- NOWG signs MOU creating a strategic business partnership that will deliver value in India’s growing CSR market
- India has made CSR obligatory, requiring top companies that meet specific requirements to spend 2% of their normal net benefits on CSR initiatives annually
- The company announces the creation of the Nowigence Independent Growth Council
As evidence of its continued commitment to and progress toward becoming a gamechanger in the global data gathering and analysis space, Nowigence (OTCQB: NOWG) has made two key announcements. First, Nowigence signed a memorandum of understanding (“MOU”) with India-based EquiPPP Social Impact Technologies Ltd. (https://nnw.fm/FB0vk). Second, Nowigence has formed an independent growth council to advise, strategize and assist with delivery of its growth plan (https://nnw.fm/tSBwp).
The MOU is designed to create a strategic business partnership in which EquiPPP will “act as a business development partner promoting Nowigence products in India and tailoring its core machine learning and natural language processing engine to develop information technology (‘IT’) and ITeSaaS (information technology enabled software as a service) products for corporate social responsibility (‘CSR’) activities, granting EquiPPP exclusive marketing rights for those CSR products in India,” Nowigence explained. EquiPPP is a publicly listed company that provides software services, is engaged in IT and ITeSaas, and offers a digital platform enabling various stakeholders to collaborate in implementing CSR projects.
“We are happy to partner with EquiPPP to deliver value in the growing CSR market while benefiting society at large,” said Nowigence CEO Anoop Bhatia. “We are excited to jointly bring technology into the social programs space. Together, we hope to make a significant difference in our collective social responsibility, connecting donors and service organizations to improve the lives of the underprivileged.”
India has made CSR obligatory, requiring top companies that meet specific requirements —annual revenues of more than $140 million, assets of more than $70 million or net benefits exceeding $700,000 — to spend 2% of their normal net benefits on CSR initiatives annually. This creates an ideal entry point for Nowigence, which has demonstrated expertise in artificial intelligence (“AI”), machine learning (“ML”) and natural language processing (“NLP”). As evidence of this expertise, NOWG has created Pluaris, a cutting-edge intelligent reader that mimics in real time the human process for knowledge assimilation while conducting a smart search.
In addition, Nowigence announced the creation of the Nowigence Independent Growth Council, a group of industry experts with impressive experience in building successful tech companies. Members of the new council include Michael Connolly, Rohit Kumar, Tinsley Galyean, Girdhar Gopal Das, Gordon (Gordy) Haupt, Uday Bawa, David L. Evans, Tracy Metzger, Ian Moore and Anoop Bhatia.
“We are shifting gears in our growth journey,” said Bhatia. “The announcement of the growth council aims to provide co-benefits to our customers with value-driven innovation in the fields of machine learning and natural language processing.”
Nowigence is an innovative software as a service (“SaaS”) company, focused on developing and bringing to market Pluaris, its comprehensive, ready-to-use artificial intelligence platform. By integrating state-of-the-art data-processing techniques in an intuitive interface at an affordable subscription price, Pluaris puts the power of data science into the hands of consumers.
For more information, visit the company’s website at www.Nowigence.com.
NOTE TO INVESTORS: The latest news and updates relating to NOWG are available in the company’s newsroom at https://nnw.fm/NOWG
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