AlgoQuest System is now owned by Celinvest

Back in 2010, Elie Ouzi Koskas had already spent several years conceiving the database engine that would then become the core of the technology. Yet, at this moment, the technology was efficient but not mature enough to be marketed directly to customers. This is the reason why it was decided to create the company AlgoQuest System SA, to finance the development of the tool, and to market it and sell it to potential customers.

The technology is built around two main parts: the engine (called AlgoQuest Engine) and the tools (called AlgoQuest Tools). Roughly speaking, the Engine is the part where all calculations happen, and in which queries are handled. The Tools is the user interface of the system, allowing all interactions with the Engine: adding a new database, submitting new queries, updating content, collecting answers from the Engine, and making them readable for the end-user.

The main logic behind the Engine, and the key invention from Elie Ouzi Koskas, is a new way of managing data through a new approach of mathematics: the Engine only manages unique iterations of the data in databases, allowing to avoid repetitions in the calculation while still taking them into account for the final result. As a consequence, the Engine proves itself to be extremely efficient and creates a huge difference with standard database management systems for the management of combinatorial queries with high volumetry, answering SQL queries much faster, with 100% accuracy and no statistical approximation.

This engine relies on a fully new mathematical approach to be so efficient. Because it was built from the ground up with this new approach, many constraints known by all other database management systems (such as data indexing for instance) are not relevant anymore with this solution, making it much more agile and efficient.

Since 2010, Celinvest has been by very far the main financial support for AlgoQuest System (a few other minor investors joined the project as well, yet all other financial efforts cumulated did not equal what Celinvest injected in the technology). Yet, after over 9 years of financing for all the teams to develop the platform, no client purchased any license of the solution.

This is the reason why in July 2019, Celinvest decided to involve one of its founders with deeper technical knowledge as a trusted expert to not only audit the solution, but also review with the teams the development strategy and overall the organization of the company. After a few months of using the solution, confronting it in real market situations, and understanding the potential and limitations of the tool, he came to a question-raising conclusion. The Engine was indeed extremely powerful, yet is lacking so many necessary functions provided by all major actors today on the market (AWS, Oracle, Microsoft just to name a few) that it would take over another 10 years of development just to get closer to the “must-have” features that these solutions are providing today.

As powerful as the solution was at this moment, its true added-value did not compensate for the missing capabilities that were required by potential clients.

This is how we concluded in early 2020 that the way of auto-financing and self-developing the company was not a reliable way to go, and another path was needed.

Celinvest, as the primary financial investor of the company, suggested that the way to further develop the technology would be through a partnership with one of the major actors of the market. Such a partnership would have allowed the AlgoQuest System technology to get access to much larger capabilities, and then develop all the missing features quickly by leveraging the already existing technologies of such a partner. Yet, the discussion on this topic led to a disagreement with the technology inventor and blocked all the development opportunities for the company.

Following this, it was decided that Celinvest would not finance anymore a strategy we did not believe in; yet our investments in the technology remained fully valid. After a few months, it was then decided that AlgoQuest System SA would be liquidated, and following legal procedure Celinvest SA legally bought all assets of the company including the technology, all intellectual properties attached, and all applications of the technology (existing and future) that Elie Ouzi Koskas fully sold to the company. Consequently, all potential future developments of this technology are Celinvest’s property.