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Investors are always searching for the next hot start-up, the next hot technology. Wouldn’t it be great to have a tool that could help identify entire “micro-industries” built around new inventions and the companies that make them? San Francisco-based start-up YouNoodle, which tracks fellow start-ups, has just launched a service that does just that.
The company has come up with an algorithm that helps them analyze relationships between well-funded start-ups and well-established industry players, in terms of investments and partnerships. In addition, YouNoodle will also cluster start-ups according to similar technologies. Combining both of these data sets, YouNoodle creates elegant, colorful maps of related entrepreneurial ventures in constellations that represent an emerging industry. Within these maps, they can also identify a particular start-up that has great promise of becoming a leader.
I asked them to find BusinessWeek such an emerging industry. The goal was to see an example of what YouNoodle could provide to investors looking to discover the next Twitter. So YouNoodle analyzed funding data and media mentions on 50,000 startups. Here’s what they came up with: Location-based social software is an area worth watching. Within that, a company to keep tabs on is Loopt, a Mountain View-based start-up that provides a technology that lets people find and communicate with their friends. It’s available across multiple phones and platforms.
YouNoodle can create and supply such micro-industry maps for investors starting, well, today. They can also write a detailed report on how and why they make the conclusions that they do. Take a look at the cluster created for BusinessWeek here. (And while you're at it, circle back to a list of 50 start-ups you should know, that YouNoodle created with BusinessWeek recently as well).
What comes next? The Bloomberg Businessweek Innovation and Design blog chronicles new tools for creativity and collaboration, innovation case studies in both the corporate and social sectors, and the new ideas that have the power to change the way things have always been done.