Hyderabad, India | Jakarta, Indonesia | 5th May 2020: The onset of the COVID-19 pandemic has forced business owners and entrepreneurs to re-examine their business continuity plans. Orbit Future Academy, in partnership with Cultus has created CoRe, the world’s first COVID-19 Readiness & Business Impact Assessment Tool.
CoRe uses powerful algorithmic tools to allow an individual to assess the impact of COVID-19 on their business. It analyses twenty-eight factors that are impacting businesses in these times along with the answers provided by the user to formulate a quantified impact score between 0 and 99. A low score indicates future difficulties for a company, whereas a high score not only suggests that the company is healthy, but also indicates that there exist potential opportunities for growth.
This Indian-Indonesian venture provides businesses with an analytical basis to assess and formulate business plans and long-term strategy for the post-COVID world. Moreover, the tool generates the report within 4 hours of submission of answers by the user and the tool is reasonably priced at US$9.45. The time a user spends is less than thirty minutes. The report comes with an explanation provided by industry leaders and offers possible scenarios for your business to help it encounter potential challenges.
Dr. Ing Ilham A Habibie, who is analyzing the socio-political impact of COVID-19 stated, “With great economic uncertainty engulfing businesses around the world including Indonesia, entrepreneurs and business owners need new tools to navigate their way our of the COVID-19 pandemic. Technology can be an enabler for businesses to survive the current downturn and prepare for the post-COVID-19 environment.”
Nalin Kumar Singh who led the project explains: “The tool provides business owners an understanding of the severity of the impact to their business, whether positive or negative and provides business owners the baseline from which to get a headstart in planning for the post-COVID world.” The online tool is available at multiple platforms including the primary website www.orbitfutureready.com.
The technical architect, Sunil Girdhar elaborates on the challenges in building the assessment tool, “It was not about just giving a score. There are so many factors that are impacting businesses individually and in combination depending on where the business is located, where their clients are, their cash position, the industry they are in, the supply chain disruption and so on. The tool appears as a simple thirty minute questionnaire at the front-end but the complexity of the algorithm is immense.”
Sachin V Gopalan, who helped build the strategic outreach plan for the tool stated that, “We will use this tool to assess not only over 10,000 existing companies and start-ups in our and partner ecosystems, but also the 3,500 new Post-COVID start-ups that we have been asked to incubate, train and mentor over the next 3 years. We are working closely with several Indonesian Government agencies and Universities to mitigate the effects of a post-COVID world by creating new jobs and start-ups at a grassroot level. The aim is to bring in technology based innovations, build local supply chains solutions and kickstart the process of value creation and money flow at a village level.”
CoRe aims to start as a quick assessment tool but will eventually use elaborate AI algorithms to suggest and recommend new approaches and directions based on data emerging from the collective wisdom and action of companies, entrepreneurs and innovators who are responding in myriad ways to the business impact of COVID-19.
Orbit Future Academy has been founded with the aim of improving the quality of life through innovation, education and skills training. The Orbit brand is a continuation to the legacy of the Late Dr. Hasri Ainun Habibie and the Late Prof. Dr. Ing. B J Habibie, 3rd president of the Republic of Indonesia. They both have been a moving force in supporting the development of Education, Innovation and Technology in Indonesia.
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