We ran Launching Next's 20,000+ startups through a recurrent neural network. Now we have a startup name generator that creates new startup names based on actual startup names!
Let's generate a new startup name:
"Long short-term memory" is an artificial intelligence concept that allows neural networks to think more like us. We don't just start thinking from scratch every second. We understand every word we hear or read based on our understanding of previous words. Neural networks don't have a state of persistence like we do, but recurrent neural networks do.
Recurrent neural networks suffer from one shortcoming though. They don't have the ability to pick up on dependencies of when words or letters may follow each other in a particular order. Luckily, LSTMs are a specific kind of recurrent networks that exceed in this area.
Using an LSTM through TensorFlow, along with input from 20,000+ Launching Next startup submissions, we created a startup name generator that suggests natural sounding startup names. And if you ever see a startup name that may not make much sense to you, remember that often brandable names don't. Like, VRBO, Hulu, Envato, Elementor and Theranos, just to name a few.
A startup name generator is only the first step in naming a startup. Remember these tips too:
If your business is a project management tool, the name "Project Management" will tell people what you're selling but it'll come off as impersonal and cold. That's not how you want your business to appear to potential customers, is it? A title along the lines of "Planned" will negate any feelings of harshness. That name isn't the best one but it is a step in the right direction.
This seems like Marketing 101 yet it does need to be stated. The people who are your potential customers need to know what they're going to get. Calling your business "Harvey's" won't inform anyone. It seems a lot more personal than just "Restaurant" but the people looking for a restaurant won't know what "Harvey's" is.
Keeping in mind that the name of your business should remain engaging, you need to make sure the name accurately and clearly conveys what you're offering. If the 'average Joe' can't tell what you're selling, your business needs a new name.
In the example we're using here, "Harvey's Italian Restaurant" would fit perfectly. The name is engaging and informs customers as to what's being sold. The name is just an example and is only meant to convey the general direction you should head, which is why it's not an earth shattering great name.
If your business is selling product, customers may not have funds ready when they come across your website. If your business is offering a service, customers may not need your service when they find your shop. Due to this, you need to ensure your business has a strong name that will stick with anyone who hears or sees it. In addition, it needs to be unique.
If customers attempt to search for your business on the internet and can't find it due to other items with the same name, you've just lost money. A startup name generator is an easy way to pull together a few suggestions.