Product Overview of Novable
Novable is an AI-powered innovation scouting technology designed to help companies identify, validate, and engage with the most relevant startups and innovative companies globally. Here’s a detailed look at what Novable does and its key features:
What Novable Does
Novable bridges the gap between corporations and innovative startups by leveraging advanced AI technologies, particularly DeepMatching™, to match companies with startups that align perfectly with their innovation, growth, transformation, or corporate development strategies. This platform is tailored for innovation professionals, including Heads of Innovation, Innovation Managers, and Strategic Investors, to streamline the process of finding and collaborating with startups.
Key Features and Functionality
AI-Powered Startup Scouting
Novable’s core feature is its AI-powered scouting engine, which uses DeepMatching™ technology to go beyond simple keyword searches. This technology encompasses the full activity data spectrum of each startup, including website content, social feeds, news, patents, and financial data, to provide highly relevant matches.
Comprehensive Database
The platform accesses a vast database of over 1.3 million startups across more than 4,000 topics and multiple geographies, ensuring that users can find innovative companies in any domain or industry.
User-Centric Methodology
Users can submit searches in natural language and follow a guided process to receive immediate and personalized results. This approach saves hundreds of hours by filtering out irrelevant information and delivering only the most pertinent matches.
Real-Time Search and Iterations
Novable offers a Real-Time Search feature that provides immediate results. Users can request iterations if they are not satisfied with the initial results, ensuring continuous refinement and improvement.
Human Expertise and Validation
In addition to AI-driven scouting, Novable provides human expertise through dedicated Novable Agents. These agents onboard teams, guide them through the platform, validate startup matches, and offer support to ensure that users focus on the most promising deals rather than the initial fit.
Engagement Support
The platform includes features for deep-dive analysis, valuation, cultural fit assessment, and lookalike searches, which are available as part of the subscription or as optional engagement steps. This support helps companies in their first interactions with startups, facilitating smoother and more effective partnerships.
Customizable and Efficient Workflow
Novable allows users to create, modify, and delete personalized lists of companies, receive notifications about new startups matching their campaign briefings, and run multiple campaigns in parallel. This flexibility and speed significantly reduce the time required to identify and connect with potential partners.
Client-Focused Resources
The platform is complemented by various resources such as client stories, an e-book, and a blog, which help companies stay inspired and up-to-date with the latest innovation trends. Novable boasts a high satisfaction rate, with 97% of users expressing satisfaction according to Trustpilot.
Benefits
- Time Efficiency: Novable reduces the time spent on startup scouting by up to 80% and halves the deal closing time, making it a valuable tool for companies looking to innovate quickly and efficiently.
- Quality Matches: The platform ensures high-quality matches with a reported match rate of over 66%, often uncovering startups that were previously under the radar.
- Comprehensive Support: The combination of AI technology and human expertise provides a seamless and efficient experience, making it an enterprise-grade scouting solution.
In summary, Novable is a powerful tool designed to accelerate innovation by connecting companies with the most relevant startups, leveraging AI, extensive databases, and expert insights to deliver efficient and high-quality results.