Text improvement platform wins Startup of the Year Award
Maribor, 23 May - Instatext, the company behind the eponymous web platform for text improvement based on artificial intelligence, is the winner of this year's Startup of the Year Award conferred by the Slovenian Startup Ecosystem project on Friday.
Instatext is a web platform which uses artificial intelligence to create instant recommendations and ideas about how to improve a text content-wise and make it more readable and understandable.
The platform is able to restructure an entire sentence and put it in the context. "In three months since the team put the solution on the market alone, employees in academic circles have been sold more than EUR 30,000 in licences," the organisers said.
The platform has more than 3,000 users, and the Instatext comprises top experts in artificial intelligence, language technologies, natural language processing and software development, they added.
The award jury took into account for criteria - successful confirmation on the market; attracting investments from Slovenian and foreign investors; competences, commitment, experience and organisation of the team; and potential for fast growth on foreign markets.
The award is conferred by the Slovenian Startup Ecosystem project and the main organiser is Start:up Slovenija. It is co-funded by the Slovenian Enterprise Fund, the Economy Ministry and the European Regional Development Fund.