Company Performance Metrics
- Eliud Luutsa: CEO & Co-Founder
Innobid is a tech startup that provides tech-for-good solutions that include disenfranchised groups especially women and youth into the national and global commerce and finance systems by leveraging innovative technology. Our pioneer solution is an e-procurement system that leverages AI to boost efficiency and transparency in procurement. The
system is on a mission to address procurement disparities that affect women and youth entrepreneurs through process simplification, providing relevant information and access to capital as well as fostering fairness and transparency with the aim of creating pathways for more equitable distribution of government, global development and private sector contracts.
The AI-enabled system helps procurement officials to be more efficient and fairer by leveraging the in-built Agentic AI analysis that conducts a basic criteria analysis, a legal compliance analysis, a risk assessment analysis, a comparative analysis to pick the best bid from those submitted then awards with recommendations. This analysis of all tender documents submitted happens in a record time providing the procurement team with key insights and recommendations for decision-making.
The platform also incorporates citizens in monitoring the procurement process to foster a culture of accountability, transparency and trust. Citizens can view the outcome of the AI analysis and report any irregularities. This system can be used by organizations of all sizes from diverse sectors including local governments, not-for-profit organizations and private sector businesses.