La Reina, Egypt’s first online fashion rental platform, announced $1 million in a Series A funding round led by Egypt’s largest venture capital fund, Algebra Ventures, with participation from the global VC fund, 500 Startups.
Founded in 2016 by Ghada El-Tanawy and Amr Diab, La Reina, Egypt’s largest couture closet, allowing women to rent their evening and bridal gowns to each other. It has been making waves in the local market for two years, with hundreds of new evening dresses and bridal gowns being added to their curated, expanding collection every month.
La Reina co-founders Ghada El-Tanawy and Amr Diab. Photo credit Startup Scene
La Reina caters to women standing on either side of a demand and supply equation – with designer dresses as their meeting point. The company’s database is currently full of millenials who appreciate fashion, and who are economically-savvy. To date, the platform has garnered more than EGP 3.5 million for dress owners.
‘Our number one priority is take our collection from hundreds to thousands. We aim to grow our current closet in order to reach 5000 items by next January,’ says co-founder Ghada El-Tanawy, ‘This would not only mean a revenue worth of EGP 8 million for the dress owners, but also a humble boost for the local economy and a starting point for a transformative business model,’
The company also plans to use the acquired investment to expand its team, ‘We are certainly focusing on the team,’ says Amr Diab, La Reina’s co-founder, ‘At La Reina, we realize that people are the start and end point. We are determined to find the best talent in the local market. Our team has tripled in the past two months, and we’re still looking for more spectacular minds,’
‘Ghada and Amr are two smart, resourceful, and passionate founders with a clear vision of what they want to build,’ says Algebra Ventures’ Managing Partner, Ziad Mokhtar. ’La Reina is taking the first big step in transforming the way Egyptians consume fashion. Startups that go after sizable multi-billion dollar industries, like fashion, attract Algebra’s attention. La Reina is leveraging shifts in consumer behavior driven by technology, and that excites us.’
In addition to local investors, La Reina has caught the attention of US-based global venture capital fund, 500 Startups. ‘We have been watching the La Reina team since the beginning and were impressed with their innovative approach to solving a huge regional pain point. Not only have we seen similar ideas succeed in the US where the pain point is arguably lower than a place like Egypt (where every week seems to have a formal event with strong social pressures requiring women to dress-to-impress), we were delighted to see how La Reina adapted their strategy and business model around the local nuances and needs on both sides of the marketplace.’ says 500 Startups’ Partner, Sharif El-Badawi. The market has reacted well too. Women who lend their dresses to La Reina earn money in their pockets while those renting get a wide selection for a lot less than.
Algebra Ventures is a $50 million Cairo-based venture capital fund that invests in early-stage technology companies. Its investments include Eventtus, Elmenus, GoodsMart, and Filkhedma.
500 Startups is the most active global early-stage VC fund and startup accelerator focusing on discovering and backing the most talented founders worldwide. Notable portfolio companies include: Twilio (NYSE: TWLO), SendGrid (NASDAQ: SEND), Credit Karma, Canva, Grab, Carousell, Udemy, Intercom, Talkdesk, Makerbot (acquired by SSYS), Wildfire (acquired by GOOG), Viki (acquired by Rakuten), and Kudo (acquired by Grab).
WUZZUF, Egypt’s number one online recruitment platform is revealing its newly revamped platform during “Unlock’18”, an exclusive event that gathers top employers, government officials, media and influencers in the recruitment industry and job market in Egypt.
The first of its kind in Egypt, Unlock’18 will reveal interesting market intelligence and insights about the job market, including major online recruitment trends and habits by employers and job seekers, market demand and supply, as well as top sought-after sectors and market shortages and gaps. The event will also discuss top challenges expressed by employers and job seekers and will include entertaining activities allowing attendees to engage and interact with the new product on a first-hand basis.
Signaling the future of online recruitment in Egypt and the Middle East, Unlock’18 will announce the features of the new platform.The re-launch will showcase the core upgrades made to the website that was re-designed based on users’ feedback and their evolving needs.
“WUZZUF’s new platform is the product of years of marketing research into the online recruitment habits and trends of Egyptian users. It has been designed based on a deep understanding of the intricate and evolving needs of our users, both employers and job seekers. The new features and designs make it extremely localized and tailored to the needs of Egyptian users. We know that not all markets are created equal, so we focus on the specifics of the Egyptian hiring culture and understanding the needs of our clients, without compromising on international standards”, commented Ameer Sherif, CEO and Co-founder of WUZZUF.
Since its inception in 2012, WUZZUF has grown exponentially to a team of over 250 members, empowered over 170,000 job seekers to get hired. With over 3 million profile views and an average of 500,000 open vacancies advertised, WUZZUF is considered the online recruitment market leader in Egypt in terms of the number of jobs and active companies hiring. Over the years, WUZZUF helped to connect more than 1 million talented professionals with more than 15,000 companies effortlessly through its website.
Ameer Sherif concluded: “The new WUZZUF will make professionals’ life easier; it will connect them to more career opportunities and empower them to grow in their careers. It will also empower companies to hire the right calibers in a faster and easier way. We improved, redesigned and re-engineered the product to bring major improvements based on our study of the employers/HR process of work to introduce a more seamless product experience that will make their hiring easier”. Ameer adds, “WUZZUF’s new platform is no longer a transactional job board, it’s the leading career destination for Egypt’s best professionals; it’s the place where they find the best career opportunities in Egypt. Moreover, it’s the leading hiring platform for Egypt’s best companies; it’s the place where they find the best candidates in Egypt”
Famous TV celebrity Chef Manal Al Alem has become the latest investor in the Cairo-based food tech startup Yumamia. The total funding for the company since its inception stands at $1.3 million.
The startup has three principal investors: Chef Manal Al Alem, Faden Media, and Publicis Groupe. Chef Manal Al Alem comes from Jordan, but she is a household name throughout the Middle East.
