Sometimes, when Volodymyr Pigrukh, CEO of Profitero, wants to grab the attention of a retailer he sees as a potential customer, he shows them just how well his pricing analysis software works with a shocking demonstration. He runs an analysis of the retailer’s prices compared to the most aggressive of its competitors, grabs a screen shot of the comparison and sends it to the company’s executives via e-mail. Those retailers whose prices stack up poorly against the competition understand viscerally the value that Profitero’s software can bring them. “I hope nobody got fired in the process,” he says.
Profitero has only 13 employees–divided between Ireland and Belarus–but that didn’t stop the one-year-old startup from winning the IBM Entrepreneur of the Year award last night in San Francisco. The company bested eight other young outfits from around the world who competed in the finals of the annual IBM SmartCamp competition–a program targeting companies whose products and services align with the Smarter Planet strategy. The finalists were the winners of nine regional contests held in Barcelona, New York, Austin, Shanghai, Bangalore, London, Tel Aviv, Rio de Janeiro and Istanbul.
Almost all of the finalists offer analytics software or services–demonstrating that there’s a role for startups in the huge and fast growing global analytics software market.
Today marks the culmination of the IBM SmartCamp global entrepreneur competition. Nine startups from around the globe have spent the past three days in San Francisco learning from venture capital and business leaders, honing their VC pitches, getting feedback from mentors and networking with one another. Today, at the Bently Reserve, they made their final pitches and listened to speeches by government and business leaders.
The winner is….
Profitero, from Ireland (by way of Ukraine and Belarus), is the winner of the IBM Global Enterpreneur of the Year award.
Congratulations Profitero!
The People’s Vote Award Winner is….
IDXP, from Brazil, won the popular vote with 845 votes of a total of 2537 votes cast. Profitero came in second, and C-B4 came in third.
Congrats IDXP!
15:06
Back in 1992, when I was the technology editor at the San Jose Mercury News, I wrote in a note attached to the annual Silicon Valley 100 report that Silicon Valley was “a state of mind” rather than a narrow geography. I was thinking that it was a San Francisco Bay Area thing rather than exclusively a Santa Clara Valley thing. Well, today, it’s a global thing.
That reality hit home with me today at the IBM SmartCamp Finals in San Francisco. The winners of nine regional contests conducted last year have gathered here to compete this week to be the global winner of the contest, which offers participants loads of advice from venture capital and business experts and a shot at media attention. These companies came from all over: India, Romania, Israel, Ireland, Spain, China, Brazil, and, yes, the United States–including an outfit, SecureWaters, from Soddy Daisy, Tennessee. Which helps prove my point. These days, a Silicon Valley experience can happen practically anywhere. (Oh, by the way. The “Irish” company is led by a guy from the Ukraine and two guys from Belarus.)
The way IBM SmartCamp works is the startup entrepreneurs make their pitches to venture capitalists, get feedback on the pitches, get deep advice on their business plans, and pitch again. The best pitch wins.
Today, the entrepreneurs took turn giving their first round of pitches. So, lots of PowerPoint presentations. Some nervous CEOs. Others sounding calm and collected. Here’s Ronald Zhang, president of Palmap, a Shanghai startup focusing on collecting and integrating data for indoor mobility mapping apps–for use in shopping malls, airports, schools and the like. He spoke before making his pitch to the VCs.
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