Amplify Analytix has been one of the 36 SMEs and startups selected to take part in the final round of the European Data Incubator (EDI), a 3-year project that offers around 100 startups the chance to solve data challenges set by major European corporates like Volkswagen Navarra, RACC motoring club and the multinational Sonae.
What is EDI?
European Data Incubator (EDI) is an incubation programme run by 20 partners across Europe.
It gives the most innovative Big Data startups the opportunity to tackle real-world challenges set by corporates across Europe, such as improving road safety in Barcelona or predicting fraudulent transactions in supermarkets.
Amplify Analytix is taking part in EDI’s third and final round, after being chosen as one of the top 36 startups and SMEs from a pool of 208. We are going to solve the challenge set by JOT Internet Media: Pattern Recognition Campaign Performance Indicators. Our approach is to use or design algorithms to solve the problem of enabling media planners to choose search keyword(s) that have an optimal impact on Click-through-rates (CTRs) and Clicks.
Specifically, we intend to solve it using techniques from Reinforcement Learning which recognize that patterns explaining the said outcomes are context-dependent and non-stationary. However, if the objective is not to have an online algorithm, we intend to learn the patterns explaining the dual objectives using traditional supervised learning approaches. In training our models, we will leverage tools from the Google Cloud Platform (GCP).
Benefits include up to €100k in equity-free funding, mentoring, workshops, access to a free cloud environment, and the chance to connect with and be recognized by major European organizations.
What are the next steps?
The European Data Incubator (EDI) has a €5 Million fund to foster the data economy in Europe and has selected the 36 most promising big data startups and SMEs to take part in their next round of incubation. The programme gives the participants the chance to grow their business as they solve a real-life challenge set by a major European corporate, with the help of up to €100K equity-free funding and a dedicated coach.
The programme takes startups through 3 intense phases of growth over eight months, with a combination of online sessions and physical meetings in Bilbao and Berlin. Each year of EDI incubation process is divided into three progressive phases, in which only the best startups pass to the next level: ‘Explore’, ‘Experiment’, ‘Evolve’.
In the next months, Amplify Analytix will take part in the first phase, ‘Explore’. Here we will take part in a datathon, practice our pitches, receive €5k (equity-free) and meet the corporations with which we will be working. Finally, a jury will decide which 16 startups will pass to the next level, ‘Experiment’.
Follow our journey through EDI!
Read about what’s coming up and stay tuned on our news on European Data Incubator’s website: www.edincubator.eu