Faden Media is an Indoor Out-of-Home Media company in Saudi Arabia. Its core activities include in-mall advertising, events management, print media productions, and digital signage.
The Publicis Groupe is a French firm that deals in advertising and public relations. It is the third-largest communications company worldwide.
The Founding, Development, and Success of Yumamia
Mahmoud El Maghraby and Belal El Borno founded this startup in 2014. More specifically, they developed a food delivery app. This app offers its clients healthy foods prepared with the best ingredients in the market. The dishes are affordable as well.
The founders called this app Yumamia. However, the official launch of this app took place in January 2017. The company boasts of double-digit growth in monthly revenue since that launch.
Financial analysts have noticed its remarkable progress as well. In 2017, Forbes Middle East ranked Yumamia at number 84 in its top 100 list of startups in the Arab World.
In the same year, Forbes ranked Chef Manal Al Alem among the top ten most influential women on social media in the Middle East.
Chef Manal Al Alem’s Role in the Startup
Chef Manal Al Alem’s financial input will help Yumamia expand its core menu and increase the quality of its services.
Moreover, Chef Manal Al Alem will play a critical role in promoting the startup throughout the Middle East because of her fame throughout this region. She will make suggestions to improve the menu because she has extensive experience in the world of culinary arts.
Company executives are happy to have her on board. Belal El Borno, the CEO and co-founder of Yumamia stated that her startup investment is a validation of the work the staff and its founders have put into the company.
Chef Manal Al Alem also said that she is happy with her decision to be part of the company because she believes technology will revolutionize the food & beverage industry.
Today, Facebook in the Middle East and North Africa (MENA) announced the launch of the Facebook Community Leadership programme, a global initiative to support, recognize and invest in people building communities both online and offline.
As part of the programme, Facebook will invest tens of millions, including up to $10 million in grants that will go directly to people leading communities, with the aim to empower them to continue building meaningful communities through the Facebook family of apps and services.
The leadership programme will include:
Residency and Fellowship opportunities offering training, support and funding for community leaders from around the world.
Up to five leaders will be selected to be community leaders in residence and awarded up to $1,000,000* each to fund their proposals.
Up to 100 leaders will also be selected for Facebook’s fellowship program and will receive up to $50,000* each to be used for a specific community initiative.
Community Leadership Circles bringing local community leaders together to meet up in person to connect, learn, and collaborate. Facebook has piloted three circles in the US in 2017 and will be expanding globally this year.
Groups for Facebook Power Admins, which Facebook currently runs with more than 10,000 group admins in the US and UK, are expanding to more members to help them share advice with one another and connect with our team to test new features and share feedback.
Applications are now open for the residency and fellowship. To learn more and apply, visit communities.fb.com.
Facebook also introduced new tools for group admins at the Facebook Communities Summit in London. These new tools include:
Admin tools: Admins can now find member requests, pending posts, Group Insights, settings, and more — all together in one place. These tools make it easier to manage groups and frees up more time for admins to connect with people.
Group announcements: Following the demand from group admins to be able to easily share updates, Facebook is introducing group announcements, which let admins post up to 10 announcements that appear at the top of their group page. Admins can set expiration times for each, giving them greater flexibility in communicating important and timely information.
Group rules: Keeping communities safe is important. Many admins already create and enforce standards within their groups. Facebook has created a dedicated rules section to help them effectively communicate the rules of the group to members.
Personalization: Each community has its own identity — that’s why Facebook is announcing colors, which let admins add a personalized color that is displayed throughout their group. This redesign also highlights members’ friends who are in the group, helping to strengthen bonds between members.
In addition, Facebook revealed the expansion of their London-based engineering team that builds technology to help keep people safe and secure on Facebook. London is home to Facebook’s largest engineering hub outside of the US, and by the end of 2018, they will double the number of people working in London on these issues. The engineering work on community safety includes the following:
Detecting and stopping fake accounts: Working to make sure Facebook is a community of people who can connect authentically with real people.
Protecting people from harm: Reducing things like harassment and scams that can happen in the real world and on Facebook, by building better tools to spot these issues and remove them.
Improving ways to report content: Making it easier for people to give us feedback about things that shouldn’t be on our platform, which works in conjunction with our automated detection.
The programs and tools Facebook announced today are designed to help the admins who lead these communities to grow and strengthen bonds among members. The leaders are a constant source of inspiration and Facebook looks forward to continuing their efforts to support them.
Which startups raising funds through ICOs are most likely to succeed? Using Aingel’s AI based Deal Flow Analyzer, we generate an Inception Score™ that helps investors identify the next game-changing companies in the blockchain space.
Here are the top 12 blockchain startups our algorithm picked out of 69 ICOs launching this month:
1. GiftCoin
Inception Score™: 99%
ICO Date: 1 Feb – 1 March 2018
Founded: 2017
Number of Founders: 5
Headquarters: UK
What is it about?
GiftCoin is a cryptocurrency for charitable causes. It promises donors delivery of funds to the exact causes they have chosen while offering charities more transparency, funds and greater impact.
Who’s behind it?
Alex Howard is charity founder and visionary. He founded The Optimum Health Clinic in 2004, a UK charity with patients in 40 countries. He also founded Conscious Life, a self-development online platform. He holds a BSc in Psychology from Swansea University.
Tim Bichara is co-founder and technology consultant. An entrepreneur and CPO, he co-founded Q App, a FinTech startup that was acquired by Yoyo wallet in 2016. He was recognized in 2015 by Times as one of the top 10 disrupters to watch. He earned his BA from the University of London.
Jonathan Beddoes is co-founder and advisor. He is an entrepreneur and investor who started his career at 15 by launching a web hosting company. He founded Monetisation, a software platform; Techtopia, a tech incubator; and Safer Technologies, a security software company acquired by Avast Software. He studied Innovation and Entrepreneurship at Vlerick Business School. He also holds a BSc in Computer Science from the University of Manchester.
