How did Reveleum’s experience in the NEC X Elev X! Ignite Venture Studio Program impact the company’s strategic direction and growth trajectory?
NEC X’s Elev X! played a pivotal role in helping us bring our software to market. One of the most impactful lessons we learned was a fundamental yet crucial question: What problem are you solving, and does it truly need to be solved? While many great ideas exist, it’s essential to assess how much of a priority the problem is for customers compared to other challenges they face daily.

Elev X! guided us through this process by encouraging us to conduct hundreds of customer interviews. They also taught us how to ask unbiased, non-leading questions—helping us avoid the trap of seeking validation for our pre-existing solution. This experience fundamentally shaped our approach to product development and market fit, ensuring we address real, pressing customer needs.

What were the key milestones and challenges Reveleum faced during the development of its proprietary technology for medical record management?
Our first major milestone was customer discovery. We conducted over 30 phone and Zoom interviews with healthcare professionals, followed by on-site observations to see their workflows in action—a practice we continue today. Interviews often present idealized or worst-case scenarios, but direct observation provided deeper insights into real challenges. This hands-on approach allowed us to develop a solution that truly addressed the problem.

One of our biggest challenges was securing time with customers—not only for discussions but also for live testing. Overcoming this hurdle led to our most significant milestone: successfully conducting beta testing in a live healthcare environment.

How does Reveleum differentiate itself from other health tech startups focusing on medical record management and operational efficiency?
Reveleum stands out due to our deep expertise in both LEAN methodologies and healthcare operations. While most software solutions automate manual tasks, we took a different approach. We first defined the core problem, then applied a LEAN methodology to seamlessly integrate into existing workflows without disruption.

Additionally, we prioritized data security, designing our platform to meet the same stringent standards as internal hospital networks. Finally, our irresistible pricing model offers a competitive advantage, making our solution both cost-effective and highly valuable.

Can you discuss any specific strategies Reveleum has employed to secure investment and support from NEC X?
Our initial funding came from angel investors, many of whom were close connections or referrals. We presented them with our vision for improving healthcare, backed by a strong business case. When considering venture studio and accelerator programs, we were drawn to NEC X for its deep technology expertise, strong corporate backing and ability to provide more than just funding. NEC X’s hands-on collaboration, access to NEC’s research and LLM technology and opportunities for strategic partnerships aligned with our goals.

The NEC X application process was straightforward. We applied online and were evaluated on innovation, market potential, scalability and alignment with NEC X’s focus. I encourage others with a clear vision and the potential for market impact to apply with NEC X.

How has Reveleum’s platform demonstrated its value in improving operational efficiency and patient outcomes for healthcare providers?
From the start, our platform was designed to enhance both operational efficiency and patient outcomes. It enables clinicians to quickly access critical data that is often buried in traditional EMRs.

However, what truly set us apart was our commitment to flexibility and continuous customer feedback. By listening to our early users, we developed additional features that directly impact revenue generation and cost reduction. Our clients have reported increased throughput, Improved clinician satisfaction with EMR navigation and direct revenue gains through enhanced reporting.

What are the major pain points in healthcare record management that Reveleum aims to address, and how does its technology solve these issues?
Currently, external medical records are shared via read-only portals (e.g., Care Everywhere, MyChart) or electronic fax (e-fax). While these documents can be imported into EMRs, they lack searchability and structured indexing. Reveleum solves this by:

• Automatically indexing documents by category (e.g., Labs, Radiology, OP Reports).
  
• Creating a keyword-based table of contents for each record.
  
• Using EMR-standard terminology for easy integration.
  
• Automate the entire process upon document receipt.

This ensures clinicians can quickly locate and access relevant information without manual sorting or searching.

How does Reveleum plan to scale its operations and expand its market presence in the coming years?
Initially, we focused on community-based hospitals (<200 beds) due to their simpler decision-making structures. We are gaining traction through word-of-mouth referrals among similar-sized hospitals. Additionally, we have:

• Engaged hospital executives to discuss our impact with potential clients.
• Begun procurement processes with two large hospital networks.
• Planned entry into industry trade shows upon securing larger clients.
• Hired our first salesperson, with plans to expand nationally as traction grows.

