyweight division. Startups come in all shapes and sizes, and grouping them by the last funding round they achieved is a helpful way to avoid mixing the big and the small ones.
When looking at the success/failure ratios of early-stage startups that successfully closed a Seed round, we notice that the rate of failure is very high (the highest of all when compared to the other stages). But having more co-founders still increases the likelihood of a successful Exit, 6% for solo-founders against 15% for teams of 5 or more co-founders. It is worth noting that the seed stage is where most startups end up shutting down with over 14k closures registered against almost 5k after Series A, 2k after Series B, and 1k after Series C.
Advancing to further rounds seems to be a good sign of resilience, by weeding out startups unable or unwilling to raise more funds it gives more place for successful startups to shine under the spotlight. The first indicator is the overall number of startups declining. With a total of 26k companies in our analyses, around 16k exited or closed after a seed round, 6k after a Series A, 3k after a Series B, and 1k after Series C. At the same time the likelihood of achieving success increases considerably. For solo-founder, 6% after a Seed round, 16% after a Series A, 22% after a Series B, and 27% after a Series C. There is one notable difference for companies exiting after a Series C, teams of 3 co-founders have more success (52%) than teams of 4 (43%) and teams of 2 (38%). Furthermore, the trend seems to reverse for teams of 5 or more co-founders after a Series B: chances of success are 15% after a Seed round, 36% after a Series A, 46% after a Series B, and then drop to 26% after a Series C.
In a nutshell, choosing a co-founder is like a marriage, do it for the right reasons, not because everybody does it. There are success cases in all scenarios, the most frequent being 1 – 3 co-founders, but being able to achieve follow-up rounds makes all the difference and having more co-founder (stronger team) looks like the best option for resilience. One possible explanation here is that teams of 2 or more co-founders may be better at making decisions (e.g. a technical co-founder and a sales/business person at the minimum). Solo founders still remain the most represented group at every stage. Being surrounded by a great group of early employees instead of having co-founders is one way to take advantage of the diversity benefits while keeping the cap table and strategic decision making easier.
Making predictions about startups is good, but letting everyone integrate predictions about startups in their apps is even better. And that’s because the real value of predictions is realized when we go beyond “predictive analytics” and start becoming “prescriptive”. In other words, it’s all about making predictive insights actionable. This is the reason why we are releasing our Dashboard API, to let you do just that. Now, all of our predictive scores about startups, investors, and areas, can be embedded into any of your apps and integrated into any of your decision-making processes. For example, you can now combine constant tracking of the performance and traction of your portfolio companies as well as those of your competitors in your own internal app, which also includes top secret financials for your portfolio companies. Currently, our Dashboard API is only accessible to subscribers of the Analyst Plan and our partners (Interested in a partnership? Get in touch with us!).
All of PreSeries, one API
Preseries.io (our API domain) gives you access to the following predictions: company search and company data, as well as the following resources: acquisition, deactivation, company, investor, IPO, patent, person, product, and round. Preseries.io conforms to the design principles of Representational State Transfer (REST). Preseries.io is entirely HTTPS-based. You can create, read, update, and delete resources using the respective standard HTTP methods: POST, GET, PUT and DELETE. All communication with Preseries.io is JSON formatted.
The Company Search allows you to find companies in PreSeries based on preferences. The Company Data endpoint allows you to find information about all the company predictions made by PreSeries. The endpoint is available in two different modes: (1) one snapshot: data related to a specific snapshot. You need to choose between only_last_snapshot or snapshot_date as a query property. (2) time series: all company data points listed in chronological order. This is the default option if neither snapshot_date nor only_last_snapshot is informed. You can specify a time period using the interval property.
Preseries.io also allows you to list, create, retrieve, update, delete your data about company activations, deactivations, general information, investors, IPOs, patents, people, products, rounds of investments.
A complete list of all the predictions and resources available through the Dashboard API can be found here: preseries.com/developers. We’d like to know more about your application ideas so feel free to get in touch with us to request API access!
Summer is upon us, but we won’t let the July heat slow us down! We just released our new collaboration feature, aka portfolio sharing, and our fresh off-the-shelves Dashboard API is now available to anyone interested in integrating PreSeries predictions about startups, investors and industry areas in their solutions.
