capito wins the European Innovation Accelerator
Styrian social business on its way to the digital top league
The EU has developed the EIC Accelerator funding to ensure that pioneering developments in the digital world have a chance of global success not only in America, but also in Europe. capito was the first Styrian company to make it through the selection process into the league of Europe’s best digital start-ups.
Every successful company starts with a seemingly unrealistic vision for a tricky problem. Almost everyone is familiar with the problem that capito deals with: communication from public authorities or companies that you barely understand. For highly educated people this is annoying to say the least, for people with poor language skills it is often an insurmountable hurdle and the reason for many bad decisions. According to the World Literacy Foundation, information that is difficult to understand costs us 1.2 trillion dollars worldwide every year. So what is the capito vision? A world in which everyone can understand any information because the level of complexity of the message automatically adapts to the individual skills of the user. A world in which everyone has the opportunity to make well-informed decisions for their lives and for society because they can understand content from reputable sources.
This vision is no longer so unrealistic. Because capito combines 20 years of experience in providing comprehensible information with today’s artificial intelligence training options.
For 20 years, capito has been making complex information understandable for everyone and has become the market leader in the German-speaking world with its high-quality services. More and more companies, authorities and news agencies are recognizing how they can save costs and reach more customers through better comprehensibility.
“The EIC funding enables us to take two very important development steps,” says a delighted Walburga Fröhlich, CEO at capito. “On the one hand, we can now further develop capito’s automated simplification software and the artificial intelligence behind it at full speed; on the other hand, we will also be able to offer our digital services in English, Spanish and French in the future, helping more than 100 million people worldwide to understand important information.”
capito’s innovation can be integrated into any digital application as ‘software as a service’. The fully automated language simplification will be on the market in two years. For all those who already want to write more comprehensibly, capito digital is an automated writing aid that can already access data from over 6,000 capito projects and reliably assesses the comprehensibility of texts.
We are now looking forward to launching the largest project in our company’s history with the EIC Accelerator!
What is the EIC Accelerator?
The EIC Accelerator – EIC stands for European Innovation Council – is Europe’s answer to the dominance of America and China in the digital world. In the last round of applications, more than 2,000 companies applied with their innovations for a total of 627 million in funding, only 99 of which were able to meet the strict funding criteria. capito will receive the entire requested funding of 1.72 million euros from the EIC in order to achieve the breakthrough at international level. The Austrian Ministry of Social Affairs, the Austria Wirtschaftsservice Gesellschaft (AWS), the Steirische Wirtschaftsförderungsgesellschaft (SFG) and the Austrian Research Promotion Agency (FFG) have supported capito’s development to this point.