Ben Evans is co-founder and CTO. He is a technologist and blockchain enthusiast with previous work experience at Morgan Stanley, where he oversaw the 2004 Google IPO. He was also lead architect at Deutsche Bank prior to co-founding JClarity. He wrote a number of books on Java Development. He holds an MA in Mathematics from Cambridge University.
Christopher Cain is co-founder, IT consultant and entrepreneur. He specializes in designing and implementing decentralized P2P networks, as well as consulting on blockchain platforms in the cryptocurrency space. He holds a BSc in Computer Science from Lamar University.
RightMesh is creating an ecosystem that aspires to make the world more connected by empowering next generation digital entrepreneurs. It provides a software solution that can be integrated into all applications without the need of additional infrastructure or hardware, bringing connectivity to populations who don’t have internet access.
Who’s behind it?
Chris Jensen is co-founder and COO, with a banking, corporate development and operations background and experience at several startups. He holds a BSc in Economics and History from Queen Mary University of London.
John Lyotier is co-founder and CEO. He has more than two decades of experience in marketing during which he launched, designed, and jump-started companies and new products. He holds a BA in English and Art History from the University of British Columbia.
Rakib Islam is co-founder and CTO. He is an expert is software architecture development. He is also a member of the Bangladesh Association for Software and Information Services. He holds an MSc in Computer Science and Applications from Pune University, India.
3. Hearthy
Inception Score™: 90%
ICO Date: 5 – 25 Feb 2018
Founded: 2015
Number of Founders: 3
Headquarters: Spain
What is it about?
Hearthy aspires to create a decentralized, patient-centered ecosystem that provides access to improved and affordable healthcare for people regardless of income. Hearthy’s solution focuses on cutting out middlemen to decrease the costs incurred during the access-to-health process, reduce waiting time, and provide quicker access to reliable personal health records through its open source platform.
Who’s behind it?
Javier Blanco is CEO and co-founder. In his 11 years of experience in building digital products, he founded Glue Digital, which serves around 25 million users, and worked with Fortune 500s such as Carrefour, KFC and AXA. He holds a degree in audiovisual communication from the Universidad Complutense de Madrid, and a Master’s degree in video digital direction from Trazos.
Juan Sebastián Valencia is experienced in the area of medical care innovation, with a focus on helping doctors spend less time analyzing big amounts of data and more time on therapy with patients. He is a project manager in AI for MédecinDirect, and chief medical informatics officer at Carians. He holds an MD from the Université Paris Descartes, where he also studied Emergency Medicine.
Shafi Ahmed is co-founder of Hearthy and Medical Chief Officer at Medical Realities. He is a member of several esteemed medical associations. He is a medical advisor to Beani Bazar Cancer Hospital Project in Bangladesh. He holds a PhD from Queen Mary University of London with a specialization in colorectal cancer, and a BSc in Medicine from King’s College London.
4. Acomobase
Inception Score™: 89%
ICO Date: 1 – 28 Feb 2018
Founded: 2017
Number of Founders: 5
Headquarters: Cyprus
What is it about?
Acomobase is a blockchain-based and AI-powered decentralized marketplace that offers accommodation using smart contract tokens to connect users with hosts. Its new token, ACO, can be exchanged on the platform between hosts and users, offering a direct P2P international payment that eliminates the middleman.
Who’s behind it?
Alexandros Malioukis is community manager and psychologist. He is a Greece-based therapist with work experience at mental health institutions and a clinical background in a variety of mental disorders. He holds a BSc in Psychology from Ethnikon kai Kapodistriakon Panepistimion Athinon.
Alketas Malioukis is CEO and co-founder. He is experienced in web analytics, business development, social media and content strategy. He holds an MSc in Marketing and Communications with New Technologies from The Athens University of Economics and Business, and an MBA from the University of Strathclyde, Glasgow.
Iulia Lazea is co-founder and business development head. She is experienced in international management consulting with a focus on financial, Oil & Gas, transportation and pharmaceutical industries. She holds a Master’s degree from Universität zu Köln with a specialization in corporate development, organization, HR and asset management. She also holds a BBA from the Academia de Studii Economice din București.
Jiří Svoboda is finance officer and co-founder. He is head of reporting at Kiwi.com, and he perviously held several positions at EY. He studied Accounting and Financial Management at Vysoká škola ekonomická v Praze.
Zenos Pavlakou is co-founder, smart contract developer and blockchain consultant. He holds a BSc in Computer Science from the University of Sussex.
5. Narrative
Inception Score™: 89%
Total Funding: USD $12,225,000
ICO Date: 15 Feb – 22 March 2018; pre-sale from 7 – 14 Feb 2018
Founded: 2017
Number of Founders: 4
Headquarters: Gibraltar
What is it about?
Narrative is a blockchain-powered content platform and social media network that gives users autonomy and distributes 85 percent of all revenues to active participants who demonstrate positive impact on the quality of content. Narrative uses both cryptocurrency and fiat to reward user-generated content.
Who’s behind it?
Ted O’Neill is co-founder, with more than two decades of experience in creating user-generated content platforms. He is also the founder and CEO of Social Strata, where he has been developing community platforms since the late nineties. He is a viral marketing, UI design and development pioneer. He also created BBCode. He studied at William & Mary University.
Rosemary O’Neill is co-founder of Social Strata, with more than two decades of experience as a writer, speaker and entrepreneur who specializes in online community building, digital marketing and corporate communications. She holds a BA in Political Science from Franciscan University of Steubenville.
Brian Lenz is co-founder and CTO. He is a software engineer and architect with more than 17 years of experience in SaaS, covering software development, security, infrastructure and systems. He is also the VP and CTO of Social Strata. He holds a BSc in Computer Engineering from the University of Washington.
