AI start-up hoping to put lawyers out of business wins global award

21 Jun 2019913 Views

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SpotDraft co-founder and CEO Shashank Bijapur. Image: Get in the Ring Foundation

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An Indian start-up developing AI for contract management has been named the winner of a global start-up competition.

The Get in the Ring start-up competition was held earlier this week at the Global Meetup 2019 event in Berlin, with thousands of start-ups from more than 80 countries taking part. Its organisers revealed the winners as SpotDraft from India, Dynaxion from the Netherlands and Fiskaly from Austria.

The event is notable for its rather unique pitching format where two sets of start-ups battle it out – with words – in a boxing ring. Since it started in 2012, the Get in the Ring event has included start-ups from more than 100 countries.

SpotDraft won the overall award – or Heavyweight Winner, to give its official name – for its AI-driven contract management platform designed to help businesses negotiate, sign, manage and analyse their legal documents. On stage, the start-up’s co-founder and CEO, Shashank Bijapur, said: “My utopia is putting lawyers out of business!”

Fiskaly was named as the Middleweight Winner for its unified API for fiscalisation across Europe. It aims to simplify the stringent and costly constraints of financial systems, enabling businesses to be more flexible and dynamic.

Finally, the Lightweight Winner was revealed as Dynaxion, which aims to improve the accuracy and efficiency of security screening processes worldwide. The three winners will receive business development support to reach new clients and potential partners.

Other finalists taking part in the event are active in a variety of industries, with concepts including self-driving cars, neutron-based scanning systems, an AI-powered sound recommendation platform, an eye examination solution on the phone and an asset management application.

“We are here to unlock the potential of the start-ups. Even though we have three winners, everyone that steps on this stage is already a hero. It is about pushing them out of their comfort zone,” said Jochem Cuppen, co-founder of Get in the Ring.

Colm Gorey is a journalist with Siliconrepublic.com

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