The investment, combined with NEC X’s advanced engineering support, will enable Reveleum to scale its proprietary tech solution. The platform is designed to significantly improve operational efficiency, generate revenue, reduce costs and enhance patient outcomes by streamlining workflows and information sharing across healthcare systems with Personal Health Records (PHR).

Reveleum’s platform has shown impressive savings. For a 70-bed rural hospital, Reveleum identified over $250,000 in uncaptured Transitional Care Management (TCM) in its first year of implementation. The solution has also helped hospitals identify and prevent costly 30-day readmissions, reducing revenue losses of $10,000 to $58,000 per case. Nationally, the Centers for Medicare & Medicaid Services (CMS) has reported only 18% of TCM visits were billed.

Hospitals experience an average of 17 readmissions per 100 Medicare discharges. This means larger health systems managing hundreds or thousands of cases could potentially recover millions in lost revenue with Reveleum.

“Reveleum exemplifies the transformative innovation that Elev X! Ignite was designed to support,” said Shintaro Matsumoto, President and CEO of NEC X. “By leveraging advanced technology, Reveleum is addressing one of the healthcare industry’s most critical pain points—ensuring that medical records are not just managed efficiently but also utilized effectively to improve outcomes. This is a groundbreaking leap for operational efficiency and patient care.”

Hospitals and clinics in the U.S. handle an overwhelming volume of medical records daily, much of it reliant on outdated and labor-intensive solutions like e-fax systems.  This manual and error-prone process often leads to missed billing opportunities, administrative delays, duplicated tests and other inefficiencies that cost the healthcare system billions annually.

Due to legacy processes, today’s healthcare leaders face significant challenges in managing administrative workflows. The volume of e-faxes alone can be overwhelming, and many organizations struggle to accurately capture TCM reimbursements. Too often, organizations don’t know what they’re capturing—or what they’re missing.

Reveleum’s platform leverages proprietary technology powered indexing and keyword processing to automatically organize and convert medical records into an easily searchable and scalable digital format. The platform has already demonstrated a significant impact, delivering:

• 80% reduction in staff processing time
• 60% revenue growth in Transitional Care Management (TCM)
• 10% increase in patient visits

“Healthcare providers are burdened by the current inefficiencies of managing medical records, and these challenges often come at the expense of patient care,” said Dr. Sheldon Weiss, CEO and Co-founder of Reveleum. “With NEC X’s investment and expertise, we’re empowering healthcare organizations to break free from outdated processes, enhance revenues, reduce administrative overhead and focus on what matters most—delivering exceptional care.”

The timing of Reveleum’s solution is critical. Regulatory reforms in the U.S. are mandating the standardization and interoperability of medical records, pushing healthcare providers to adopt digital-first solutions like Reveleum to stay compliant and competitive. The opportunity is vast, with the global Electronic Health Records (EHR) market expected to reach USD 43.62 billion by 2032.

To learn more about how Reveleum is setting a new standard for medical record automation, visit https://reveleum.com/.

The post NEC X invests in Reveleum to revolutionize Medical Record Management appeared first on My Startup World - Everything About the World of Startups!.

Since 2018, NEC X has helped fuel the launch and growth of over 130 innovative tech startups, transforming their visionary ideas into scalable successes. The latest ventures were picked from a pool of 300 applicants for their industry-defining potential in areas such as climate and agriculture, software and app development, wireless network and IoT connectivity, recruitment and staffing, and more. 

Elev X! Ignite reimagines the venture studio framework by offering a distinctive combination of collaboration, funding, engineering expertise, extensive R&D resources, and holistic support services. This tailored program accelerates entrepreneurs through the critical ideation and prototyping stages, equipping them to scale their innovative technologies in global markets.

NEC X has experienced rapid growth since launching its Elev X! programs, evidenced by a 23% increase in applications since Batch 11 in Q2 2024. Each new cohort not only marks a rise in applications, but also in the quality of ideas and disruptive technologies submitted.

