Created by Belarusians FriendlyData startup, developing technology to work with database via natural language interfaces entered the 20th selection of 500 Startups, one of the best business-accelerators in the world 500 Startups.
FriendlyData entered the 20th selection of business-accelerator 500 Startups along with 42 other projects, third of which comes from outside the USA. According to the 3month-programme conditions, each programme contestant gets the investment from the providers in amount of 150 thousand USD, 37.5 thousand USD of which will cover the programme participation fee. In exchange, 500 Startup gets a 6 percent share from every participating company.
The startup of a programmer from Minsk, Mikhail Rumyantsev, has managed to make the way from an idea to the direct sales phase within six months.
The technology of the immediate data access via natural language interface consists of two levels. During the first stage the natural language is being transformed into the structured objects. During the second stage proprietary algorithm FriendlyData transmits created structured objects into the SQL-requests. The essential startup difference from the direct competitors is that all the intermediate transformations originate in the cloud.
FriendlyData clients don’t have to use their own computational powers or deal with the compound technology integration – it's enough to plug it in with an idle API. As a matter of fact, FriendlyData can manage any relational database. Besides, the app doesn’t have any interface limitations. One of the first FriendlyData implementation is a clever chat-bot which makes it possible to access the data via a regular messenger interface. One more is a voice interface.
As Mikhail Rumyantsev said in the recent dev.by interview, one of the most fargoing technology implementation variants is integration to the search systems. In the team's short-range plans there is creation of the search plugin, which will manage API apps.
“In no time any business will be data-orientated, and language recognition will become an essential part of each complex software,” claims Mikhail. “Natural language interfaces is a real market trend. A lot of vast companies implement them to increase data-working employees efficiency. Besides, such interfaces are intuitively easy to understand, which means staff-training money could be saved or users conversion could be raised”.
The most of the startup clients are vast companies (200 and above), outstanding world-renowned titans also take interest. Business-analytics software creators are more often guests of the Belarusian team. Among other startup clients are CRM- and EPR-system suppliers, fintech companies. However, technology is a matter of interest of very different fields of business. Among the recent cases there is implementation of FriendlyData to the huge logistic chains managing product and integration with a medical catalogue, which allows its users to exchange medical data with doctors.
Today the team gives its clients custom integrations. Hereafter the Belarusians are planning to release Saas-decision, which will work “from the box” and connect to any API-orientated software via one code entry.
All the participants of the startup created in New York are Belarusians: Mikhail Rumyantsev, Alexey Zenovich, Alexander Zaitsev and Alexey Vertel. In August FriendlyData hit the ten-top projects, selected for a 3month-programme New York accelerator with Russian roots Starta.
500 Startups, created in 2010, is a venture capital fund and startup accelerator, which programme is recognized to be one of the best in the world. Since its foundation, the fund with 200 million dollars actives has invested in more than 1400 projects.
Source: ej.by