YouNoodle
Innovation platform that supports startup ecosystems through competitions, accelerators, networking, and evaluation tools.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
$1.1m | Seed | ||
| Total Funding | 000k | ||
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YouNoodle has established a notable presence in the startup ecosystem by providing a comprehensive platform for managing competitions and programs geared towards fostering innovation. Founded in 2010 by Torsten Kolind, Rebeca Hwang, and Bob Goodson, the company originated from a university project at the University of Cambridge focused on predicting startup success. This academic foundation evolved into a technology-driven solution for organizations seeking to identify and engage with promising startups and talent globally.
The company's core business revolves around its software-as-a-service (SaaS) platform, which streamlines the entire lifecycle of innovation challenges, startup competitions, grants, and awards programs. This platform equips clients with tools for application management, judging, and overall program administration. By facilitating these programs, YouNoodle serves a diverse client base that includes major corporations like Amazon and Microsoft, government entities such as the World Bank, and academic institutions like Stanford University. The business model is primarily subscription-based, where these organizations pay to utilize the platform to run their initiatives, effectively connecting them with a global network of entrepreneurs and innovators.
The platform itself, named YouNoodle Engage, is designed to handle the complexities of large-scale open innovation programs. It provides features for creating customized application forms, managing workflows for judging and evaluation, and facilitating communication with participants. This enables organizations to efficiently source and assess a high volume of startup applications, ideas, and projects. A key benefit for their clients is the access to a vast, global community of over 400,000 startups and entrepreneurs that YouNoodle has cultivated over the years, providing a rich pool for sourcing talent and disruptive ideas. This focus on creating a specialized technological infrastructure for innovation programs allows YouNoodle to address the specific needs of corporates and governments looking to tap into the global startup landscape for new technologies, partnerships, and investment opportunities.
Keywords: startup competitions, innovation management, SaaS platform, open innovation, grants management, awards programs, entrepreneurship ecosystem, program administration, judging platform, talent sourcing