Michael Farris is co-founder, with a track record in the information technology and services industry. He founded Geofy Inc., and he previously held the position of director of learning technologies at Red River College. He holds a PhD in Philosophy and Religious Studies from the University of Toronto, and a BA in English and Philosophy from the University of Toronto – University of Trinity College.
PolySwarm is a decentralized marketplace that rewards global security experts for identifying malware and building anti-malware engines in a timely manner. It encourages competition between security experts and incentivizes rapid innovation in the cyber threat intelligence space.
Who’s behind it?
Steve Bassi is CEO, developer and co-founder. He founded Narf Industries, an R&D firm that specializes in information security. He has over two decades of experience in information security development. He held key roles in a number of government and industry projects, which included R&D in blockchain-based identity management. He holds an MSc in Computer Science with a specialization in Information Security from the Naval Postgraduate School, and a BSc in Computer Engineering from Santa Clara University.
Paul Makowski is CTO, developer and co-founder, with more than a decade of experience in program analysis, modern software exploitation and cryptography. He reverse engineered malware disinfection tools at Narf for Fortune 100 companies. Prior to that, he led information security research and development at CERT/CC and McAfee. He holds a BSc in Computer Engineering from Santa Clara University, and an MSc in Information Technology and Management from Carnegie Mellon University.
Ben Schmidt is director of product security, developer and co-founder, with more than 10 years of experience in information security. He led automated program analysis research, secure software development and cryptography, among others. He holds BSc and MSc degrees in Computer Science from the University of Tulsa.
Nick Davis is COO, developer and co-founder. He has a track record in leading digital forensics, malware reverse engineering and threat analysis. He also co-founded Narf. He holds MSc and BSc degrees in Computer Science from the Naval Postgraduate School, and the University of Minnesota -Twin Cities, respectively.
Maxwell Koo is co-founder and senior backend developer with nine years of experience in secure software engineering, digital forensics and vulnerability analysis. He holds a double BSc degree in Computer Science and Electrical & Computer Engineering from Carnegie Mellon University.
7. Havven
Inception Score™: 87%
Total Funding: USD $250,000
ICO Date: 28 Feb – 6 March 2018
Founded: 2017
Number of Founders: 1
Headquarters: Australia
What is it about?
Havven is a decentralized blockchain based payment network that aspires to solve the volatility issue of cryptocurrencies by allowing holders of its tokens to issue a secondary US dollar-denominated token. By connecting collateral holders with users who need low volatility, Havven enables a stability market that is driven by incentives; collaterals are compensated when users transact in stablecoin.
Who’s behind it?
Kain Warwick is founder of Havven and CEO of Blueshyft, one of Australia’s biggest cryptocurrency payment platforms with a transaction volume worth tens of millions. He previously founded Ai and Pouncer. He has a BSc in Genetics from The University of New South Wales, Australia.
Medicalchain is developing a blockchain-based electronic health records platform, allowing users to give health professionals access to their personal data. Medicalchain will also be used for building applications and services that enhance the user experience.
Who’s behind it?
Abdullah Albeyatti is co-founder and CEO. He also co-founded Discharge Summary, an application that hospitals use to generate accurate patient medical reports, which is the first seed of Medicalchain. He studied medicine at Imperial College London. He previously developed solutions to help NHS overcome some inefficiencies.
Mohammed Tayeb is co-founder and COO, with entrepreneurial and investment experience in the technology sector. He worked with Morethan.com as head of development. He is also a partner at Hearn Capital. He holds an Executive MBA from the University of Oxford, and a BSc in e-Commerce from Brunel University.
FarmaTrust is an Ethereum blockchain-based security tracking system for patients and pharmaceuticals that ensures counterfeit drugs are blocked from the supply chain.
Who’s behind it?
Raja Sharif is founder and CEO, with a career track in managing several international technology and media projects. He managed strategy implementation at Al Jazeera Media Network and AJ+. He was also senior legal council at British Telecom. He holds an LLM in International Trade, Finance and Banking from the University of Nottingham, and an LLB from The University of Hull.
10. TheKey
Inception Score™: 83%
ICO Date: 1 Feb 2018
Founded: 2017
Number of Founders: 1
Headquarters: Singapore
What is it about?
TheKey is an identity verification tool powered by big data, AI and blockchain technology. TheKey aims at delivering an online identity verification tool that is cost-efficient and suitable for all legal relations (e.g., copyright and data exchange).
Who’s behind it?
Catherine Li is CEO and founder, with a diverse experience in several areas including medical informatics and big data. She founded the Dynamic Multi-dimension Identification technology, and she was named among the Most Outstanding Women Entrepreneurs in China in 2017. She holds an MSc in Computer Science from McGill University.
11. ExsulCoin
Inception Score™: 82%
ICO Date: 12 Feb 2018
Founded: 2017
Number of Founders: 1
Headquarters: US
What is it about?
ExsulCoin is building a blockchain-based crowdfunding platform to support refugee-led projects. The ExsulCoin cryptocurrency allows holders to recommend, vote for, and fund ideas. Platform users also earn ExsulCoin after finishing required tasks such as delivering medical supplies, which contributes to the development of a refugee-empowering ecosystem that is financially inclusive.
Who’s behind it?
James Song is founder and CEO of ExsulCoin and Exsul, an AI-driven educational app for refugees which is being tested at a Rohingya Refugee Camp in Bangladesh. He is a senior advisor for Faircap Partners equity firm. He pioneered using self-hypnosis in the treatment of HIV patients in Uganda during his Fulbright Scholarship. He holds an MSc in Neuroscience from the University College of London, and a BSc in Psychology from Harvard. He was named a Young Global Leader by the World Economic Forum.
12. SnagRide
Inception Score™: 80%
ICO Date: 7 Feb 2018
Founded: 2017
Number of Founders: 1
Headquarters: US
What is it about?
