General
TurboInnovate: Track and Predict the Future of Innovation
Dec 28, 2023
OmniSync, started in 2019, began with the goal of empowering the creation of world-transforming and game-changing innovations by unlocking critical resources. Through our flagship product TurboSBIR, we have had the privilege of working with over 1000 startups to help them find and apply for non-dilutive capital opportunities including SBIRs. Through these close relationships, we identified that many startups encounter a lack of clean, comprehensive innovation data for informed commercialization strategies. With this in mind, we set forth to create a new resource for the innovation ecosystem. Our new product TurboInnovate is the most comprehensive, innovation-specific market research tool available at an affordable cost. This technology helps innovators and innovation seekers identify and act upon opportunities to successfully commercialize technologies. Our tool is trusted by federal agencies and built with the most comprehensive innovation data brought together in one place and matched/personalized to your innovation using top of the line, best-in-class context-based AI/NLP algorithms, trained to understand complex scientific and technical terms.
The Development of TurboInnovate
And several commercial innovation-driven entities
Today, TurboInnovate combines a massive corpus of innovation data with best-in-class semantic querying, automated AI-assisted project report generation, as well as functionality to request further information from innovators. All features were developed in-house by our talented engineering team and packaged into a modern and intuitive user-interface, and additionally, made available through an API.
Who is TurboInnovate For?
The Innovation Seeker and Support Organization
Given TurboInnovate’s sector-agnostic ability to analyze millions of innovation data points in a rapid, scalable, and affordable manner, the tool is an ideal resource for innovation seekers and supporters alike. Market research itself is invaluable for developing commercialization strategies. Without an informed outlook on one’s market landscape and competition, you are left to navigate the innovation journey through a series of guesswork.
Guessing your way through the commercialization process can be counterproductive and often leads to unnecessary challenges. There are several pitfalls to avoid, such as creating a product or service that lacks genuine market demand. It's crucial to stay aware of industry advancements and competitor progress to ensure you're not falling behind. Additionally, failure to differentiate your offering may result in building something that already exists, missing out on valuable opportunities, or mis-valuing your innovation. Choosing the wrong collaborators or investors can hinder your startup's growth, and overlooking funding opportunities may limit your potential.
From the beginning stages of ideation through growth and successful commercialization, it is important for founders to have a continuous pulse on their market landscape. With market research, you can perform customer discovery, understand your competitors and unique differentiation, stay informed on the most up-to-date trends in your space, and more. However, the current offerings on the market leave something to be desired. With existing tools, it is incredibly difficult to find tailored and comprehensive data insights, especially when focusing on cutting-edge innovations. This is one of the reasons we built TurboInnovate.
TurboInnovate delivers data matching results and analysis across millions of innovation data points including private and govt.-funded companies, investors, strategic partners, patents, subject matter experts, licensable technologies, funding opportunities, and more, personalized to the relevant innovation specifically. TurboInnovate compiles this information in minutes and allows the user to track new hits in the area of interest.
The Government User or Investor
The problem identified by OmniSync is that the current way of conducting comprehensive market research is ultimately ineffective. Conducting market research is simple when researching a popular and extensive area or when only looking at later-stage companies with mature innovations. An example would be finding the best camera system, or the most current/new product based off current needs. The issue market researchers encountered is that when looking into innovations there is very little and/or often hard to find information to compare to what is already being done, and who is doing what out there. TurboInnovate compiles numerous databases of current innovations, organizes it based off the solution being innovated, and presents it to the user in a full market research report in a matter of minutes. It can also assist a government user with an easy Request for Information (RFI) button that generates a template that can be sent out to a company for follow-up or other needs. TurboInnovate helps the government researcher answer the question “is there anything else out there or what other company is out there”. “Did I buy correctly?”
Investors typically look for market comparisons to startups that they are conducting due diligence on. This is extremely challenging to do on current platforms because most systems connect comps based on keywords that typically lead to generic broad results. TurboInnovate uses contextual AI/NLP-based methods to read through an actual description of your target startup and matches with other companies that are contextually similar. This method will most often lead to non-obvious hits that will otherwise require several weeks of an expert’s time to figure out, when going through traditional tech scouting methods. The second area where TurboInnovate is helpful to investors is to understand how mature an innovation really is – in other words, where there is a startup on the S-curve of a particular innovation. Such analysis helps investors carefully project out exit timelines and avoid market surprises.
