DENVER, Colo.— Denver-based data technology company Fluent has contracted with Virginia’s Center for Innovative Technology (CIT) to build a Fluency Score data set that objectively measures the traction and momentum of Virginia-based technology startups that are working with a program in Virginia’s network of startup accelerators.
“By leveraging Fluency Scores across Virginia’s network of startup accelerators and other entrepreneurial support organizations, we are better positioned to measure the impact of these programs over time,” said Sean Mallon, CIT’s VP of Entrepreneurial Ecosystems.
Fluent’s flagship product, the Fluency Score, works like a FICO Score for startups. Fluency Scores offer founders, investors, and advisors objective information about startups, better positioning these companies for revenue generation, scalability, and access to capital.
Fluent CEO Beth McKeon said, “Virginia, through CIT’s vision and leadership, is paving the way for a future of networked and sophisticated data that helps more startups succeed and more entrepreneurial support organizations achieve their mission.”
Fluent has fielded interest from organizations in many states looking for a standardized, third-party metric that can provide and network data on early-stage companies.
Organizations serving as the “hub” of such networks, such as CIT in Virginia, can use Fluency Score data
- as a common language to track individual company progress and growth,
- to report on organization and program impact immediately,
- to efficiently match capital and resources to companies based on business needs and organizations’ strengths, and
- to advocate for continued or additional funding based on real-time data.
All of these benefits help support entrepreneurs where they live, keeping talent “at home” for these regional networks.
CIT (cit.org) accelerates next-generation technologies and technology companies through commercialization, capital formation, and market development initiatives.
Fluent’s cutting-edge analytical tool the Fluency Score (FluencyScore.com) uses qualitative data and a complex algorithm to deliver an objective report and actionable analysis to innovation stakeholders, creating the first standardized measure of product-market fit that captures the majority of risk in early-stage companies.