SnagRide is a decentralized AI-based ride sharing app, which offers affordable programs for mid and long distance rides using the Ethereum blockchain. The platform connects drivers and passengers who are traveling between cities.
Who’s behind it?
Terry Chan is CEO and founder, with a decade of experience in the e-commerce industry. He is skilled in analytics, data mining, software quality assurance and automation. He holds a BSc in Mathematics and Computer Science from the University of California, San Diego.
How do we score companies?
The Inception Score is based on a Monte Carlo wrapped machine learning algorithm developed at NYU where we analyzed more than 6,000 startup founders based on their educational background, work history, startup experience and personality (deduced using AI from their digital footprint analysis).
We input this data into our patent-pending algorithm, which then generates multiple seed-stage investment portfolios of startups predicted to be successful. The percentage represents the number of times each startup is selected in 1,000 iterations of portfolio generation. With backtesting, overall accuracy is 95% and true positive rate is 70%.
READERS OF THIS POST ARE NOT TO CONSTRUE THE CONTENTS HEREIN OR ANY PRIOR OR SUBSEQUENT COMMUNICATION FROM THE AUTHOR AS LEGAL, TAX, OR INVESTMENT ADVICE. EACH READER SHOULD CONSULT WITH AND RELY ON ITS OWN PERSONAL COUNSEL, ACCOUNTANT, OR OTHER ADVISORS AS TO LEGAL, TAX, AND ECONOMIC IMPLICATIONS OF THE INFORMATION DESCRIBED HEREIN AND ITS SUITABILITY FOR THE READER.
The two top challenges facing today’s leaders are employee engagement and effective strategy execution, according to a survey of 1248 senior directors and executives of which 10% come from the Middle East. Almost three quarters of the total respondents come from global organizations, multinationals and large companies.
Also among the top five challenges are talent management, driving work across organisational boundaries and collaborative working across teams.
These are just some of the findings from a new study carried out by London Business School’s Leadership Institute which explores the issues facing the world’s leaders of business and other organisations.
“Importantly, these top five issues are all intertwined: disengaged employees are unable to put strategy into place effectively. The commercial imperatives are clear: without an effective strategy which the workforce fully supports, organisations suffer and results fall,” explained Randall S. Peterson, Academic Director of London Business School’s Leadership Institute.
He continued: “This is particularly pertinent today given the growth in the service economy: people really are an organisation’s most important asset. So for success, employee engagement has never been more important.
“Furthermore, this widespread study demonstrates that four of the top five issues facing organisations relate to managing the workforce. The UK, for example, is plagued by poor productivity, so organisations need to address the full range of people management issues to up their game.”
“To engage staff, leaders may be tempted to simply ‘sell’ reasons for staff to be passionate about their role. But this approach won’t succeed. The best performers are motivated by work that is rewarding in itself: work that gives meaning to their lives or develops their skills.”
Aligned to this, the survey also asked respondents about the most important skills required by leaders for success. Communicating purpose ranked as the single most important skill.
Professor Peterson argues that firms need to be focused not only on issues such as staff needs, fair pay, a safe working environment and resources, but also on individuals’ goals and aspirations which also support organisational goals.
“Ensuring staff and stakeholders share a joint sense of purpose encourages them to go above and beyond what’s required. This is critical for long term organisational success – and is complemented by the other key leadership skills highlighted by the survey, namely, integrity, setting direction, critical thinking and practising what you preach in terms of beliefs, values and behaviours,” explained Professor Peterson.
Drive change through collaboration
Almost 80% of respondents said that change was driven, or mandated, by senior management while only 10% was driven by people lower in the organisation and 9% consider that their organisation resists change.
Commenting on the results, Vyla Rollins, Executive Director of the Leadership Institute, said:
“In an age when change is increasingly accepted as a constant, it’s important to approach the development and execution of change initiatives in a way that works in organisations facing 21st century challenges.
She added: “For example, according to our study, a ‘bottom-up’ approach to change is rare and the prevalence of senior manager-led initiatives may go some way to explain why employee engagement is such a concern for many organisations. It’s therefore well worth organisations acquainting themselves with some of the emerging collaborative approaches to change, whereby senior leaders’ responsibility is to facilitate and orchestrate change, rather than mandating and driving change via clusters of individuals in senior roles.”
“The results also suggest that individuals may lack the skills to lead and manage complex change involving multiple stakeholders. We find many organisations still use a linear approach for large-scale organisational change, which can often be more disruptive than the change they are trying to introduce.”
A focus on day-to-day delivery is leaders’ main barrier to success
The primary reason leaders are unable to reach their full potential is a focus on day-to-day delivery, according to 54% of respondents, followed by a lack of strategic thinking (45%) and organisations’ inability to adapt to change (35%).
“These results indicate that cultures overly focused on tasks and delivery can make it difficult to feel okay with stepping back and creating time to think about what the organisation should be achieving strategically,” said Vyla Rollins.
Effective senior management teams
Respondents were also asked how well they perceive that senior management figures work together. Worryingly, 58% of participants have concerns about how their organisation’s top executive team appear to work together from focusing on their own agendas to regular conflict and even in-fighting within the team.
Professor Peterson commented: “So it’s no surprise that respondents also feel they are struggling with executing strategy, building engagement and creating meaningful change in their organisation.
“Behaviour at the top of an organisation informs how individuals further down lead and behave, as well as influencing organisational performance.
“Effective conflict resolution is critical to building trust for the future in any group or organisation. This means all parties need to accept the decision as legitimate and commit to implementation. The problem with simple voting procedures, which are extremely common, is that some members’ views are typically shut down and this can de-legitimise the team’s decision and undermines commitment.”
Managing failure
The survey also explored how organisations deal with failed initiatives and there is an overwhelming feeling that such projects are met with negativity.
In fact, 59% of responses suggest that the results of failed initiatives are not shared across the organisation, or else not talked about. However, what’s more concerning is that a further 11% of responses demonstrate that individuals involved typically disappear from the organisation, while 14% suggest that the results are shared but the individuals concerned are stigmatised.
