As of May 7, 2019, ENKIDOO has graduated from the prestigious incubator program at CDL-Montreal. This is a tremendous accomplishment for the company and its founders, one that cements it in the city’s AI startup ecosystem and propels it further.
The Creative Destruction Lab (CDL) is a seed-stage program for scalable, science- and technology-based companies. The program employs an objectives-based mentoring process with the goal of maximizing equity-value creation. CDL-Montreal’s AI stream focuses on startups that make significant use of Artificial Intelligence and Data Analysis technologies.
ENKIDOO arrived at CDL with many milestones to accomplish. The program’s goal-oriented format allowed them to prioritize and make the right decisions with confidence. In particular, the founders prioritized talking to their first customers to find better product-market fit, and becoming the best in this funnel before expanding.
Four major milestones were accomplished during the program:
- Signed major partnership with Lightspeed POS
- Conducted technical due diligence for a data migration tool designed for Lightspeed POS customers
- Reached 50K in monthly revenue within one month of releasing their data migration tool
- Conceptualized the Personal Store Manager Assistant for POS users based on the feedback provided by customers
Ultimately, the program at CDL exposed the ENKIDOO founders to new ideas and helped them focus and test new value propositions. A key example of this is their new AI Personal Store Manager Assistant, an exciting development that will be unveiled on June 11 at Lightspeed Connect 2019 in Montreal.
One of two CDL-Montreal companies to be featured in the Year in Review book, to be published next month, ENKIDOO will head to Toronto in June for the Super Session. CDL’s annual event brings together world-class entrepreneurs, investors and scientists with high-potential startup founders. At the Super Session ENKIDOO will showcase advancements made during the CDL program year and strengthen network ties with other members of the global CDL community.
ENKIDOO is grateful to CDL Fellow Patrick Pichette who mentored the venture throughout the program, and to all the other mentors at CDL that provides their excellent strategic advice and vision to ENKIDOO.ai : Chris Matys, Claude Chriqui, Jeff Mittelman, Andrea Lodi, Jean-Daniel Bégin.
ENKIDOO aims to harness AI to power and enhance business decision-making. It is a supply chain automation and optimization platform for SMBs, with a focus on inventory management. It provides a simple way to streamline the procurement process, all the way from sales forecasting to the creation of optimal purchase orders for automated replenishment. For retail customers, the experience is augmented with an AI Personal Store Manager Assistant.
The CDL is a seed-stage program for massively scalable, science-based companies. Its nine-month program pairs founders with experienced entrepreneurs and investors to set focused, measurable objectives with the goal of maximizing equity-value creation. Since its inception in 2012, companies that have participated in the CDL programs have created $2.5 billion (CDN) in equity value.
About Lightspeed POS
Lightspeed POS Inc. is a leading provider of software, solutions and support systems to the small and medium size retailers and restaurateurs that are at the heart of our communities. Our mission is to empower these businesses, helping them engage with consumers, manage operations, accept payments and generate growth.
About Lightspeed Connect 2019
Connect is a one-day event that brings together local business owners to share insights, network, learn, and find inspiration. Curated for independent business, owners and founders come together to discover actionable tips and tactics that will accelerate growth and success.