Machine learning API company, BigML, and Telef?nica Open Future, the telecom’s global entrepreneurship and innovation network, have partnered to build an algorithm that helps venture capitalists decide which startups to invest in. This is a world first, according to the companies, which will test their new algorithm through a startup battle event series. Startups working in the predictive analytics space that are looking for early stage investment will be able to participate in competitions as part of the PAPIs CONNECT events and PAPIs conferences. The new machine learning algorithm will automatically select the startup contestants and decide on a winner that’s best for one of the Telef?nica Open Future funds to invest in. The idea behind having a machine decide which startup to invest in is to avoid any human bias that goes into investment decisions and test whether an algorithm could make smarter investment decisions, BigML said. In related news, BigML last month acquired a software tool from Australian company, G.I. Webb and Associates. The Magnum Opus software uses k-optimal (top-k) association discovery, meaning finding items in the data that are associated with one another. Geoff Webb, originally a research professor from Monash University, who developed the software, is now BigML’s technical advisor.
Telefonica Open Future has partnered with machine learning company BigML to create , what they believe is the company 's first algorithm to help venture capitalists decide which startups to invest in . BigML recently acquired a software tool that uses k - factor association discovery . The two plan to test the algorithm through a startup driven event simulation .