Techstars Montréal AI announced a new series of startups selected to be part of the acceleration program. MorphL is the only Romanian startup in the cohort, becoming part of the Techstars network, the third most important of its kind in the world.
Less than 2 years after its start, MorphL was selected to be part of the Techstars acceleration program specializing in artificial intelligence in Montreal, Canada. For 13 weeks, the co-founders Ciprian Borodescu (CEO) and Alexandra Anghel (CTO) will work with specialized mentors on AI around the world, constantly working to improve the platform. The program starts on September 9, 2019 and culminates with a Demo Day in early December. Startups that go through the Techstars acceleration period frequently receive financing offers from investors interested in applications in the area of artificial intelligence. MorphL thus becomes part of Montreal’s second accelerator incubation series, with founders selected from the US, UK, Israel, Chile and Canada selected in the first series.
“Artificial intelligence is not an industry: it is a technology that will deeply influence and change all industries. Therefore, we are looking for companies that do not necessarily have a specific interest in this sector, but have ideas that can truly change one industry or another, ” says Bruno Morency, Managing Director Techstars Montréal AI.
Criteria used by the Techstars team in evaluating applications received for this series included aspects such as: the ability of the product to solve a real and specific problem, the ability of the product to make predictions or make decisions 10 times more efficient than the existing solutions; access to a large volume of data to develop the model of AI to make reliable forecasts; the experience of the CTO and its ability to develop the AI model directly, until the team enlargement; the extent to which the product significantly facilitates the operation or implementation of artificial intelligence applications.
For almost 2 years, the MorphL team has been developing an AI-as-a-platform product whose goal is to support companies to grow by optimizing their marketing efforts based on customer behavior predictions. Through the MorphL platform, companies can predict key aspects of consumer behavior, such as: Next Shopping Stage Prediction: At what stage of the purchase process is the user intent Prediction going to go: the purchase intention behind the keywords used in search Churn Prediction: the likelihood of giving up the paid subscription or using a website / product Customer Lifetime Value Prediction: the expected value of the customer during his relationship with the company and others. Based on these predictions, marketing, sales and business development teams can create campaigns and loyalty mechanisms that meet customer needs, providing more value to them and improving conversion rate, among other performance indicators.