#StartitSavvy: 3 startups scaling their business with Oracle for Startups
Our partner Oracle for Startups helps people build things never built before. Leveraging Oracle’s global customer base and experienced product teams, startups scale faster with powerful connections and technology like blockchain and AI, plus free cloud! Account manager Max Dunhill walked us through some of his favorite startups scaling up with Oracle’s help:
Blockchain for speed & revenue
Blockchain allows for an accurate and transparent record of several certification processes, making forgery nearly impossible. Oracle for Startups member Tracifier is on a mission to reduce food waste. The blockchain-based traceability application is used for food and certificate verification to reduce food fraud that leads to both food and financial waste.
Powered by Oracle Blockchain Solution, the Tracifier system can cut the time it takes to get certification of food products by 40%, helping increase revenue by a third. To help take their product global, Oracle is mentoring Tracifier through its startup program as well as introducing them to companies to help them scale their business.
Credibility & trust
Regulatory reporting for financial institutions might not give everyone a thrill, but FinTech startups know it’s essential. In 2020 alone banking and financial institutions were hit with more than USD 10.4 billion worth of fines for various regulatory infractions. The culprit here is outdated and fragmented technology.
B.fine’s platform BRX is the first user-centric platform for optimizing the full regulatory reporting process. B.fine are now running on Oracle Cloud Infastructure and this partnership is bringing instant credibility: they are bringing in 8-10 new deals by the end of the year.
Klaas van Imschoot sums up why joining forces with Oracle for Startups has been key: “Banks are seeing the value of our platform immediately, but gaining credibility and trust is really a challenge for any startup in the space where we are operating. This is where Oracle Technology and expertise are key. With Oracle we can help banks be first movers and lead innovation through our cloud-based, data-driven, regulatory intelligence.”
Smart recruitment
Did you know there are over 140 types of biases that exist in the human brain? That’s why we need science and technology to address the diversity and inclusion problem in the workplace. This is where MeVitae comes in. The cloud startup uses deep technology and people science to help organizations hire smarter, faster, and fairer by mitigating unconscious and algorithmic bias.
MeVitae’s AI-based blind recruiting solution plugs into existing Application Tracking Systems (ATS), including 15+ leading global vendors and redacts all document types including CV, cover letter, and application forms, so candidates really are seen for their skills and accomplishments, rather than details that may lead to biases.
Organizations with more diversity reflected in their talent produce better results: increased innovation practices, sales, and revenue. They are simply better performing companies! MeVitae’s results don’t lie: the startup’s customers report 70% cost savings, 60% time savings, and up to 30% better gender and ethnic diversity, as well as doubling their talent pool. No wonder the startup is scaling fast, and has seen a 200% increase in demand for their solution over the past year alone.
Are you interested in knowing more about how Oracle for Startups can help you reduce costs and open doors to scale faster? Check out their website for all the details on their business-building benefits.