Palaszczuk Government Hot DesQ participant raises networking bar

Advance Queensland Hot DesQ participant and artificial intelligence proponent CRiskCo is determined to leave a lasting impression on Queensland businesses, both large and small.

Minister for Innovation, Science and the Digital Economy Leeanne Enoch – who helped attract the startup to Queensland - said CRiskCo has quickly connected with businesses, financial institutions and universities across the state since arriving in January.

Ms Enoch congratulated CRiskCo for raising the bar and completing more than double the amount of local networking and community engagement activities required of program participants.

“Over the minimum six months of their Hot DesQ commitment, program participants are required to amass at least 1000 points for networking and engagement with the local startup and business communities,” Ms Enoch said.

“CRiskCo amassed 1085 networking points last month alone, by hosting startup networking events, pitches and workshops in Brisbane, Cairns and the Sunshine Coast.

“These events build capacity within our metropolitan and regional innovation centres and give the program participants fantastic opportunities to broaden their connections and market traction locally – a win-win for Queensland,” she said.

CRiskCo applies artificial intelligence to the large volumes of data held in accounting systems to help organisations assess credit risk and adjust their market strategies.

Chief Executive Officer, Erez Saf - who will be taking part in a Hot DesQ panel in Mackay next week - founded CRiskCo in 2015. The startup currently operates out of San Francisco and Tel Aviv, Israel, in addition to the Hot DesQ presence in Queensland.

Mr Saf met Ms Enoch during her visit to Silicon Valley in May 2016.

“Our Queensland journey really began with this meeting and our introduction to the Hot DesQ program,” Mr Saf said.

“CRiskCo is at a critical development stage for a startup – we have a great product and generate some revenue but need to build our global profile, increase our regional connections and foster market acceptance.

“Hot DesQ is a great opportunity for us to do just this in a robust financial market that will help us scale up our global operations in the future,” he said.

“My goal has been to connect with as many businesses as possible, ranging from small tourism proprietors to big banks, and give them an understanding of how artificial intelligence can improve their financial efficiency and bottom line.

“Through big data analytics we can gain insights into the behaviour of creditors and debtors and recommend actions that can limit our clients' exposure to risk.”

CRiskCo is one of 25 companies to receive funding to establish a Queensland presence under round one of the Hot DesQ program.

Round two closed last month and applicants are currently being assessed. Successful applicants receive up to $100,000 to work with a host organisation and grow their business in Queensland.

Advance Queensland is the Palaszczuk Government's $420 million whole-of-government initiative focusing on harnessing innovation to unlock business potential, grow our regions, foster new industries, and give future generations the necessary skills and knowledge for the jobs of tomorrow.

For more information about Hot DesQ visit www.hotdesq.com.au

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