In the Wisdom of Crowds, James Surowiecki argues that the aggregation of information in groups often results in better decisions than relying on a single person’s opinion. Early-stage investing doesn’t escape this rule, the amount of uncertainty is better mitigated when various analysts and investors come together and weigh on investing decisions. For this reason, we released the first of many collaboration features, portfolio sharing. Our portfolio sharing feature is the perfect way to share your lists of startups with your team members. Whether you are replicating real investors’ portfolios or trying to simulate virtual ones, you can now give access to your findings directly to your team on the PreSeries platform.
Once you spot a startup you want to include in one of your virtual portfolios, simply click on the folder icon below the company name and select the desired portfolio, or create a new one. The portfolio view from the left menu will automatically update itself (if you cannot see the list of startups, simply click on the expand icon). If you want to remove one company from a portfolio, hover your mouse over one of them in the list and click on the “-” icon.
For a more in-depth look at a portfolio, click on its name directly from the left menu. The portfolio view offers quick insights on the current company status, the country, the city, the current stage, the industry areas, the overall score, as well as the overall score’s evolution over time. Next to the portfolio name on the left menu is an option activate/deactivate the sharing of your portfolio to your team in one click (“green icon = shared” in the screenshot above). The section below called “shared” lists all the portfolios shared with you by other team members.
In the comparison tab, we show the evolution of a given virtual portfolio over time. Colored dots represent companies’ overall scores from 0 to 100 (red = 0 to 20, yellow = 20 to 50, blue 50 to 70, and green 70 to 100). The graph is useful to assess how diversified a portfolio really is by looking at how many of its portfolio startups are projected to achieve a successful exit (IPO or Acquisition).
The other big announcement is our Dashboard API. It gives you access to all the available insights from the Dashboard, including predictions, present and past.
It is currently only available to owners of the Analyst plan and our partners. Get in touch with us to know more! Analyst subscribers and partners will find the related documentation under the “Documentation” tab (top menu).
We hope these features will turn you into more productive AI-driven workaholics (our niche). Don’t hesitate to drop us an email anytime at firstname.lastname@example.org, we’d love to hear your feedback and ideas 😉
The 6th Artificial Intelligence Startup Battle came to an end yesterday in São Paulo in fully automated fashion. The jury of this unique battle, PreSeries’ algorithms, has predicted with a score of 96.50 out of 100 that Dataholics is the startup most likely to succeed from among other contenders. Dataholics captures and structures millions of data points about people on social networks such as Facebook, Linkedin, Google, Twitter, Google search results, blogs, web portals and online services. Their algorithm creates a unified profile for each person based on behavioral, professional and demographic indicators from their email, cell phone, name or ID.
In the battle, all five startups have had the chance to introduce their company during a 5-minute pitch. Later on, PreSeries’ AI took the time to ask some questions to all the contenders about key aspects of their business. The exchange was made possible through a voice-assistant device present on stage (thus the name ‘VC-in-a-box’).
Itera, came in 2nd with a score of 86.81. Itera is a technology company founded in 2008 and established in São Carlos/SP, always aiming to build innovative solutions for its clients. They are now investing in a machine learning platform for text mining named ALICE. The platform is currently focusing on finance, and marketing case studies.
Mr. Descartes got the 3rd position with a score of 62.13. This company provides a chatbot to help cities improve their waste management and sustainability. They work in collaboration with local governments, businesses, and people from the community in order to generate data, educate the public and build lasting partnerships.
Voice Commerce was the 4th startup in the ranking with a score of 62.12. Voice Commerce is a voicebot that provides anyone with a simple, objective and secure online purchase experience through voice commands. It creates the perfect solution for people with visual impairment when buying goods and services online.
Finally, Data H achieved the 5th position with a score of 62.10. DATA H is a startup focused on creating intelligent products and artificial intelligence outsourcing of research and development. DATA H has created its own ecosystem to enable artificial intelligence projects for a diverse set of sectors.
After the event, BigML CEO & Co-founder and President of PreSeries,Francisco J. Martin, shared his thoughts: “Having organized our 6th AI Startup Battle in only the last year and a half across the globe, it is amazing to us that humans are surprisingly open and adaptable in trusting PreSeries algorithms to assess the future prospects of startups. What started as a crazy idea has come to be seen as an obvious need. This can be attributed to the investment professionals being overwhelmed with mountains of new data created every day, which in turn highlights the acute need for objective assistance and automation.”
This edition of the battle took place on June 21 in São Paulo, Brazil, at the PAPIs Connect conference, Latin America’s 1st conference on real-world Machine Learning applications.
