SRKay, unveiled the path-breaking MindMatch Algorithm, based on the research by its Talent Solutions venture SCIKEY, which can predict startup success, at the recently held UNCTAD (United Nations Conference on Trade and Development) meeting in Geneva.
The algorithm utilizes several human-only attributes for the prediction, which have been largely ignored by startups and funding agencies across the globe, leading to massive startup failures so far.
Thrashing some famous studies that point out several reasons why startups fail, Mr. Alok Kumar, the Managing Partner of SRKay said, “78 percent of startups are successful due to human only factors while the failures are primarily because of ignoring these factors.”
Mr. Kumar presented a research study in the area of entrepreneurship titled, ‘Startup Success is about MindMatch and how it can be leveraged by entrepreneurs & governments, to ensure start-up success, foster a culture of innovation and growth. SRKay currently invests globally & aims at achieving 80% success rate for its investments, using SCIKEY’s MindMatch which utilizes the power of AI with in-depth psychological analysis to predict entrepreneurial success at individual & team levels. The overwhelming insights based on years of research received stunning appreciation from leaders across nations.
“It is essential for developing countries to invest in technology and practices that help them identify and nurture right entrepreneurial talent & enable them by creating an ecosystem that incentivizes them to achieve Sustainable Development Goals. The platform also enables enterprises to leverage this technology to create successful teams and ensure successful employee engagement at the workplace,” said Mr. Kumar.
The meeting witnessed the presence of noted diplomat leaders and entrepreneurs from all over the world. The agenda of the two days meet centered around, promoting effective international and national policies to help developing countries harness science, technology, innovation, and entrepreneurship, as an effective means of implementation of the Sustainable Development Goals, through policy analysis, sharing experiences & policy-oriented capacity building.
SRKay is leading the global front on enabling entrepreneurship, through its innovative RPE (Reverse Progressive Equity) investment model, and its unique values &innovation based Trust Culture, which reinforces the startups to scale up and become profitable. SRKay inherits its strong values from its parent, the billion dollar SRK Group, known for its philanthropy & various social impact initiatives, under the guidance of the group Chairman, Mr. Govind Dholakia through the SRK Knowledge Foundation.