Genial Technology, the developer of an AI audit tool Genial AI, has been selected by the Japan External Trade Organization (JETRO), to join a B2B, enterprise-focused acceleration program run by the U.S.-based Alchemist Accelerator, LLC as a course of the Global Startup Acceleration Program (GSAP).
Global Startup Acceleration Program (GSAP) is an overseas support program for Japanese startups organized by JETRO in cooperation with the Cabinet Office and METI. In this program, world-class accelerators affiliated with JETRO offer six courses. Through the programs implemented for each selected course, participating companies aim to develop global markets and networks. Genial Technology will participate in the Enterprise course of GSAP 2023.
* Since 2023, the Startup City Acceleration Program (SCAP) has been renamed the Global Startup Acceleration Program (GSAP).
AlchemistX is a government program in cooperation with Alchemist Accelerator, one of the top accelerators in the U.S. that supports early-stage B2B and enterprise technology startups to expand their business in the North American market and explore investment opportunities. The program is an extension of Alchemist Accelerator's core curriculum, network to the startup ecosystem, and innovation hubs around the world.
■About Enterprise Business (B2B) Courses
This is an online-based program conducted by Alchemist Accelerator, a globally acclaimed company specializing in enterprise startup support and investment.
The program consists of two phases: a 12-week Phase 1 (customer development) and an 8-week Phase 2 (customer validation).
Through the program, Genial Technology will receive assistance in developing market entry strategies for global expansion as well as promotional activities, and will actively propel global market development and international network building.
Until now, Genial Technology has focused on developing its business in the audit and enterprise markets in Japan. However, it will leverage the knowledge and network expected to gain through this acceleration program to prepare for expansion into the US. Specifically, through online interviews with experienced U.S. audit professionals, it will gather information on best practices and how U.S. accounting firms operate their digital tools in order to strive for success in the global marketplace.
Genial Technology, while based in Japan, will make every effort to enhance its corporate value with the aim of increasing its presence in the global market and establishing itself as a global SaaS company.
■About Genial Technology
Genial Technology offers Genial AI, a self-learning audit tool that automates vouching, with the mission of "AI for the more effective auditing" to reduce the burden on the auditors and allow them to focus on tasks that require human ingenuity and judgement.
While there has been some progress in the development of tools to improve operational efficiency in the audit through the use of technology, the majority of these tools currently rely only on visual checks.
Genial Technology is developing an Excel add-in product called "GenialAI" that will greatly automate audit operations, based on a major review of the functions of the existing product, "Genial AI for Web.