PreSeries, the joint venture between Telefónica Open Future_ and BigML, will be hosting a brand new AI Startup Battle at PAPIs Connect on June 21 in São Paulo. PAPIs Connect is Latin America’s 1st conference on real-world Machine Learning applications and will feature talks from BigML, Nubank, Uber, IBM and many more.
But what makes the AI Startup Battle so special? Well, it is the absence of human involvement in selecting the eventual winner. Indeed, a human jury is no longer needed thanks to PreSeries’ AI. Our voice-controlled AI communicates with the contenders live on-stage and generates scores to rank the startups and choose the winner. In our AI Startup Battles, our Artificial Intelligence is made available through a little device on stage. Our little “VC-in-a-box”, asks the contenders a set of questions and chooses its follow-up questions based on answers given to previous ones. It will naturally focus on questions that have the most predictive power in its own bias-free opinion. In the end, the startup with the highest score is announced as the winner.
Meet the contenders!
At this point, you may be wondering who will be competing in the battle, so let’s get to know the contenders.
Dataholics captures and structures millions of data points about people on social networks such as Facebook, Linkedin, Google, Twitter, Google search results, blogs, web portals and online services. Their algorithm creates a unified profile for each person based on behavioral, professional and demographic indicators from their email, cell phone, name or ID.
Voice Commerce is a voicebot that provides anyone with a simple, objective and secure online purchase experience through voice commands. It creates the perfect solution for people with visual impairment when buying goods and services online.
DATA H is a company focused on creating intelligent products and artificial intelligence outsourcing of research and development. DATA H has created its own ecosystem to enable artificial intelligence projects for a diverse set of sectors.
Mr. Descartes provides a chatbot to help cities improve their waste management and sustainability. They work in collaboration with local governments, businesses, and people from the community in order to generate data, educate the public and build lasting partnerships.
Itera is a technology company founded in 2008 and established in São Carlos/SP, always aiming to build innovative solutions for its clients. They are now investing in a machine learning platform for text mining named ALICE. The platform is currently focusing on finance, and marketing case studies.
Be sure to stay tuned as the winner will be announced right after the event on social media (on Twitter with #AIStartupBattle) as well as on our blog. For more details, please follow us on: LinkedIn, Google+, Facebook, or Twitter. The countdown starts now!
PreSeries, hosted the 5th edition of the AI Startup Battle at the exclusive Global Tourism Innovation Summit taking place in Palma de Mallorca, Spain on June 9. The event served as the meeting point of top international professionals discussing topics such as Tourism Innovation / AI / IoT / VR / Smart Destinations / Hotels / OTA / Tour Operator / Airlines / Connectivity / Big Data / New Technologies / Machine Learning / Airports / Ports / Infrastructure / Smart Mobility / Smart Management & Solutions / Dynamic And Immersive / Video Wall Experiences / Digital Signage / Mobile / Apps. The summit was organized by Agora Next Telefónica Open Future_, the first global tourism innovation program from Telefónica, a strategic partner oriented towards companies and entrepreneurs, who aspire to become a global reference of Tourism 4.0. A large crowd of tourism experts and decision makers came to witness the power of the PreSeries Machine Learning algorithms.
With a score of 96.51, Smartvel, a SaaS Supplier of Digital Destination Content, was crowned winner of the 5th edition of the AI Startup Battle. They have built a unique tool combining three types of content:
dynamic content like up-to-date travel agenda
traditional destination content gathered through geolocalization, e.g., restaurants, points of interest, sights and attractions
geocoded layers of content recommended by their clients to promote and cross-sell passes, places or events.
The second place finisher was Apartool with a score of 86.82. Apartool is the bridge between apartment blocks, aparthotels, and tour operators. This intermediation project aims to give travel agencies the smartest way to offer a global service to all their clients. Apartools offers, through a platform, the first booking solution specialized in the booking of entire buildings for touristic purposes.
Finally, the third position, with 67.82 points, was for MallorcaWifi.com, which has been working for more than a decade in the implementation of a Wi-Fi network in Palma that allows citizens to connect at any time and at no cost. The project, which has been carried out jointly with the City of Palma, has allowed the simultaneous connection of up to ten million mobile devices in the last year.
We’ve been proud to host another impressive group of startups during this latest edition of our AI battle. If you are interested in competing in our next AI Startup Battle in São Paulo, Brazil (June 21), please apply here and stay tuned!