RateGain Recognized as 2020's Most Innovative Startup at ET Innovation Awards
RateGain, a leading provider of SaaS products for travel and hospitality, has been acknowledged as the Most Innovative Startup at the recently concluded 'ET Innovation Awards 2020'.
The Economic Times Innovation Awards, presented by technology giant SAP and with the support of knowledge partner Bain & Company, seeks to identify and showcase the best innovations driving growth in business, products, technology, and social impact.
RateGain has been recognized by ET innovation awards for its constant focus on leveraging AI to build products that help travel and hospitality companies across the world generate more revenue opportunities.
Before the pandemic hit, RateGain invested in creating two new innovative products. One focused on finding new demand proactively and second, provide the alternate lodging industry with an accurate way of benchmarking competition using Image Recognition coupled with AI.
As the industry marches towards a recovery path from the pandemic, the hospitality segment will look for new demand while the trend of staycations continues to stay healthy; these innovations will play a critical role in helping every player in the industry recover demand and maximize revenue. RateGain’s offering for vacation rentals, VRGain uses image recognition to help vacation rental managers automate the process of identifying new supply, which currently is a manual, inefficient and time-consuming process for vacation rental companies.
Speaking on occasion, Harmeet Singh, CEO, said, "We want to thank the Economic Times, the jurors and the honorable minister for presenting us with this award. It's an honor to be recognized for our innovation, which is core to our foundation as an organization. I also want to recognize my team at RateGain, who made this award a possibility with their creativity and diligence. We are committed to continuing to create and deploy innovative solutions that extend the industry forward in these challenging times."
The recognition adds to a list of other notable accolades RateGain was recognized for in 2020, including the Best Technology Innovator of the Year by HSMAI Europe, as well as by UNWTO for its contribution to helping the hospitality sector get back on its feet through AI-powered technology. The global organization recognized RateGain's Smart distribution technology as a 'Healing for Prosperity' solution that helps accelerate the hospitality industry's recovery amidst the COVID-induced business climate.