“Our continued growth and quality of applicants underscores the unique opportunities we create, turning groundbreaking concepts into viable solutions through an unparalleled collaborative experience,” said Shintaro Matsumoto, President and CEO of NEC X. “Our selected startups exemplify forward-thinking innovation with the power to address critical challenges making a measurable difference in both their sectors and the world around them.”

The startups of Elev X! Ignite Batch 12 include: 

• AppShip – Automates enterprise resource planning (ERP) implementation and knowledge maintenance by layering AI over ERP and CRM systems like SAP or Salesforce.
• CEQAbase – Environmental impact reporting software delivers significant processing gains in project investigation, analysis and document preparation to meet regulatory requirements.
• CodeIntegrity – Automates software quality assurance, reduces technical debt and boosts productivity, allowing engineers to focus more on innovation.
• DASflect – Enhances wireless network performance using easy-to-install reconfigurable intelligent surfaces, enabling faster, more reliable connections at lower costs and complexity.
• LandWise Analytica – Promotes sustainable agriculture through data-driven AI algorithms, advanced land sustainability maps and tailored land use recommendations.
• Pairenthesis – First-of-its-kind AI-native data insights platform empowers businesses to achieve data excellence and accelerate decision-making—without writing any code – simplifying data import, cleaning and visualization to effortlessly unlock actionable insights.
• PolarisJobs – Revolutionizes sales team recruitment with AI-powered screening and interviewing, reducing hiring time by up to 70% and enabling HR teams to focus on top candidates.

Elev X! members benefit from NEC X’s vibrant ecosystem of unique resources and services tailored to transform and launch early-stage companies. This encompasses funding opportunities, tailored mentorship, access to leading technologies, exclusive workshops, skills training, strategic partnerships and more.

This powerful combination of support, tools and resources empowers startups to create a strong Minimum Viable Product (MVP), validate their Proof-of-Concept (POC), attract paying customers, secure seed funding and, ultimately, succeed in today’s competitive market.

Recent graduates include Verdi, Chekable, Multitude Insights, Qualitative Intelligence and many more.

Applications for the upcoming cohort, Batch 13, will open in November 2024. For more information about Elev X! Programs, click here.

The post NEC X selects seven new startups for the Elev X! Ignite latest cohort appeared first on My Startup World - Everything About the World of Startups!.

Can you provide an overview of the Elev X! programs and their main objectives?
Our programs, Elev X! Ignite and Elev X! Boost, transform visionary ideas into commercial successes via a blend of collaboration, funding, engineering expertise, extensive R&D resources and comprehensive support.

Elev X! Ignite provides early-stage founders with close support focusing on customer discovery and validation. Elev X! Boost empowers seed-stage startups for rapid growth and a successful series A round.

What sets the Elev X! programs apart from other startup incubators and accelerators?
Our corporate backing along with our startup-first approach makes us stand out. Entrepreneurs and startups don’t just rely on us for funding, but also gain hands-on collaboration, resources, expertise, and the chance to validate solutions with real customers and technologies of NEC to build meaningful solutions.

How does Elev X! tailor its support to meet the specific needs of startups in different industries?
During Elev X! Ignite, although it is a cohort-based program, early-stage startups will work closely with NEC X’s innovation team and engineers, NEC researchers, industry experts, coaches, mentors and advisors to refine their product.

During Elev X! Boost, more mature startups can integrate their innovations with NEC’s industry-leading technology to develop synergies, refine their product and scale faster leveraging NEC and its partners’ extensive network.

What criteria does Elev X! use to select startups for its programs?
Elev X! Ignite is ideal for founders in the ideation or prototyping phase, while Elev X! Boost is for seed-stage startups with a proven MVP that are ready to scale.

For all our programs, we are always seeking committed entrepreneurs whose innovations could potentially synergize with NEC’s technologies or businesses, with a clear vision and the potential for substantial market impact.

Can you describe the onboarding process for startups entering the Elev X! programs?
Startups can apply to Elev X! Ignite with just an idea and hypothesis, though a demo or prototype strengthens their application. After desktop judgement and pitch selection, the program begins with a virtual sprint to define customer-problem fit with 30 top teams.