What advice would you give to other health tech startups looking to secure investment and partnership opportunities similar to those provided by NEC X?
My biggest takeaway from participating in an incubator program like NEC X was the importance of preparation. We had pre-work assignments before attending the intensive week in Palo Alto, and the more prepared we were, the more we benefited.

Out of 150 applicants, only 6 were selected as finalists and just three received funding. Success required excelling in their structured nine-month program, but the dedication paid off. Not only did we secure funding, but NEC X’s support helped us attract additional investors.

We’ve maintained weekly advisory meetings with NEC X since our acceptance, leveraging their expertise for ongoing guidance and strategy. Their mentorship has been invaluable in shaping our growth.

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Elev X! continues to experience record-breaking growth, with applications jumping 64% year over year and increasing 37% since the last cohort, highlighting the program’s growing influence and ability to attract high-potential startups from around the world.

“Elev X! provides a collaborative environment where bold ideas become impactful solutions. Our record-breaking growth shows that startup founders and investors alike recognize the unmatched value NEC X delivers,” said Shintaro Matsumoto, President and CEO of NEC X. “We’re helping bold innovators accelerate faster, and the startups in Batch 13 are poised to make a meaningful impact – whether it’s transforming wine production, automating debt collection, streamlining biotech compliance or enhancing enterprise decision-making with conversational AI.”

Introducing the Elev X! Ignite Batch 13 Startups:

• Bazzuka AI – AI agent for debt collections to save costs and boost recovery for collection teams.
• EnterpriseChai – The insight engine that thinks & acts for your GTM teams.
• Lokatial – AI-powered compliance platform streamlines regulatory workflows for pharma and life sciences companies, reducing compliance costs by up to 60%.
• Otani – AI-driven assistant enhances VC investment decisions with data-driven evaluations, improving efficiency in early-stage deal assessments.
• Vigneron.AI – AI platform helps wine growers analyze data for proactive vineyard management, enhancing agricultural efficiency and wine quality.
• Yadag – an AI-powered seasonal staffing platform that helps farms hire, onboard and manage workers through WhatsApp—automating paperwork, visa processing and compliance. Over 30K workers sign-ups and growing.

Each startup benefits from NEC X’s extensive support ecosystem, including access to NEC’s global network of 45,000 patents, curated workshops, investor readiness training, expert advisors and connections across 55+ international markets.

Graduates of Elev X! programs have gone on to raise funding, gain early traction and bring transformative solutions to market. Recent alumni include Chekable, Clikr, GPx, Multitude Insights, Qualitative Intelligence, Reveleum, Verdi and more.

Applications for the upcoming cohort, Batch 14, will open in May 2025. For more information about Elev X! Programs, click here.

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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/.

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Carbide Ventures is led by an experienced team that brings expertise in growth and fundraising to NEC X’s Elev X! programs. Hiro Yoshikawa, founder of Treasure Data, scaled the company to $200M ARR before leading its $600M acquisition by Arm. Dan Weirich adds to the team’s depth with a track record of successful IPO exits.

Elev X! empowers tech entrepreneurs with a unique blend of collaboration, R&D resources, capital and access to NEC’s extensive ecosystem to drive early-stage startup success.

The partnership will expand mutual access between Elev X! startups and Carbide Ventures’ vast networks of investors and entrepreneurs, providing even more resources and opportunities for new investments from Carbide Ventures and others. Additionally, Carbide Ventures leaders, who have personally raised hundreds of millions, will become mentors for Elev X! participants, offering first-hand insights into fundraising, direct investments and guidance on exploring exit strategies.

“Carbide Ventures’ leadership embodies the entrepreneurial spirit our Elev X! programs are designed to foster,” said Shintaro Matsumoto, President and CEO of NEC X. “In addition to new funding opportunities for startups, this partnership accelerates NEC X’s ability to drive groundbreaking technologies into global markets. Together, we’ll equip early-stage companies to scale faster and thrive in a fiercely competitive world.”

“Building a company is never easy—I’ve lived it firsthand. That’s why having the right long-term partners is essential,” said Hiro Yoshikawa, General Partner at Carbide Ventures. “Partnering with NEC X allows us to merge their world-class innovation expertise with Carbide Venture’s hands-on scaling strategy. Together, we’re creating a powerful launchpad to drive founders from startup beginnings to global impact.”