How to Use TurboInnovate
After registering on the platform as either a government or commercial user, you will be prompted to simply input a short description of your area of interest, product, or technology. Our custom AI algorithm will use this description to search our database and all other additional information to give you an in-depth view into your market landscape, providing you with matches across commercialization trends, competitors, top investors, and more. The AI is designed to understand and translate scientific speech to government speech to startup speech and so on. The data generated will include contact information where possible, weblinks, and additional details on each individual/item, with the ability to save, export, and track new hits to stay informed on your area of interest. Of course, you can also generate a personalized market research report in a matter of minutes, which will summarize and analyze the data previously mentioned to give you a succinct view into your market landscape. In its current form, there is no limitation on the number of searches you can conduct, or on the number of market research reports you can generate. This is another reason why this tool is so valuable for entrepreneurial support organizations and larger companies that work with a variety of technologies at a single time.
TurboInnovate does not limit the user to just one project/area of interest, soon it will incorporate collaboration on projects within your team. Depending on the software plan, the user can track multiple areas of interest and generate an unlimited number of reports as new information becomes available. The original project can also be updated/changed to search for a new area of interest and notify the user of new information in this updated area. With this, however, the software will no longer be tracking the initial research area unless you tier up to track multiple technologies at one time.
What Does TurboInnovate Do?
Understanding An Innovation’s Competitive Landscape
TurboInnovate is designed to help research and explore what technologies are currently in the market. TurboInnovate will match your innovation with the most relevant, non-obvious private funded startups, public-funded, SBIR awarded startups, and other companies in the space. TurboInnovate is also designed to show technology trends such as patents, university and government technology, and researchers in the field. This allows the researcher to analyze competitors' strengths and weaknesses and identify the best strategies for moving forward for their own company.
Evaluating an Innovation’s Commercial Potential
TurboInnovate provides curated data matching across multiple sources and analysis-focused market research reports to demonstrate financial, technological, and innovation trends. This function can be used to display potential market opportunity of an idea before the user decides to proceed with committing time, energy, and money into a specific strategy.
Generating Potential Target Leads for Customer Discovery
TurboInnovate identifies the most relevant individuals and companies in their space of research. The results also provide contact information where possible that can be shared and exported to assist in the generation of a contact list of relevant people in the space. These individuals range from anywhere between potential clients, competitors, and investors.
Generating Market Trend Research Reports for Any Area of Science/Tech
Guided by the full project description (either manually written or generated by our custom AI) the TurboInnovate AI software generates a personalized market research report instantaneously, in less than a couple of minutes. The report includes: Summary of Project, Background, Top Innovators, Impact and Environment, Financial Considerations, and Technology Trends. This is one of the most unique uses and design factors of the product as it drastically cuts down the time and money invested in market research significantly by offering the software at a low cost, generating reports in minutes, and compiling them into one easy to use tool.
Performing Due Diligence on Innovations
With the use of TurboInnovate’s “Discover Technologies” tool, the user can enter a problem statement and discover trends of most popular current solutions. This allows the user to see what solutions are already being explored in the space, determine what the competition is, and how much funding is being invested in the space. This provides the user, innovator or investor, an in-depth understanding of what the current innovation landscape looks like around the identified problem.
Finding Best Fit Investors, Corporates, and Strategic Partners for an Innovation Based on Investment Trends
For the innovator, the AI will match the innovation to the best fit investor for their research based off current investment trends. Additionally, the user can see what federal grants/contracts are open and looking for similar solutions. This use case was designed to aid startups in locating the necessary resources for survival in their current industry landscape. Locating investors or grant/contract support can take hours of research while TurboInnovate has cut that down to minutes.
What Makes TurboInnovate Special?
TurboInnovate is continuing to grow as a technology but continues to have a positive impact on both the commercial and government sides of market research. As technology is utilized more and more, it will continue to sharpen and improve upon the preexisting research tools. TurboInnovate is unique because the market intelligence resources that currently exist are not always directly beneficial to innovation and are expensive while TurboInnovate is:
Affordable (Roughly 10x cheaper than paying for consulting or other tools)
Rapid & Efficient
Comprehensive
Industry-agnostic
Innovation-specific
Personalized
Assists with problem statements and refinement
State-of-the-art, proprietary, federally supported artificial intelligence
Our goal is to develop a comprehensive widely used market research database to better connect those in the innovation field. There are currently several tools on the market that focus on specific areas of innovation. What differentiates TurboInnovate from competing products in the market is that TurboInnovate focuses on innovation data exclusively, is comprehensive across all aspects of innovation in the science and technology industries, doesn’t limit the user on data exports, and utilizes the best-in-class AI matchmaking models to reveal non-intuitive marches that enable the most unique insights for your queries. If you would like to explore TurboInnovate yourself begin here. To connect with one of our team members and discuss further begin here.