Tag: #sixtysecondstartup

In this week’s #SixtySecondStartup, we spoke to Will Ross who is the Founder of Tendo, a skills passport for frontline workers. Will started Tendo to make frontline work more secure for employees and to make it easier for companies to hire, retain and train their workforce.

Our interview with Will:

What does your company do?

Tendo allows frontline workers to generate workplace credentials while they do their jobs, building a verified, portable history of skills and hours at the end of each week.

Why did you set up this company?

We started Tendo to make frontline work more certain. For the worker, this means improving their long-term economic security. For the business, certainty comes through having a loyal, dependable workforce and an ability to encourage employees to learn new skills.

What is your business model?

We bill businesses on a per user basis. This monthly charge is a way to offset the cost of workforce churn.

We think that there’s growth in this sector because: 

Frontline workers remain offline. By bringing them online, visibility of supply provides a major step forwards. We also consider this workforce to contain a massive amount of untapped operational and creative potential – we aim to empower.

How did you get your first customer?

By building a feature that removed an administrative overhead for a training provider.

We knew we were onto something when:

When employees indicated that they would be motivated by having a trusted way to generate and retain a record of their work reputation.

Our most effective marketing channel has been: 

Going to events where we can speak directly with decision makers.

The biggest mistake that I’ve made is: 

Spending time marketing to cities where Tendo can’t have a repeatable physical presence.

What we look for when recruiting: 

A willingness to experiment and an inclination to speak more in terms of immediate actions than long-term plans.

We worked with AIN because:

Angel Investment Network provide a clear way to signal company type to a list of investors, ensuring that angels can search for early stage companies where they can significantly influence growth.

Get started today and view pitches from a huge range of entrepreneurs around the world.

This month our sixty second interview is with Firdaus Mogul, Founder of Check An Invoice. Check An Invoice uses AI and machine learning to identify invoice fraud. Firdaus set up this business after one of his friends was a victim of invoice fraud and he realised that there were no products addressing this problem.

Our interview with Firdaus:

What does your company do?

We identify and prevent invoice fraud using the latest advances in artificial intelligence and machine learning.

Why did you set up this company?

When I ran my own B2B payment business, which I sold in June 2019, many of our customers spoke about instances of invoice fraud. On researching, we could not find any companies that offered solutions to this problem. So we decided to launch our own SaaS application that addresses the needs of both small and large businesses.

We knew we were onto something when:

Every prospect we met and investor we spoke to started complementing our market positioning and how the product is addressing an unsolved need.

How did you get your first customer?

Like all startups, our first customer was an acquaintance, who found the solution very helpful for his business as it reduced the manual workload of checking the invoices

Our most effective marketing channel has been:

Forming partnerships with accountancy firms, FinTechs and banks. These partners then offer our solution to small and large companies as a value added service on top of what they already offer.

The biggest mistake that I’ve made is: 

Assuming that there was already a good understanding of invoice fraud among SMEs. Although our research suggested that over 50% of SMEs are affected invoice fraud, when we went out and spoke to people, we discovered that awareness levels were relatively low.

We think that there’s growth in this sector because: 

Invoice fraud results in over $26bn of losses worldwide (Source FBI) yet, there are very few solutions which address this issue. Our platform operates globally giving us the ideal first mover advantage.

We worked with AIN because:

We worked with AIN because they have the largest and most engaged network of angels.

Get started today and view pitches from a huge range of entrepreneurs around the world.

Welcome to the first in the series of our #SixtySecondStartup blog. Each month we will be profiling a different founder with some quick fire questions.

This week we are talking to Julian Hall, Founder of Ultra Education C.I.C. Ultra Education teaches young people aged 7-18 entrepreneurial skills to help them grow or start a business. Through their app they ensure that all young people, regardless of their background, have access to the tools needed to develop their entrepreneurial skills.

Our interview with Julian:

What does your company do?

We teach entrepreneurship to kids aged from 7-18 years old. We have developed an A.I. powered chatbot that can deliver entrepreneurial education to kids at scale through a native mobile app.

Why did you set up this company?

We believe that entrepreneurship is a great vehicle to help increase the life chances of children and young people. It helps them to develop life and work skills.

We knew we were onto something when:

A parent told us that their child never concentrates in school but we had captured their imagination in less that 20 mins. 

How did you get your first customer?

Word of mouth! I told the story about how my own daughter picked up entrepreneurial skills by watching me working at home. After we realised these skills could be taught and started sharing that idea, we got immediate demand from both parents and schools.

Our business model:

Is a subscription based mobile app powered by A.I. and supported by human mentors in the chat. 

Our most effective marketing channel has been:

Word of mouth through social media. We promote the successes of our ‘kidpreneurs’ and which other people also share on their social media channels.

The biggest mistake that I’ve made is: 

Not growing our team early enough and not capturing the impact of our work.

We think that there’s growth in this sector because: 

More and more kids want to work for themselves and have ambitions that schools are unable to currently support on their own. Entrepreneurship is becoming common place, but kids and young people still don’t have access to on demand support. 

We worked with AIN because:

We believe that angels are not just thinking about a monetary return but also a social return.

Get started today and view pitches from a huge range of entrepreneurs around the world.