Carbide Ventures will join NEC X’s rapidly growing partner network, including leading accelerators, investors, R&D labs, and 6,000+ entrepreneurs. Other notable collaborations in this network include partnerships with Alchemist Accelerator, Entrepreneurs Roundtable Accelerator, SVG Ventures|THRIVE, Sand Hill Angels and more.

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Given your prediction of “teaching-free AI Agents,” what ethical considerations is NEC X actively exploring, and how are you preparing your portfolio companies to address these challenges proactively?
At NEC X, we acknowledge the critical importance of ethical AI practices, particularly as “teaching-free AI Agents” evolve. Together with NEC Corp, we are actively exploring AI auditing and standardization processes to ensure transparency, fairness and accountability. By leveraging NEC’s expertise, we aim to develop shared services that simplify compliance, making these ethical practices scalable and accessible for startups. Additionally, we guide our portfolio companies to integrate responsible AI principles into their business models from the outset, ensuring their innovations align with societal and regulatory expectations. This dual focus on technology and ethics positions our startups to navigate the complexities of AI responsibly while maintaining competitive advantages.

You mentioned a potential revival in the investment landscape. How do you anticipate this will impact the funding strategies of NEC X and the types of startups you will be investing in?
Acceleration in the investment landscape signals an exciting time for innovation. At NEC X, we foresee increased market activity and competition, which underscores the importance of refining our focus on startups aligned with our strategic themes. We plan to deepen our engagement in early-stage investments, identifying companies with disruptive potential and ensuring they have the resources to thrive. By adapting our strategies to this dynamic environment, we aim to support startups that leverage cutting-edge technologies while aligning with global trends in sustainability, AI, digital transformation and more.

How do you envision startups leveraging the rise of “teaching-free AI Agents” to create disruptive business models and gain a competitive edge in their respective markets?
The advent of “teaching-free AI Agents” gives startups a unique opportunity to innovate rapidly. By targeting specific, underserved niches, startups can address complex user challenges with precision, creating highly impactful solutions. Instead of competing directly with large corporations, startups should focus on integrating these agents into specialized workflows, automating tasks, and enhancing decision-making in ways that larger organizations may overlook. This focused approach allows startups to differentiate themselves and establish leadership in emerging markets where agility and customer-centricity are key.

What role does government regulation play in developing and deploying “teaching-free AI Agents”? How can we ensure responsible innovation while fostering a competitive and dynamic AI ecosystem?
Government regulation will play a pivotal role in shaping the future of “teaching-free AI Agents,” but it requires a delicate balance. Proper oversight is essential to ensure safety, ethical usage, and public trust. However, it is equally essential to avoid over-regulation that could stifle innovation or slow progress. Collaboration between policymakers, researchers, and industry leaders will be critical to striking this balance. NEC X advocates for clear, adaptive regulatory frameworks that encourage responsible innovation while enabling startups to experiment and grow. This approach ensures a dynamic ecosystem that supports groundbreaking advancements without compromising on accountability.

How are advancements in infrastructure, data centers, and space-based communication technologies enabling the development of these sophisticated AI agents and driving the broader AI revolution?
The convergence of advanced infrastructure, modern data centers and space-based communication technologies forms the backbone of the AI revolution. High-speed processing, robust data storage and seamless global connectivity empower AI systems to operate at unprecedented scales and speeds. Space-based communications extend these capabilities to remote areas, making AI-powered solutions more accessible worldwide. These technologies enable “teaching-free AI Agents” to learn, adapt, and perform in real-time environments, fostering innovation across industries such as healthcare, logistics and education. Together, they drive the evolution of a truly interconnected AI ecosystem.

Given the potential for rapid technological advancements, how does NEC X ensure that its portfolio companies remain agile and adaptable to the ever-changing AI landscape?
NEC X ensures agility by fostering close collaboration between our portfolio companies and NEC’s global research institutes. This partnership provides startups with diverse perspectives, cutting-edge technologies and access to global markets. We also encourage startups to adopt flexible strategies that allow them to pivot as new opportunities or challenges emerge. Through ongoing mentorship, we equip them with the tools to anticipate trends and remain resilient in an unpredictable AI landscape. This emphasis on adaptability ensures that our companies can evolve alongside technological advancements and maintain a competitive edge.