Elev X! Boost is for seed-stage startups ready to scale. It typically begins with an assessment to determine how to best integrate and synergize within our technology ecosystem.

What types of support and resources do startups receive as part of the Elev X! programs?
NEC X is backed by NEC’s 125-year history in technology, over 45,000 patents, and $8 billion research network.

We provide up to $200K in equity funding, engineering expertise and R&D resources. Our support also includes access to our network, such as Alchemist Accelerator, ERA, THRIVE, and more, as well as hands-on coaching, leading tools for cloud and tech development, sales and marketing, financial management, and continued education.

How does Elev X! leverage NEC’s technological expertise and resources to benefit participating startups?
In Elev X! Ignite, we help early-stage innovators assess the potential market, develop a viable MVP, conduct POC, and pinpoint synergies with NEC technologies to accelerate growth and prepare for seed funding.

In Elev X! Boost, we offer investment and technological collaboration to prepare startups for scale and Series A fundraising. These startups can leverage our resources to make their product more scalable and profitable.

How important is mentorship in the Elev X! programs, and how do you match startups with mentors?
Our mentor network stands at the core of our support system, empowering founders with the insights, knowledge, skills, strategies and confidence needed to successfully navigate the complex and evolving startup landscape.

Based on a startup’s specific need or unique specialties we connect them with accelerators, academic experts, experienced NEC innovators and others that can provide workshops, hands-on support and strategic partnerships.

What opportunities do startups have to network with industry experts, potential investors, and other entrepreneurs through Elev X!?
Our portfolio startups can tap into our growing ecosystem, which features leading accelerators, investors, R&D labs, industry giants and academic powerhouses, each offering invaluable expertise, resources and opportunities to help startups scale to new heights.

Can you share some success stories of startups that have graduated from the Elev X! programs?
Since 2018, NEC X has supported and launched over 100 disruptive startups. Recent Elev X! graduates include:
Verdi– the first scalable platform for farm automation and personalized plant healthcare.
Multitude Insights– a transformative AI-powered solution enabling greater collaboration and faster case resolution for law enforcement
Qualitative Intelligence (QI)– “Voice of Customer AI” for real-time message testing and risk assessment

Please elaborate on the recent collaboration between NEC and Qualitative Intelligence, which graduated from Elev X!
QI’s new sentiment analysis capabilities can identify and analyze hundreds of multi-channel videos, images and texts in minutes, empowering brands to accurately predict audience responses while minimizing compliance and social risks.

Supporting this, NEC’s Semantic Model Technology is increasing the efficiency of QI’s large language model, training the platform in real-time to identify critical information and trends in user-generated content.

How has this collaboration helped Qualitative Intelligence and enabled it to grow?
This is our latest collaboration with QI, which graduated from Elev X! Ignite in Spring 2023.

QI’s newest features, supported by the technological synergies we foster at NEC X, provide a more efficient and accurate way for advertisers to develop more compelling messaging, without risking their perception. Currently brands struggle to avoid backlash. This valuable solution will drive long-term growth.

How do you see this collaboration inspire other startups in your program?
In our program, we help startups seize the right opportunities through technological synergies with NEC, partner connections, customer introductions and strategic design of proof-of-concepts (PoC).

QI’s new features are critical today, as brands navigate increased scrutiny around shifting customer expectations and social trends. Their story can inspire other startups to seize similar opportunities with feasible solutions that drive revenues.

What are your plans to expand the Elev X! program into new technologies or new geographies?
We are exploring the integration of more advanced technologies into our programs. Additionally, we are establishing systems to ensure these new technologies can be adopted efficiently to boost business growth globally, leveraging the NEC group network worldwide. Our primary goal is to drive tangible impacts in the real world.

What has been the most rewarding aspect of leading the Elev X! programs for you personally?
The startups we work with have a clear vision of what they want to accomplish. We simply guide them on the path to get there. The most rewarding aspect of my part in Elev X! has been seeing their ideas come to life and make a real-world impact. Together, we are fostering a culture to innovate with results.

