DENVER, June 21, 2019 /PRNewswire/ -- GS1 US® announces LexSet, a computer vision (CV) company, has won the $10,000 first-place grand prize in the inaugural Startup Lab Pitch Competition at GS1 Connect 2019, taking place this week at the Gaylord Rockies, Denver, Colorado. Additionally, Simplista won the $4,000 second-place prize, and Locai was awarded the $2,000 third-place prize.
The Startup Lab is designed to showcase emerging technologies that could have a significant impact on commerce. Eight startups with products that were launched between June 2017 and May 2019 were selected to present their technology capabilities and compete to win a cash prize. The finalists presented their ideas during The Startup Lab Pitch Competition sessions on June 19 and 20 to a panel of judges composed of GS1 US executives and technology experts from leading companies. Finalists were evaluated on their product's originality, usability and potential societal impact, as well as their overall presentation of the product while on site. The winners will be featured in a forthcoming whitepaper from GS1 US on the impact of emerging technology on commerce.
"Many transformative ideas are often first created by newcomers and startups," said Melanie Nuce, senior vice president of corporate development at GS1 US. "GS1 US recognized an opportunity to support such innovation at GS1 Connect® and more fully explore the link between GS1 Standards and emerging technology to help solve our members' current and future business challenges. LexSet, Simplista, Locai and all of the competitors are disruptors to watch over the next few years."
The winner of the competition, LexSet, is a CV company specialized in solving the training data problems that frustrate data scientists and limit the potential of CV. LexSet's tools allow for on-demand generation of photorealistic synthetic data customized to any use case, and for the development of vision models from the data they create. Their clients range from retailers to industrial and robotics companies.
Second prize winner, Simplista, was recognized for its ability to accelerate new item onboarding for brands and retailers from months to days, giving them additional time to sell and generate incremental annual gross margin. Third prize winner, Locai, presented their e-commerce solution for the grocery industry inclusive of its unique application, CookIt, which provides personalized recipe and product recommendations powered by AI.
Each year, supply chain and e-commerce professionals from manufacturers, retailers, online marketplaces, healthcare providers, distributors and technology companies attend GS1 Connect, the conference and exhibition hosted by GS1 US, to learn best practices for leveraging GS1 Standards to drive innovation and better understand new opportunities for their business. GS1 Connect 2019 features speakers from more than 125 leading companies, including AmerisourceBergen Corporation, Chick-fil-A, Levi Strauss & Co., Microsoft, Tyson Foods and Walmart, who share strategies for optimizing data and supply chains to meet the dynamic needs of today's consumers.
About GS1 US
GS1 US®, a member of GS1® global, is a not-for-profit information standards organization that facilitates industry collaboration to help improve supply chain visibility and efficiency through the use of GS1 Standards, the most widely used supply chain standards system in the world. Nearly 300,000 businesses in 25 industries rely on GS1 US for trading partner collaboration that optimizes their supply chains, drives cost performance and revenue growth while also enabling regulatory compliance. They achieve these benefits through solutions based on GS1 global unique numbering and identification systems, barcodes, Electronic Product Code-based RFID, data synchronization and electronic information exchange. GS1 US also manages the United Nations Standard Products and Services Code® (UNSPSC®). www.gs1us.org
SOURCE GS1 US