What are the most significant risks and uncertainties you foresee in the AI space in the coming years, and how is NEC X mitigating these risks within its portfolio of companies?
The rapid pace of AI advancements presents risks that are challenging to fully anticipate, including ethical dilemmas, unintended societal impacts and technical failures. At NEC X, we focus on fostering a coexistence between AI and human society by integrating ethical considerations into the core development process. By embedding these practices into the DNA of our portfolio companies, we help them navigate uncertainties while building trust with users, regulators and stakeholders.

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Clikr is revolutionizing how customers interact with their favorite brands and products through shareable video reviews, helping brands foster more profound and lasting connections with target audiences. The platform offers advanced, AI-powered tools that help brands turn passive customers and users into impactful, loyal advocates, who capture and share their authentic, personal and engaging experiences after using a product.

“Clikr embodies the spirit of innovation and excellence that NEC X strives to cultivate in all our startups,” said Shintaro Matsumoto, President and CEO of NEC X. “Their AI solution holds the potential to enhance new purchasing experiences through possible collaboration with NEC’s technology, enriching people’s lives. Clikr has reimagined user engagement and is redefining how brands connect with their audiences.”

With a diverse and growing community of partners, users and influencers, Clikr’s platform offers a new and more cost-effective way to drive product exposure, increase web traffic and convert more sales. Recent research found that including authentic, user-generated reviews can increase the likelihood of purchasing a product by 270% or more.

Clikr addresses this need with its unique approach to user-generated content and community building, making it a premier choice for fashion and beauty brands seeking to revolutionize their e-commerce strategy and transition to social commerce.

By connecting brands with passionate content creators through its easy-to-use solution, Clikr cultivates an authentic community that transforms casual viewers into loyal fans and customers. Additionally, with tools to share shoppable videos, screen top-performing advocates, and monitor creator impact in real time, the solution empowers brands and influencers to maximize their reach. The company is already seeing rapid traction in the fashion and beauty industries.

“We are incredibly grateful for the support and resources provided by NEC X throughout our journey,” said Laura Khoudari-Rico, CEO of Clikr. “The Elev X! Ignite program has been instrumental in refining our technology and business model, enabling us to accelerate our growth and reach new heights. We are excited to continue our mission of transforming customer engagement as we head into the next chapter of our journey.”

NEC X’s Elev X! Ignite program transforms early-stage founders into seed-ready startups, offering a unique blend of strategic collaboration, engineering expertise, R&D resources, and up to $200K in equity funding to help early-stage startups achieve success. During the six- to nine-month program, Clikr worked closely with NEC X’s innovation team, engineers,  industry experts, and mentors to refine their product, validate their business model, and prepare for scalable market entry. Clikr joined the program as part of cohort Batch 10, which began in Q3 2023.

With the completion of the Elev X! Ignite program, Clikr is poised for significant growth and market impact.

To learn more about Clikr and experience their advanced technology, visit https://www.clikr.ai.

NEC X recently opened applications for its latest Elev X! Ignite cohort, Batch 13. See how to apply to their venture studio program here.

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Startups have until December 20, 2024, to apply for the upcoming cohort, Batch 13, which will commence in early 2025, following a multi-phase selection process.

“Elev X! empowers ambitious founders with bold ideas to create a lasting impact,” said Shintaro Matsumoto, President and CEO of NEC X. “Each new cohort brings a fresh wave of innovation to solve pressing real-world challenges. These startups are pushing the frontiers of technology, creating solutions that address critical market needs and contribute to a better society. Batch 13 represents an opportunity to take these transformative ideas and provide the support they need to thrive in an increasingly complex and competitive landscape.”

NEC X has continued to experience rapid growth, both in the number of Elev X! applicants, as well as its robust network of tech experts and entrepreneurs. Today, the NEC X network encompasses more than 6,000 entrepreneurs worldwide. NEC X has also expanded with new corporate partnerships, providing additional resources and invaluable startup support, including Sumitomo Life, SOMPO Digital Lab and Yazaki Innovations. 