Only 11% of responses reflect that results from projects which have failed are celebrated as important learning opportunities. Start-ups and SMEs appear more likely to embrace failure than larger organisations.
Professor Peterson notes: “For any organisation to succeed at innovation, they must develop ways to make it acceptable to talk about projects that don’t progress as planned and then turn them into learning opportunities. It takes a real shift in beliefs, mindsets and behaviours for companies to start to innovate more effectively.”
“So to help organisations thrive, leaders must learn how to manage failure. Naturally you need to minimise potential downside costs by beginning with a small pilot project, for example, but also by maximising benefits and extracting as much value as possible from what is learnt. Simple questions can be valuable, for example: ‘What went well, and why?’, and, ‘What could have been done to help bolster possibilities of success?’”
TechWadi Annual Forum, taking place on 27 Jan in Plug and Play Tech Center, Sunnyvale, California has been a frequent topic of discussion between tech entrepreneurs in the past couple of weeks. With topnotch speakers and panelists from Careem, Facebook, Cloudera, Aingel, Endure Capital, Google and more.
So what makes this year’s conference so special?
1) Are you a founder or at a start up looking for funding? There will be few places on earth that will have a higher investor/sq ft. ratio than this conference on January 27th.
2) What is all this Blockchain/Bitcoin/ICO hoopla about? Hear from an all star panel about it + a Ted Talk on the geopolitics of blockchain.
3) Hear from amazing founders like Amr Awadallah, co-founder and CTO of Cloudera which IPO’ed at a valuation of over one billion dollars or Omar Tawakol, who sold his last company to Oracle for over $400 million dollars, and Careem founder Karl Magnus Olsson, a company valued at over a billion dollars.
4) Are you interested in finding a new company or making a career change? You will have the chance to meet people from the likes of power houses such as Google to Facebook to nascent start ups recruiting talent to help make them a success.
5) Everyone is talking about AI being a critical piece of the future – at the TechWadi forum you will literally hear from some of the most talented people in the field discuss it’s impact on business.
6) Connect with and listen to investors from Mubadala, Endure Capital, 500 Startups, Eonite, E11 Capital, Endure Capital, Rising Tide Fund, Garage Technology Ventures, Olive Tree Capital, and Endeavor and more.
7) There are a lot of problems to solve in the Middle East and in the refugee diaspora community around the globe. While there is no silver bullet, it is a certainty that both entrepreneurship and the power of technology will be pillars of the solution. We need the best and brightest to be engaged on these issues and your presence at this forum is a small start.
If you need more information on TechWadi Annual Forum 2018 or to register, please visit techwadi.org event page.
Which startups raising funds through ICOs are most likely to succeed? Using Aingel’s AI-based Deal Flow Analyzer, we generate an Inception Score™ that helps investors identify
Aingel logo
the next game-changing companies in the blockchain space.
Here are the top 17 blockchain startups our algorithm picked out of 58 ICOs launching this month:
1. Colu
Inception Score™: 99%
Amount Raised: USD $26,600,000
ICO Date: 18 Jan 2018—unknown
Founded: 2014
Number of Founders: 3
Headquarters: UK & Israel
What is it about?
Colu allows people to directly exchange digital cash locally in an attempt to encourage sustainable economic growth. By using local currencies, Colu encourages people to shop, eat, buy, and live local, strengthening the local economy as well as fostering social responsibility.
Who’s behind it?
Amos Meiri is co-founder and CEO. He held several positions at other companies, including head of dealing at eToro and foreign securities desk manager at Meitav Trade Securities. He studied Business Administration at the College of Management Israel.
Mark Smargon is a co-founder and VP blockchain. He previously founded Bitgo and Creatix, where he held the position of CEO for 13 years.
David Ring is co-founder and VP of R&D, with over 20 years of experience in software development and management. He co-founded eToro where he held the position of CTO. He also worked as a senior director at 888.com. He holds an MSc in Computer Science from IDC Israel, an MBA in Finance from Manchester and a BSc in Electronic Engineering from the Technion Israel.
What is it about? BitMinutes is a unit of exchange for mobile payments that turns prepaid airtime into cash. The new cryptocurrency allows international mobile operators, retailers and trusted agents to support the transfer of money to all mobile phone users across the globe free of charge. BitMinutes is designed to use prepaid cellphone minutes to finance micro-loans, which are considered by banks as too small and unprofitable. By supporting small financial transactions, BitMinutes offers micro-loans for 50% less than bank rates.
Who’s behind it?
Tom Meredith is CEO with a solid background in the internet, financial services, and telecom. He worked at Digital Equipment Corporation, Franklin Computers, and Lisp Machine. He also founded VoxLink and Internet Gaming. He graduated from Harvard Business School with a specialization in Entrepreneurial Studies and Stanford University School of Engineering.
Morris Mwanga is a CTO and FinTech entrepreneur with over 12 years of programming experience. He developed mobile wallet technology and financial exchange in Sub-Saharan Africa. He holds BSc and MSc degrees in Computer Science.
Donald Chapman is head of business development, with over 15 years of experience as FinTech services and payments professional. He helped establish PayNet for Fidelity National Information Services and worked as a corporate consultant with Prudential Financial, Wyeth Pharmaceuticals, Discovery Communications, and Ocean Spray Cranberries. He holds an MBA with a specialization in investment from Babson College.
Peter Carruthers is head of banking, compliance and foreign exchange. He has been providing innovative FX solutions as an advisor to Fortune 500 clients for the past 25 years. He is the former director of capital markets at Citibank, and he also worked with Credit Suisse, Bank of Nova Scotia and Royal Bank of Scotland. He holds a BSc in Finance from Manhattan College and an MBA from Fordham University.
