TextMine Wins highly competitive Women in Innovation Award

Funds Secured

TextMine has secured £75,000 from Innovate UK as part of the Women in Innovation Award 2024/25 to develop an AI-powered platform that unlocks the value of unstructured data in multiple languages.

Introduction to TextMine

TextMine is transforming how companies use their unstructured data, such as contracts, invoices and legal documents, to make decisions. Their patented technology, using LLMs and ML, retrieves and contextualises key terms, helping clients answer queries 100x faster while saving employees up to 40 hours a month. The secured funding will allow TextMine to extend this capability to non-English documents.

Goal

The project aims to enhance TextMine’s platform by enabling it to process multi-lingual data, initially focusing on Mandarin, the second-most spoken business language globally. 

Why They Chose GrantUp

TextMine chose GrantUp to work with them on securing the Women in Innovation Award due to our proven track record in securing funding from IUK competitions. GrantUp’s expertise in navigating the complexities of the grant application process was instrumental in TextMines successful funding acquisition. 

Challenge

Global companies often struggle to manage and utilise the 80% of their data that is unstructured, particularly when this information is stored in multiple languages. Current LLMs do not fully support the processing of documents in other languages, leaving businesses vulnerable to missed risks and uninformed decisions. 

Solution

TextMine’s enhanced platform will combine LLM technology with advanced translation models, enabling users to query their documents in English and receive insights from non-English data. 

Opportunity

TextMine’s multilingual capability opens up vast new opportunities for global enterprises, particularly those operating in sectors with high volumes of non-English documentation. 

Results

With Innovate UK’s support, TextMine expects to significantly improve its multilingual platform, starting with Mandarin and later expanding to other languages such as Japanese, Korean, and Spanish.