Thursday 26 June 2014

1st Prize at the Language Tech Summit

Lexicum is on a winning streak! After winning at the Balkan Venture Forum we now took home the 1st prize at the European Language Technology Innovation summit. The event was superbly organized, the competition was pretty solid but we still managed to stand out and were awarded the top prize by Paul RĂ¼big, a member of the European Parliament.

If we have to be honest, we didn't expect to win the top prize - there were some mindblowing cutting edge technologies showcased at the event compared to which our offering looks rather modest; there were some pretty good presenters as well. Still, the jury recognized that, albeit simple, Lexicum has the potential to deliver tangible improvement in learning vocabulary to a large number of people. Apparently, sophisticated tech was outweighed by good positioning and clear channel to market which outlines one important observation - quite often, innovation is not about delivering a fancy product but is rather about finding the big pain point which can be relieved relatively easily.

We hold great admiration for the other participants - startups, academic projects and established companies alike; we're very excited to have met them and we're sure some interesting collaborations will follow after this event. We'd like to thank the organizers at LT-I for giving us this opportunity and we're looking forward to working with them in the future.

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