What advice would you give to aspiring entrepreneurs looking to join the Elev X! programs?
If you are an entrepreneur seeking to drive innovation, timing is critical, and often market conditions can be more restrictive than originally anticipated.

Rapidly understanding customer needs is vital to refine one’s ideas and product for real-world value and profitability. Delays can result in lost opportunities, so I frequently tell our startups, “Let’s aim for aggressive growth together.”

The post NEC X transforming visionary ideas into commercial successes appeared first on My Startup World - Everything About the World of Startups!.

Startups have until July 7, 2024, to apply for the upcoming cohort, Batch 12, of NEC X’s coveted venture studio program, which will commence in Q3 2024 following a multi-phase selection process.

“We’re honoured to welcome the next wave of visionaries to apply for Batch 12 and join NEC X’s robust and growing ecosystem,” said Shintaro Matsumoto, President and CEO of NEC X. “It’s always inspiring to see the innovative ideas that emerge from our applicants, and even more inspirational to see their evolution and growth throughout our programs. I’m eager to see what the newest batch will create.”

Why Join Elev X! Ignite
Elev X! Ignite transcends traditional venture studio models, providing a unique blend of strategic collaboration, engineering expertise, extensive R&D resources, comprehensive support services and up to $200K in equity funding to propel transformative startups to success. The customized program is ideal for entrepreneurs and founding teams in the ideation or prototyping phase and is designed to fast-track innovations that synergize with NEC’s technologies, have a clear vision and the potential for substantial market impact.

During the six- to nine-month program, startups work closely with NEC X’s innovation team and engineers, NEC researchers, industry experts, coaches, mentors and advisors to refine their product. This collaborative journey includes conducting Customer Discovery and Validation with customer interviews, developing compelling Minimum Viable Products (MVPs), verifying Proof-of-Concept (POC), and engaging paying customers and investors.

Upon completion, participants will have validated a problem-solution fit and solution-product fit with a refined business model, a strong team, and scalable solutions, positioning them to generate recurring revenue and secure new funding.

While entrepreneurs and founding teams from all industries are eligible, NEC X has a particular strength and focus on B2B software and SaaS startups innovating in the fields of AI/ML, climate and agriculture, healthcare and digital health, marketing, and public safety.

How to Apply
Qualified candidates are those working on new business ideas, developing problem-solution hypotheses, or prototyping an MVP. It is not required to have launched a product or generated revenue. Submissions will be evaluated on innovation, market potential and scalability.

Approximately 30 applicants will be selected to advance to a pitch round and a pre-program of workshops and mentorship, followed by a final selection of six to eight startups to join Elev X!

Interested parties can learn more about the program by attending an introductory webinar.

For application information, materials, and deadlines, click here.

Fueling Startup Success
Since 2018, NEC X has helped launch and grow more than 100 startups. Past graduates of Elev X! include Metabob, eCommerceInsights.ai (now Indellia), Beagle Technology, NavigateIO, Flyhound, Qualitative Intelligence (Q.I.), WeWalk and many more.

• Manny Cerniglia, Co-founder and CEO of Flyhound (Batch 6): “We were impressed with NEC X’s continued support of our business. From facilitating investor introductions to connecting us with partners and helping us grow, they have been an incredible ally and a key figure in our success.”
• Nipun Kumar, CEO, Chekable (Batch 10): “The program structure – with pre customer discovery, customer discovery, and validation – helped me to think about how I could find a product that would be extremely profitable and business worthy. The great thing about pre discovery is that you get access to top coaches and mentors and you get a preview and a taste of what it’s like to work with NEC.”
• Tiffany Walling McGarity, CEO, Metapyxl (Batch 11): “The value of collaborating with NEC X has catalyzed our business scaling efforts by providing crucial insights into efficient operational practices and go-to-market strategies. This engagement has enriched our team’s capabilities in business acumen and strategic planning. Moreover, NEC X has fostered a vibrant network of peer companies, creating a collaborative community from which we all learn and grow. Their recognition of our efforts has also elevated our company’s profile, providing us with invaluable exposure and credibility in the industry.”
• Jean-Claude Junqua, Founder and Owner, CE2Innovate (Program Advisor): “Via the Elev X! program, a new venture or early-stage startup will have access to high quality workshops and expert guidance. They will also be able to experience a range of new perspectives while sharpening their problem solution fit via customer interviews. In a short period of time they will realize the power of a problem-centered approach. They will be able to do so with the guidance needed to be successful.”

