This platform uses blockchain and AI to connect suppliers and buyers within a unified social networking environment for secure transactions. It streamlines the Opportunities-2-Contract (O2C) process by managing supplier readiness, certification tracking, and automated workflows. The system aims to simplify procurement and accelerate contract wins for qualified small and mid-sized businesses.
Funding
Funding not disclosed
Founders
Product
Problem
Minority-, women-, veteran-, and LGBTQ+-owned businesses face significant barriers in accessing corporate and government contracts due to inefficient procurement processes and limited visibility. Fewer than 1% of protected small businesses are certified, hindering their access to equity programs and procurement opportunities.
Solution
inSIDEkonnect is an eProcurement platform that connects diverse suppliers with procurement teams, streamlining the contract process and enhancing contract readiness. The platform leverages blockchain technology, smart contract protocols, and AI-driven deal flow algorithms to centralize access and break down barriers in industry supply chains. By providing a social networking environment and resource hub, inSIDEkonnect simplifies certification processes, facilitates connections with buyers and advocates, and accelerates access to contracts. The platform's O2C (Opportunities-2-Contract) model utilizes a dynamic supplier profile on an integrated social network to connect diverse suppliers with procurement teams, unlocking contract opportunities.
Target Audience
The primary target audience includes minority-, women-, veteran-, and LGBTQ+-owned businesses seeking to access corporate and government contracts, as well as corporate and government buyers looking to diversify their supply chains.
Features
- Blockchain-based platform for secure and transparent eProcurement processes
- AI-driven deal flow algorithms to match diverse suppliers with relevant procurement opportunities
- Integrated social networking features for suppliers and buyers to connect and collaborate
- Streamlined certification guidance to help suppliers navigate complex processes
- Resource hubs providing industry news, guides, templates, and educational tools
- Centralized access to buyers, procurement teams, and industry advocates
- Dynamic supplier profiles showcasing capabilities and certifications
- Secure bid creation and response workflows