June 11, 2014
– During the event “Disruption Day, Startups and Semantic Technology” held this morning in Milan, Expert System, a leader in semantic technology for information management, and Digital Magics, the innovative startup incubator, announced a framework agreement to support Italian online startups and promote innovative projects with a high technological value, thus contributing to innovation in Italy and the development of the two companies.
The two organizations – both Italian companies listed on the AIM Italia market of the Italian Stock Exchange – have partnered to further develop startups from Digital Magics and 56CUBE, the tech incubator for Southern Italy. The agreement provides for Expert System to offer startups the use and integration of its proprietary technology for a period of 18 months: Cogito Categorizer (for automatic categorization), Cogito Discover (for text mining) and Cogito Studio (SDK for customizing linguistic rules).
The Expert System technology, in use at major governmental organizations and international companies, provides constant cooperation between Expert System programmers and developers and those of Digital Magics LAB to support startups in integrating the products into their own business model and developing new ideas.
The selection of young teams specialized in developing new technologies and ideas in this market segment will also help accelerate the evolutionary processes of Expert System products.
The first Digital Magics startups to use Expert System semantic technology are: Buzzoole, developers of the Italian IEO (Influence Engine Optimization) platform that optimizes users’ online presence; Premium Store, who is developing and will manage EDICOLA ITALIANA, the publishers’ platform for the sale of online publishing products; and LiveXtension, the online communications and marketing agency.
Another startup using the technology is Mimesi, a division of the DBInformation group, operating in the field of media monitoring and press releases. Mimesi uses an innovative production process and dedicated proprietary software; Digital Magics is creating a joint development program with this startup.
“The most exciting part of working with a startup incubator is having the chance to actually help these aspiring entrepreneurs” commented Stefano Spaggiari, CEO of Expert System. “The synergy with Digital Magics was immediate, and creates exactly the right formula for generating successful projects; we are very pleased to provide our semantic technology and thus contribute to the growth of an entrepreneurial culture in our country.”
“The semantic intelligence that Expert System makes available to our startups is also of great value to our incubator,” said Enrico Gasperini, Founder and President of Digital Magics. “Thanks to this agreement, the online startups that we support will be able to enhance their services and accelerate their growth. We will also contribute to the continued development of the platform through our work with these young teams of talented and innovative individuals.”
“Evolution of the term ‘startup’ in the media”
During the event, Expert System and Digital Magics presented the results of their research, “The evolution of the term ‘startup’ in the media,” which highlighted how the use of the term has changed over the years. Analyzing nearly 2 million newspaper articles published in the last 22 years, 1,222 articles were identified. The word ‘startup’ (including the form ‘start up’) came into use in recent years, with widespread use from 2011 onwards. The same is true for other words related to startup, such as incubator, digital and IT, innovations that were little used in the ’90s but have seen a marked increase in recent years, although the culture of innovation and online were previously established. According to data provided by Mimesi, when the three terms start up, incubator and start upper, are combined, their frequency in 10 Italian newspapers has increased by 314% since 2005 (From 992 items in 2005 to over 4100 estimated by the end of 2014).
In the list of people most frequently cited in articles discussing startups, the first is Zuckerberg of Facebook, then Jobs of Apple and Mayer of Yahoo. Obama stands out among politicians, in second place after Zuckerberg, and among Italians, Berlusconi, followed by Monti, Passera, Maroni and Renzi. Regarding companies connected to the word ‘startup’, Google is the most frequently mentioned, followed by Apple, Microsoft and Facebook. References to the financial world are also important, from Milan Stock Exchange, Wall Street, and the NASDAQ to Intesa Sanpaolo, Banca Carige, UniCredit and Banca d’Italia. In addition to banks, Italian companies such as Telecom Italia, Enel and Fiat are also mentioned.
Regarding places most often associated with startups, Italy is among the most frequently mentioned, with the Italian cities of Milan, Brescia, Rome, Turin, Bologna and Bergamo standing out. The USA is of course frequently mentioned, in particular Silicon Valley. Europe comes next; other countries frequently referred to include France, Germany, China, United Kingdom, Israel, Spain and India.
Digital Magics – www.digitalmagics.com
Digital Magics is a certified venture incubator of innovative online start-ups that offer content and services with a high technological value. Digital Magics is listed on AIM Italia, the Alternative Capital Market dedicated to small and medium-sized Italian enterprises with high growth potential. It is organised and managed by the Italian Stock Exchange. Digital Magics builds and develops internet startups, working alongside their founders, investing equity and providing acceleration services. It takes the talent and ideas and transforms them into disruptive businesses that are successful in the Italian and international online economy. The incubator promotes a culture of entrepreneurship and risk, contributing to economic growth and employment for young people. Digital Magics offers services to support innovation, the creation and development of online start-ups, and it supports them in the search for new private and public investors, Italian or international, to fund the next stages of development. The Digital Magics model is unique in Italy and is based on the Digital Magics LAB: the team that identifies, analyses and launches new ventures, providing start-ups with innovative mentorship, financial, administrative, strategic, logistical, technological, communication and marketing services. It also offers business management support that is capable of accelerating the growth process of a business.