To learn more about the Elev X! Program, please visit: https://elev-x.com. 

The post Applications open for NEC X Elev X! Ignite new cohort appeared first on My Startup World - Everything About the World of Startups!.

Alongside its strategic investment, NEC X will collaborate with Verdi to enhance its technology and geographic reach while augmenting NEC’s CropScope initiative. This complementary joint effort will enrich farm irrigation practices in Portugal with Kagome Co., Ltd, while at the same time, CropScope will empower Verdi’s farm automation capabilities and expand support for agricultural production.

This collaborative synergy and partnership exemplify the mission of NEC X’s Elev X! programs, which are designed to foster strategic alliances that bridge technological gaps, drive innovation and accelerate the adoption of transformative startups globally.

This also signifies Verdi’s entry into Elev X! Boost, which provides startups on the brink of significant scaling with a customizable blend of capital, strategic partnerships and integrations with NEC’s expansive tech ecosystem.

“With increasingly severe weather and resource scarcity globally, it’s clear that we need new, innovative agricultural infrastructure that is both efficient and sustainable,” said Shintaro Matsumoto, President and CEO of NEC X. “NEC X is committed to addressing this urgent issue through our strategic investment in Verdi, whose innovative solutions are set to transform farming practices. We’re confident Verdi will make a lasting impact, as part of Elev X! Boost and the CropScope initiative.”

“Our strategic partnership, collaboration and integration with NEC X is invaluable as we enhance our AI capabilities and scale our platform to reach new markets. With NEC’s international reach and deep sector expertise, we are uniquely positioned to be a global leader,” said Arthur Chen, CEO and Co-founder of Verdi. “NEC X’s support is more than an investment – it’s a partnership focused on startup success.”

Founded in 2020 by Canadian entrepreneurs Arthur Chen and Roman Kozak, Verdi is building modern automation tools for agriculture and solving the scaling challenges that have traditionally prevented the widespread adoption of farm automation.

Verdi’s intelligent devices transform existing farm infrastructure (ex. irrigation equipment) into smart systems capable of AI-powered automation, enabling farmers to boost crop and workforce productivity while significantly reducing technology adoption costs. Verdi has also driven a sustainable impact for its customers, including the world’s largest food brands. In 2023, Verdi saved its customers over 30 million litres of water.

This latest investment synergizes with NEC’s long-ranging commitment to promoting sustainable and profitable farming. This includes the development of its AI-enabled agricultural information and communication technology (ICT) platform, “CropScope,” and the establishment of joint ventures such as DXAS Agricultural Technology LDA with Kagome Co., Ltd.

With this investment, NEC X also joins a roster of other notable investors in Verdi, including SVG Ventures who is part of NEC X’s growing partner ecosystem offering invaluable expertise, resources and opportunities to help startups scale and who initially introduced Verdi at THRIVE’s accelerator demo day in Calgary during Stampede 2023.

To learn more about the Elev X! programs, please visit: https://elev-x.com.

The post NEC X invests in agritech startup Verdi Expeditions appeared first on My Startup World - Everything About the World of Startups!.

In addition, Multitude Insights has joined NEC X’s Elev X! Boost program, which empowers ambitious startups on the brink of significant scaling with a unique and customizable blend of capital, strategic partnerships, and integrations with NEC’s expansive tech ecosystem.

“Matthew White and Akihiko Izu bring unique expertise into governmental and public sectors, leveraging their diverse backgrounds in military and legal fields,” said Shintaro Matsumoto, President and CEO of NEC X. “Their deep understanding of the intricacies of law enforcement and public safety, combined with NEC’s technological strengths, positions us to drive significant and meaningful innovation together. We’re fully committed to supporting their success.”