3. ATFS Lab
Inception Score™: 95%
ICO Date: 10 Jan—9 Feb 2018
Founded: 2017
Number of Founders: 5
Headquarters: Cayman Islands
What is it about?
ATFS is an agricultural technology and food science company powered by Ethereum and Smart Contracts. The ATFS token finances the Smart Farm 2.0 and the production of plant-based meat. The company aspires to provide a solution to the world’s food crisis through agricultural technological advancements built on providing new revenue and supply systems as well as offering an alternative to meat consumption.
Who’s behind it?
Austin Chung is co-founder and CFO, with 16 years of experience in the financial sector, lifestyle goods manufacturing, marketing, and bio-venture companies. He is an expert at ICObench. He is the former CFO of Dmajor, and he holds a bachelor’s degree in Information Statistics from Korea University.
David Kim is co-founder and CEO, with more than 10 years of experience in business strategy at Samsung Group. He also worked with VC firms in Korea, including HOSEO Venture Capital and Benex Investment. He held VP positions at BNCP Co., Candle Media, A2X Games, and Creants. He holds a Bachelor of Business Administration from Korea University.
Jay Choi is co-founder and COO, with over two decades of experience in management consulting and finance. He held several corporate positions at Korea Investment Bank, Ernst & Young, IBM, and KPMG. He holds a BBA from Korea University.
Allen Sung is co-founder and CTO, with more than two decades of engineering corporate experience at Daewoo Electronics, RealNetworks, DSPG, and DesignIt. He graduated from Seoul National University.
Rachel Chung is co-founder and marketing lead, with top global brands experience in tech, leisure, fashion, and home furnishing. She previously worked with Group IDD, Dmajor, and Visually Unboxed. She graduated from the University of British Columbia.
4. Origami Network
Inception Score™: 94%
ICO Date: 12 Jan—15 Feb 2018
Founded: 2017
Number of Founders: 3
Headquarters: France
What is it about?
Origami Network is a global solution that aspires to build decentralized P2P marketplaces powered by blockchain. Businesses create their online marketplace on the Origami Marketplace, which acts as a platform for buying and selling goods and services online. Origami’s payment system is powered by Ethereum, ORI, and ERC20.
Who’s behind it?
Julien Bruitte is co-founder and CEO. He also founded Comptoir Du Code, CommentSeRuiner.com and Cute. Land. He is a former Atos software engineer. He holds a BSc from the Institute of Technology, Carlow with a specialization in Software Development.
Vincent Pichon is co-founder and CTO with a background in e-commerce and marketplace. He is also the CTO of CuteLand, and he previously founded CommentSeRuiner. Prior to that, he was a software engineer at Worldline by Atos. He studied at the University of Lille 1 Sciences and Technology, and the Institute of Technology, Carlow.
Alexandre Duquenoy is co-founder and CMO. He also co-founded Cute.Land, Du Code and CommentSeRuiner. He holds an MSc in Engineering from the University of Lille 1 Sciences and Technology, and a BSc in Software Development from the Institute of Technology, Carlow.
5. UbiquiCoin
Inception Score™: 93%
ICO Date: 16 Jan—28 Feb 2018
Founded: 2017
Number of Founders: 3
Headquarters: Gibraltar
What is it about?
UbiquiCoin is a digital currency that is backed by a financial guarantee to overcome current cryptocurrency challenges, including high price volatility, transaction time latency and lack of support. UbiquiCoin addresses these problems by building a two-coin infrastructure. It provides one coin that is stable in value for transactions as well as another coin for investors’ free trading, which is supported by a revenue share from UbiquiCoin’s ecosystem. The currency scales with the size of the ICO.
Who’s behind it?
Jeff Mahony is co-founder and CEO, with a track record in financial services and technology. He has almost three decades of experience in developing internet strategy and managing large-scale projects for financial trading systems. He founded SaveDaily and Jeda Group. He graduated from the University of California, Los Angeles with a Bachelor’s degree in Cognitive Science.
AbdulQadir Mohidin is co-founder and CVO. He studied finance and technology in the US. He previously managed private and public equities at Schneider Finance and worked at Schneider Brothers ltd.
Steve Durbin is co-founder, president, and CFO with a career track in financial services. He founded Quail Bend Capital Partners in 2010 and served at The Watley Groupas as senior managing director and head of investment banking. He also worked at Red Mountain Capital Partners, Oak Hill Capital Partners, and JP Morgan. He graduated from Harvard University with a degree in Economics.
6. SureRemit
Inception Score™: 90%
ICO Date: 10 Jan—10 Feb 2018
Founded: 2017
Number of Founders: 3
Headquarters: US
What is it about?
SureRemit is a blockchain-powered ecosystem that connects providers of non-cash remittances globally.
Who’s behind it?
Adeoye Ojo is co-founder and head of sales operations. He previously led marketing business intelligence at Jumia. He also worked as an e-commerce consultant. He holds a BSc in Statistics from the University of Agriculture, Abeokuta.
Babafemi Lawal is co-founder and head of technology operations. He worked with Jumia and Samsung. He holds a BSc in Computer Science from the University of Lagos.
Olaoluwa Samuel Biyi is co-founder and head of remittances. He worked with Venture Garden Group and Jumia. He is also a venture partner at Greenhouse Capital. He holds a BSc in Accounting and Finance from The University of the West Indies Cave Hill.
BitNation identifies itself as the world’s first virtual nation that allows people to make a choice on how to govern themselves peer-to-peer, locally and globally.
Who’s behind it?
Susanne Tarkowski Tempelhof is co-founder and CEO. She is an entrepreneur, author of The Googlement, and founder of Shabakat Corp. and Wise Strategic Communication. She started her career as a journalist with Magazine Groove in Sweden.
James Fennell is co-founder and COO, with tech solutions expertise in the areas of governance, security, conflict, and refugees. He holds advisory roles with several organizations, including DFID, G4S International and CARE. He has a BA in Geography from King’s College London and an MSc in Agricultural Engineering from Cranfield University.
