July 6, 2016 – Ann Arbor, MI. – The Inovo Group LLC (Inovo) of Ann Arbor, MI announces a partnership agreement with Growth Science of Lake Oswego, OR. With this agreement Inovo now offers companies enhanced opportunity and portfolio evaluation capabilities based on Growth Science’s advanced tools for accurately predicting the probability of success of new-to-the-world opportunities.
“Our parnership with Growth Science will allow us to add advanced analytic prediction capability to our current opportunity discovery, validation and incubation offerings.” states Larry Schmitt, co-Founder and Managing Partner of Inovo. “This agreement will allow Growth Science to continue to develop their advanced analytic technology and tools and Inovo to provide service and support to companies that are looking to improve their innovation capabilities.”
The Growth Science analytic simulation engine can take any opportunity being considered by a company, no matter what its stage of development, and predict its probability of success or failure with approximately 70% accuracy. In addition it will identify the reasons for predicted failure and indicate ways to shape the opportunity to improve its chance for success. It does this using predictive analytics based on thousands of examples of successful and failed product and service offerings.
“We are excited to have Inovo as a partner who can use our predictive analytics engine to help companies improve the success of identifying and pursuing strategic opportunities” said Thomas Thurston, Founder and CEO of Growth Science. “Inovo adds a ‘front-end’ service component to the Growth Science offering that will expand our reach and allow Growth Science to concentrate on the core technology that drives the analytics.”
Inovo will provide individual opportunity analysis, portfolio analysis and an on-going assessment service in addition to utilizing the Growth Science engine across its suite of strategic innovation services.
Growth Science was founded in 2008 by Thomas Thurston as a data science firm. They use data, technology and math to improve the statistical results of internal growth portfolios.
The Inovo Group was founded in 2001 as an innovation consulting firm helping technology-driven companies succeed at strategic innovation. They work collaboratively with clients to create surprising and transformative innovations that use technology for differentiation and competitive advantage. Clients use Inovo’s proven innovation process to discover and pursue opportunities, gain new competencies and transform business models, organizations and cultures.