“Our collaboration with NEC X is more than just an investment; it’s a robust partnership and unique opportunity to leverage leading tech innovation and resources to enhance public safety,” said Matthew White, Co-founder and CEO of Multitude Insights. “We look forward to a productive and enduring partnership with NEC as we continue to grow.”

Founded by MIT and Harvard alumni, Matthew White, a former Naval officer and ethics leader, and Akihiko Izu, an experienced Japanese lawyer and human rights advocate, Multitude Insights has developed the Bulletin (BLTN) platform, which utilizes AI and natural language processing (NLP) to intelligently monitor and analyze data across jurisdictions in real-time. This enables law enforcement agencies to effortlessly share information and collaborate through a unified intelligence network from anywhere in the United States. The platform addresses the critical – and time sensitive – challenges of information sharing and fragmented data that U.S. police departments face by facilitating the search and analysis of related crimes and enabling seamless communication across agencies after completing the necessary procedures.

The use of BLTN results in more accurate information, improved collaboration, and more efficient and successful case resolutions.

“Joining Elev X! Boost and collaborating with NEC is an ideal opportunity for any tech startup ready to scale, especially with their strength and proven success in the public safety sector,” said Akihiko Izu, Co-founder and COO of Multitude Insights. “NEC’s invaluable expertise will significantly enhance our efforts as we jointly strive to advance innovation for the improvement of community safety.”

“We are delighted to welcome Multitude Insights into NEC X’s portfolio. Their pioneering approach to solving the complex issue of fragmented data in law enforcement perfectly complements NEC’s commitment to social value, creative vision, and technological prowess,” said Eugene Le Roux, SVP, Digital Government, NEC Corporation of America. “BLTN has the potential to revolutionize not only local police departments, but also law enforcement on a global scale.”

To learn more about the Elev X! Program, please visit: https://elev-x.com.

The post NEC X invests in public safety startup Multitude Insights appeared first on My Startup World - Everything About the World of Startups!.

ERA focuses on early-stage startups and has invested in over 300 startups to date. ERA companies are innovating in a variety of significant industries, all with businesses ready to take advantage of its platform of more than 1,000 expert mentors and its experienced team for helping early-stage companies progress rapidly into exciting, viable, venture-scale businesses. The partnership between NEC X and ERA will include mutual collaboration and support for innovative founders to impact their startups’ trajectory positively.

NEC X was established in 2018 to accelerate the creation of new businesses through open innovation. NEC X has actively supported entrepreneurs through its “Elev X!” venture studio program, focused primarily on Silicon Valley. With this partnership, NEC X aims to enhance support for entrepreneurs on the East Coast of the U.S. seeking new business opportunities, focusing on New York.

As part of this partnership, entrepreneurs accepted into NEC X’s venture studio program, “Elev X! Ignite Batch11,” will be eligible to apply for ERA’s program. Simultaneously, startups admitted to ERA’s accelerator program will receive preferred access leveraging NEC’s technology through “Elev X! Boost” to further grow their businesses.

“We’re very excited to be partnering with NEC and NEC X, a leading technology innovator in both Japan and the United States,” said Murat Aktihanoglu, managing partner of ERA. “We are pleased to be helping NEC X extend their reach to New York City and the East Coast and look forward to collaborating with them to support the growth of startups for years to come.”

“NEC X is committed to ensuring the success of startups by helping to co-create and support them jointly with accelerators, venture capitalists and early adopters,” said Shintaro Matsumoto, President and CEO of NEC X. “Through the partnership with ERA, we aim to strengthen support for entrepreneurs on the East Coast, in addition to Silicon Valley, and pursue new business opportunities.”

NEC and ERA will continue to strengthen support for entrepreneurs through collaboration with diverse organizations, contributing to the future of innovation.

To learn more about the Elev X! Program, visit: https://elev-x.com.

The post NEC X and Entrepreneurs Roundtable Accelerator forge strategic partnership appeared first on My Startup World - Everything About the World of Startups!.