WÜRZBURG, Germany and WASHINGTON, Aug. 27, 2019 /PRNewswire/ -- scoutbee, a strategic sourcing technology innovator who offers its smarter supplier discovery suite, announces it was selected as one of just a few participants in the German Accelerator program, which is supported by the German Federal Ministry for Economic Affairs and Energy.
German Accelerator empowers German startups to scale globally. Its programs take high potential companies on a fast-paced expansion journey in the world's leading innovation hubs - San Francisco, Silicon Valley, New York, Boston, and Singapore. German Accelerator provides mentoring from dedicated experts, access to a vast global network of business partners and investors, as well as free office space. The programs are highly customized to the participants' individual needs in order to help them enter international markets and succeed quickly. Since launching in 2012, German Accelerator has nurtured over 220 startups which have raised more than US$2.5 billion in funding so far.
"We began US operations in January of this year," said Lee Galbraith managing director and co-founder of scoutbee. "We are seeing strong reception globally to our value proposition along with a big desire to apply artificial intelligence (AI) to the manual, tedious guesswork in strategic sourcing. We are grateful for this partnership and opportunity to accelerate growth and more procurement leaders now also in the US."
scoutbee plans to open and to announce its new Silicon Valley office, made possible by this program, in October of this year. Its focus will be to inspire high-tech manufacturers to disrupt the traditional discover or scout-to-source process to realize faster time to market and returns on the investment in procurement AI.
scoutbee's AI-powered supplier discovery suite helps procurement leaders see deep supplier insights to make more confident buying decisions. With scoutbee, purchasers face less tedious, manual work to fulfill strategic sourcing projects and scout suppliers globally. Procurement leaders can discover new paths to drive profit and impact from faster time to market and reduced costs. Customers like Audi, Airbus and Bosch trust scoutbee to gain deeper supplier insights and to simplify and digitize their complex supplier scouting process.