Brief 3: Decision Quality

Area of interest

Decision quality

Themes

Data driven decisions, using data to drive innovation, data partnerships, evidence-based plans, data sharing agreements, governance, problem definition, decision analysis, knowledge distribution, ethical decision-making, tools for decision-making, decision-making and uncertainty, decision-making and risk, the value of time, the value of data, confidence, collaboration and communication, machine learning, artificial intelligence, bias in decision-making,

Brief

To create tools, methodologies, workflows, frameworks and resources that have a significant, positive impact on decision quality for individuals and all types of organisation.

The Problem

The lack of simple aids to decision quality and the constraints to enlarging participation of those affected by a decision mean that resources are used less effectively than they could be. Many decision-making processes (for example, procurement and purchasing processes, budgeting, voting) lead to poor quality decisions due to lack of data, lack of feedback loops – including audits, lack of commitment to action and waste.

Type of Ventures

If you have (or are working on) a solution in this space we’d love to hear from you. We believe that big challenges like this are solved though collaboration and partnership; and there is value in contributing clear thinking and working with others towards a common goal. What we are looking for is:

  • Platforms for decision-making
  • Services to audit decision quality
  • Software for supporting decision quality
  • Capture and replication of expert decision-making, eg chat bots
  • Methods for evaluating and benchmarking the outcomes of decisions
  • Services that educate, train and support quality decision making.

Initial Evaluation Criteria

The initial criteria we will use for establishing if your venture is a good fit for the brief is about the potential disruption your venture could create. For example: Does you venture fundamentally change the way resources are used?

To measure disruption we assess the following questions:

  1. What is the probability that this is highly disruptive?
  2. What is the size of the impact expected?
  3. What is the length of time required to create the disruption?
  4. How much money is required to create the impact?
  5. What are the barriers to creating the desired change?
  6. How long will the impact last once its achieved?

Target Markets

Example target markets which would benefit from solutions in this theme include: Government, Industry, Charities, Healthcare, Consumers, Financial services

Applications

Ventures may apply at any given time during the Application stage. Applications that are received after the cut off date of midnight on 31 March 2019 (GMT) will be considered for the 2019 Cohort 2 activity scheduled for the second half of the year. Please see the full timetable.

Applications may be submitted by completing the following application form, or by emailing us on: applications@genesys-vc.com.

What’s on Offer?

Genesys provides Ventures with an 21 month incubation programme including matching to investors.

Investments of £150,000 for 10-15% equity are typically made in stages throughout the programme.

(Learn more)

Discussion & Clarification

If you have any points that you would like to clarify, or if you would like to ask a question about this brief please do so in the comments section below.

Similarly, please can we encourage anyone reading this brief to contribute your thoughts and knowledge on this topic. Specifically, if you have come across good thinking, research, or innovative products in this area then please will you be kind enough to post a link into the comments below. This will help everyone involved to develop an understanding of where the ‘edges’ of this growing area are. Thank you…

 

0 Comments

Add to the Discussion...

©2019 Genesys.

Log in with your credentials

Forgot your details?