The Emolytics (Emotions and Analytics) conquer the heart of Belgian investors
Half a million euros in funding for GetSmily, UCL spin-off
13 NOVEMBER 2014, LOUVAIN-LA-NEUVE, BELGIUM
SummaryAs the result of several years of work in the Computer Vision laboratories of UCL’s Professor Benoit Macq, this technology managed to attract private investors, as well as the Investment Fund VIVES II, who decided together to inject half a million euros in this company. The marketing applications enabled thanks to this UCL technology - unique in the world - will lead GetSmily to conquer the World Wide Web.
To detect and analyse human emotions through websites, this is the GetSmily’s proposal, a new spin-off of the Université catholique de Louvain (UCL). « Counting over a billion websites on the Internet, the need for companies to intensify their connections with target audiences has become crucial. The development of these connections starts with the understanding of these audience’s behaviours and emotions. The emotions are leading us through our daily lives and they guide our actions, more often than we might think», confirms David Frenay, the researcher who has been at the origin of this technology and CTO of this start-up.
As the result of several years of work in the Computer Vision laboratories of UCL’s Professor Benoit Macq, this technology managed to attract private investors, as well as the Investment Fund VIVES II, who decided to inject half a million euros in this company. The marketing applications enabled thanks to this UCL technology - unique in the world - will lead GetSmily to conquer the World Wide Web. « The understanding of human emotions and the levers activating these emotions are a major competitive advantage for today’s marketers. As such, the marketing department takes up again a key role within companies determined to focus on the future », confirms David Hachez, co-founder and CEO of GetSmily.
Launched last September, the spin-off GetSmily provides access to an emotional and innovative performance indicator, called the Emoscore. This new KPI takes into account the Emolytics data (combination of the words « emotions » and « analytics ») and incorporates a unique and scientifically sound algorithm. Available in 14 languages, this technology already seduced plenty of companies, such as Foto.com, Europ Assistance, VOO, The National Lottery, Sherpa, Quick Step, Lampiris, as well as Rossel Advertising.
The Louvain Technology Transfer Office (LTTO) supported GetSmily during two years. « This new spin-off demonstrates the important role of LTTO in assuring the successful technology transfer generated from UCL research. The support of the Walloon Region (DG06), more in particular via the program First Spin-Off and the Proof-Of-Concept Funds, allowed us to turn this project into concrete, leading to splendid development perspectives», says Anne Bovy, Co-director of the LTTO.
The involvement of new investors in GetSmily will enable this company to accelerate its international development and it will help the team to solve the upcoming technical challenges. « To invest in an Internet start-up confirms the ambition of our fund to become a true actor in this booming branch via the support of the development of a UCL spin-off », says Philippe Durieux, CEO of VIVES II.
About VIVES-Louvain Technology Fund and the LTTO;
VIVES – Louvain Technology Fund is a multi-sectorial technology investment fund, investing in spin-offs of the Catholic University of Louvain (UCL) and in start-ups in Belgium and the neighbouring countries. The objective of the fund is to invest in the development of start-ups, from the moment of the technological validation until the product has reached commercial maturity. These funds (VIVES 1 for an amount of EUR 15 million and VIVES 2 for an amount of EUR 43 millions) are being managed by SOPARTEC, the technology transfer company of the Catholic University of Louvain (UCL). www.vivesfund.com
The Louvain Technology Transfer Office (LTTO) composed of SOPARTEC and UCL’s Administration of Research (ADRE), covers the entire technology transfer process: funding of the research contracts, identification of the inventions in the laboratories, protection and management of the intellectual property and the technological maturation and commercialisation (via licences and/or spin-off). More in particular, SOPARTEC coordinates the management of licencing and the evolution towards maturity of UCL’s spin-off projects. Over 60 spin-offs, generating today more than 3.000 jobs, have been created partly or completely based on the result of research, conducted at UCL. These include more in particular names like Ion Beam Application (IBA), IRIS Group, IBT, Telemis, Viridaxis, Promethera, GreenWatt, Keemotion, Iteos Therapeutics, DelfMens, Novadip Biosciences, etc. www.ltto.com
Emolytics is a brand of GetSmily S.A., a spin-off company of the UCL university in Belgium.
Emolytics measures customer experience through the prism of emotion, scientifically, helping businesses make informed decisions that impact results. They are the provider of the Emoscore®, a unique algorithm, used as a customer experience KPI. Thanks to that scientific expertise, Emolytics brings valuable insights to companies based on people's emotions.
The founders :
David Hachez, CEO of Emolytics was the driver behind some other initiatives such as Raz*War, launched in 2009 and taken over by a private investment fund in 2012. The same year, thanks to the facilitation of the LTTO and the Louvain School of Management (LSM), he got acquainted to David Frenay, biomedical civil engineer, master of physics, bachelor of mathematics and physics and International Mathematical Olympiad Medal Winner, who has been at the origin of the detection of emotions. He currently holds the position of CTO.
Check out https://www.emolytics.com for more details.