Founders of Hungarian startup HubScience aim to revolutionize what they see as the “globally obsolete scientific community,” by creating what they expect to become the most efficient tool for processing scientific literature in a way that will save a “huge amount of time and funds for researchers,” according to a press statement sent to the Budapest Business Journal today.
The Budapest-based team claims that while the business world is becoming more familiar with big data, gathering and processing information in the scientific environment is still rooted in the 20th century. They claim that almost 4,000 publications are written on a daily basis and 2.5 million scientific journals issued annually. This means that the amount of scientific information doubles every nine years.
HubScience is a platform that the creators say fits completely into the traditional research processes, locating and organizing relevant information in previously constructed texts and articles.
The software can be taught to reveal hidden connections between separate data, to provide the opportunity to create unique, optimal databases, the creators explain. HubScience’s main goal is to become the next operator to determine the growing market in scientific information.
“The funding, as well as the time spent on R&D projects, is not infinite, unfortunately. If we save time on gathering and processing information, we might be able to concentrate on other similarly important phases to make innovation faster and cheaper. This is the point where we discovered a promising business opportunity,” says Péter Oszkó, representative of Power Angels, a business angel network that has been supporting the project since 2016.
Parallel to its international expansion, HubScience is building a group of supporters from among acknowledged biomedical and pharmaceutical experts, who can later provide a strong base of professional users and validate the first databases created on hubscience.com.