Applications for Elev X! Ignite increased by 23% from Batch 11 and more than doubled year over year since 2023, underscoring the value of NEC X’s unique blend of support, funding and market access. In addition, SPIN, NEC X’s monthly startup-investor pitch and networking event series, has drawn more than 500 participants since launching in June, offering another gateway for startups to connect with investors.

Why Join Elev X! Ignite
Elev X! Ignite is unlike any traditional venture studio, offering a unique blend of strategic collaboration, engineering expertise, extensive R&D resources, comprehensive support services and funding to accelerate transformative startups. This customized program is ideal for entrepreneurs and founding teams in the ideation or prototyping phase. It is designed to fast-track innovations that synergize with NEC’s technologies and businesses, have a clear vision and the potential for substantial market impact.

While entrepreneurs 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, climate and agriculture, marketing, public safety, and healthcare.

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

Since its founding in 2018, NEC X has helped launch and grow more than 130 startups.

How to Apply
Qualified candidates are those working on new business ideas, developing problem-solution hypotheses, or prototyping MVPs. 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 advance to its first phase called “Business Design,” a fee-free and equity-free pre-program of workshops and mentorship, followed by a selection of six to nine startups to join Elev X! Ignite.

For application information, materials and deadlines, click here.

For more information about Elev X!, please visit: https://elev-x.com.

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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.

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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.”

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QI’s Voice of Customer AI SaaS solution, VoxQI, can now rapidly identify and analyze hundreds of multi-channel videos, images, and texts in minutes. This empowers brands to accurately predict audience responses while minimizing compliance and social risk.

The new features are crucial today as brands and advertisers navigate increased scrutiny and heightened sensitivity to shifting customer expectations and social trends. Brands invest billions of dollars into consumer insights, content testing, and customer intelligence to build equity and loyalty, and still get it wrong. With QI’s AI-powered platform, companies can test content and messages in real-time, analyze sentiment at scale, and accurately forecast risks faster and more cost-effectively than resource-intensive research methods like surveys and focus groups.

“Traditional testing and monitoring tools and methods are falling short, exposing even well-established brands to the risks of backlash from poorly received campaigns. The need for rapid and accurate social sentiment analysis is clear,” says JD Rico, CEO of QI. “Our partnership with NEC X is focused on developing and optimizing advanced AI and NLP technologies for sentiment analysis. This collaboration aims to provide brands with the tools to navigate online sentiment effectively, ensuring their reputation and creative integrity are protected. With QI, we’re moving towards a future where brands can engage with their audiences confidently, backed by precise and insightful technology.”

This is the latest development in an ongoing collaboration between NEC and QI, which graduated from NEC X’s Silicon Valley venture studio program, Elev X! Ignite, in spring 2023. Elev X! provides access to NEC X’s comprehensive startup ecosystem and resources, including funding, hands-on support and mentorship, advanced technology integrations, skill-development workshops, strategic collaborations and more.

“QI is empowering brands and advertisers to be bold and creative, without risking their perception. In today’s marketplace, where a single ad can shift public favor, this technology is indispensable,” said Shintaro Matsumoto, president and CEO, NEC X. “This collaboration showcases the powerful technological synergies we foster at NEC X. We’re proud to support QI and are excited to see them achieve new heights.”

VoxQI enables real-time message testing and risk assessment, allowing brands to create personalized and engaging communications while anticipating the audience’s response. The SaaS platform uses Voice of Customer AI to analyze anonymous data from past and current campaigns, customer reviews, real-time social trends, compliance and brand voice to create digital clones of target customers. The digital clones are then used to test marketing concepts and optimize messaging, streamlining the process and significantly reducing the financial risks associated with marketing campaigns.

QI’s predictive analytics lead to faster time-to-market for campaigns and significantly reduced testing and impact costs.

NEC’s Semantic Model Technology is a proprietary machine learning algorithm and part of its growing portfolio of cutting-edge AI technologies. For this integration, the Semantic Model Technology is being used to increase the efficiency of QI’s large language model, training the platform in real-time to identify critical information and trends in user-generated content.

More information about QI can be found at https://www.voxqi.com/.

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