Smart Index
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Smart Index is a composite scoring system that de-risks complex decisions and enables actions supported by artificial intelligence. It has infinite applications, they range from evaluating investments, to startups, products, services, and more. Best of all, it allows teams and groups to collaborate, and integrate their inputs into one unified metric. This reduces the risk of myopic thinking, and over-bearing individual biases.  

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Source Material

This App was created by modifying a standard Viewpoint 360 template. The base template includes Applets for App administration, online forms for collecting and editing data, and standard templates for team-based assessment, scoring and ranking. 

The scoring system used was developed by Rai Chowdhary.

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Example:

Imagine a group of investors is conducting due diligence on multiple startups. The dimensions of evaluation could be systemic business risk, technology risk, financial performance, leadership / management team, operations risk, regulatory / approval status, manufacturing scale up, supply chain, etc. In the traditional approach – everyone evaluates the startups on their own and creates a summary write up with their observations. A dialog ensues; there is some debate and clarifications, followed by investment decisions being made. The startup that “appears” the most promising wins.

The level of subjectivity in this approach remains rather high due to the number of parameters, and their levels that need to be processed by interpreting text based information – by each individual; complicating matters further is the fact that the question set might not be the same for different startups.  

With Smart-Index, a standard set of questions is made available for evaluating the startup in each of the dimensions. A scoring system can be used (with equal or differential weightages to account for the importance of the dimensions and experience of the evaluators).  This exercise culminates in a single metric that provides an indication of the risk level of the investment on a scale of 10 (very low risk) to 1000 (most risky). A report also provides information on the evaluations and scores assigned by each investor in the group. This increases transparency and enables collaborative dialog within the group so they can be on the same page – further building trust within the group.  

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