Scottish foothold in $23bn market
Nooq ‘takes big step’ with US university partnership
It will give the Glasgow-based company a greater presence in a global social collaboration market expected to be worth $23 billion within the next two years.
NooQ has developed software designed to prioritise a user’s tasks and help them solve the problem of information overload.
It will work with Purdue’s “Strategic Doing” discipline which helps participants manage complex collaborations quickly, move them toward measurable outcomes, and make adjustments along the way, as they learn what works.
Nooq will offer the Indiana university and its commercial partners a new way of commercialising research and the opportunity to raise revenue for clients such as NASA, Lockheed Martin and Lily.
It is in discussions with a number of universities in the UK interested in adopting its product and it plans further expansion overseas.
Ed Morrison (pictured with Graeme Bodys, right), director of Purdue Agile Strategy Lab, said: “We have been evaluating other platforms for years but nothing comes close to what we can do with nooQ, so we are very excited about what’s ahead.
“The nooQ platform provides a powerful addition to our portfolio as we now have the opportunity to use nooQ’s innovation platform with 50 other universities in our network which can create revenue opportunities with their commercial partners.
“For an ever-moving landscape it cracks the communication problem of keeping everyone informed. Combining nooQ & Strategic Doing can make implementing complex strategic initiatives radically faster. From years and months to weeks and days.”
NooQ has won several product awards, most recently beating IBM Connections, Atlassian and MangoApps for ‘Coolest Tool’ and ‘Coolest Feature’ at SocialNow 2016.
A partnership with IBM will apply nooQ’s intelligent, machine learning algorithms and visualisation to existing IBM Connections data.
Nooq chief executive Graeme Bodys, who founded the company five years ago, received £32,000 from Scottish EDGE.
He aims to launch its mobile app before the end of the year and is embarking on its next funding round to grow the team, including additions to the sales and marketing function, and building its international client base.
He said: “We want to become one of Scotland’s leading software companies with a large presence in the US and Europe.
“We want to take on the big guys at Google, IBM and Microsoft.
“There are lots of innovation methods out there, but typically it get very challenging to manage all the brainstorming activity once everyone has left the room.
“With Purdue, we can take this way further. We are really excited by the potential of the Purdue partnership which can be used by any university or corporate innovation project. Our deal with Purdue is one big step in the right direction.”