Hamburg-based start-up demonstrating exponential growth
Innovation is on everyone's lips nowadays with a view towards the future. Naturally, an innovative mindset and strategy are key to long-term success of which the brain behind the Hamburg-based Dealcode are acutely aware. The founders have come up with a machine-learning solution to prepare the sales industry for the future. In cooperation with the Exponential Innovation Institute (EXII), Hamburg News reports on companies that are conquering new markets aided by exponential innovation and artificial intelligence (AI). This is "Innovation "Made in Hamburg."
Acting instead of talking
Artificial intelligence is the number one issue in the business world followed by valuations in billions of dollars, as well as the risks and opportunities of ChatGPT etc. Alexander Weltzsch, CEO and joint founder of Dealcode is delivering concrete solutions instead of merely hyping the issue. The start-up is on a mission to optimize and automate sales processes, especially in industrial SMEs using self-learning algorithms (machine learning).
AI as a competitive advantage
Every order counts in the current economic crisis, which is dealing a severe blow to some businesses. The right technology can make all the difference to fighting declining orders and economic uncertainty. Even before terms like Chat GPT became popular, mid-market manufacturing, engineering, IT and consulting firms were able to tap into dormant potential using AI. Now, companies can use Dealcode to more accurately analyse business partners' purchase probabilities, risk factors and preferences thereby increasing their B2B sales close rates by up to 30 per cent, the founders said.
"Disrupt Yourself" motto
Founded in 2021, Dealcode already had a solid customer base in the industrial mid-market when generative AI hit the media. "This is a great opportunity for us. The growing, mainstream focus on these technologies raises our target group's willingness to try out software like Dealcode," said Weltzsch. "The rapid development of AI technologies is impressive. Dealcode aims to stay at the forefront by rising to constant challenges," he stressed. The team regularly considers the most important features and how to stand out from the competition based on the motto of "Disrupt Yourself." That is the best basis for potential exponential growth for, with and in industrial SMEs and even in crises.
Disruption games in AI Startup Hub Hamburg
Disruption Games, backed by the Exponential Innovation Institute, were played out in the AI Startup Hub Hamburg to search for disruptive approaches and to bring Dealcode to the next level. To this end, creative methods are used to bring all existing customers to the new product because it either creates a deeper customer benefit, leads to a significantly lower price (e.g., 0 euros) or a far more intense customer relationship. The motto here is: "If disruption cannot be foiled, then I would rather do it myself and exploit growth potential before my competitors do." The exponential growth of AI-driven business models disrupts the linear growth of non-AI-driven models (see graph).
This article has been written in co-operation with Uve Samuels, Exponential Innovation Institute Hamburg
Exponential Innovation Institute
The Exponential Innovation Institute (EXPII) in Hamburg helps corporations, start-ups and institutions develop products and business models for tomorrow's global economy based on the motto of "Enabling for the Disruptive Age". EXII is among the founders of the AI Startup Hub in Hamburg. Innovative startups apply artificial intelligence backed by AI Hamburg, Artificial Intelligence Center Hamburg ARIC, Hamburg Innovation, MLE Machine Learning in Engineering of TU Hamburg and German Entrepreneurship GmbH and on behalf of the German government. The institute has conducted research into rules and regulations on exponential growth in Europe.