Ma Wo is co-founder and head of infrastructure and security. He is the lead developer of Horizon Coin and NFD Coin. He studied Computer Science.
8. Scorum
Inception Score™: 89%
Amount Raised: USD $800,000
ICO Date: 14 Jan—11 Feb 2018
Founded: 2017
Number of Founders: 4
Headquarters: Belarus
What is it about?
Scorum is a sports media platform powered by blockchain that rewards active users with tokens. Content creators are rewarded for contributing to the platform with written work, comments, and images while readers are rewarded for voting for quality sports content.
Who’s behind it?
Vladislav Artemyev is co-founder and CEO. He is an IT executive with more than 12 years of experience. He also co-founded TimeToDraft and TimeToDevelop. He studied at the Belarusian State University.
Alexei Belov is a co-founder and chief sports analyst. He has over eight years of experience in professional sports journalism and editing with numerous publications. He is also an expert in analyzing sports stats. He studied Journalism at the Belarusian State University.
Andrey Filipovich is co-founder and user experience director, with more than a decade of experience in UX/UI at Google, Thomson Reuters, and IMAX among others. He studied Engineering at the Belarusian State University of Informatics and Radioelectronics.
Mikalai Pobal is a co-founder and operations manager. He also co-founded TimeToDevelop and TimeToDraft. He studied International Economic Relations at the Belarusian State Economic University.
9. Thrive
Inception Score™: 89%
ICO Date: 15 Jan—5 March 2018
Founded: 2017
Number of Founders: 1
Headquarters: Malta
What is it about?
Thrive is a blockchain-based premium decentralized advertising marketplace that competes with Google’s AdWords. It aspires to buy and sell advertising at low fees while paying people for sharing their data as well as for reviewing websites’ quality.
Who’s behind it?
Priya Parker is the founder of Thrive Labs. He previously worked as an analyst for PRS Legislative Research, and a program associate for the International Institute for Sustained Dialogue. He holds a Master’s degree in Public Administration from Harvard Kennedy School of Government, an MBA from MIT Sloan and a BA in Political and Social Thought from the University of Virginia.
10. Solareum
Inception Score™: 88%
ICO Date: 11–18 Jan 2018
Founded: 2017
Number of Founders: 3
Headquarters: US
What is it about?
Backed by leading solar companies, Solareum is a currency powered by the Ethereum blockchain that offers discounts on renewable items, solar panels, solar heating, as well as rewards for ownership of solar-powered products.
Who’s behind it?
Kenneth Reece is co-founder and director of strategic relationships at America Green. He is the former CEO of The Brand Firm and NY Marketing Firm. He studied Network Communications at DeVry University.
Desiree Guinto is a co-founder and managing director at America Green. She is the former COO of the Brand Firm and ex-VP marketing at the NY Marketing Firm. She holds a BA in International Relations from De La Salle-College of St. Benilde. She specializes in recruiting, brand identity and market research among other operational related areas.
Karl Unterlechner is co-founder and CEO of InterfaceIT, former head of strategic business at GeoOp, and ex-COO at the SMART Group. He studied Business Information Systems and Management at RMIT University. He also earned a Bachelor’s degree in Civil Engineering from the University of Melbourne.
11. Skara
Inception Score™: 87%
Amount raised: GBP £2,500,000
ICO Date: 23 Jan—23 Feb 2018
Founded: 2012
Number of Founders: 2
Headquarters: UK
What is it about?
Skara is a team combat video game for up to 10 players, which is available for PC users on the Steam Store. Skara revolves around different cultures contending to survive a cosmic catastrophe. It combines video games, novels, and comics.
Who’s behind it?
Pablo Rodriguez Valero is co-founder, CEO and creative director, with over 15 years of experience in developing and launching video games. He also teaches a Master in Video Games class at Alicante University. He has a BA in Fine Arts from the Universitat de Barcelona.
Cesar Ortega is a co-founder and executive producer. He has three engineering degrees and an MBA from the University of Oxford. He previously worked in Corporate and Investment Banking for global institutions.
12. CrowdCoinage
Inception Score™: 85%
ICO Date: 15–21 Jan 2018 (Presale); 22 Jan—12 March 2018 (Sale)
Founded: 2017
Number of Founders: 4
Headquarters: Estonia
What is it about?
CrowdCoinage is an operating system for Ethereum-based fundraising for investors. It allows several parties such as startups, real estate investors and developers to launch crowdfunding and ICO campaigns through the sale of dividends or equity tokens on cryptocurrency exchanges. CrowdCoinage’s future cryptocurrency and blockchain-based financial services cover debit cards, insurance, P2P loans, wallet, and exchange among others.
Who’s behind it?
Peep Paum is co-founder and CEO. He took part in several technology projects over the past decade, providing many mobile apps with user-friendly UX and UI. He co-founded Indoor.Ninja, GoOffline.today and Totalstar. He studied Industrial Electronics Technology.
Tauno Poks is co-founder and CTO, with over a decade of experience as a developer. He is the former CEO and project manager of EstPres, and he studied Multimedia at the University of Tallinn.
Sven Kauber is a co-founder and senior backend blockchain developer, with over a decade of experience in managing servers, web development, and cloud-based services. He also worked with Freeman, Visa, and Qualcomm. He holds a Bachelor’s degree in Computer Science from the University of Turku.
Silver Liiv is a co-founder and frontend developer. He has around a decade of experience as a self-taught developer, building web experiences and helping companies grow their brands.
13. Dimensions Network
Inception Score™: 85%
ICO Date: 24 Jan—24 Feb 2018
Founded: 2017
Number of Founders: 3
Headquarters: Singapore
What is it about?
Dimensions Network is building next-generation trading platforms of cryptocurrency, supporting standard coin pairs, exchange aggregators and more. The services will expand to offer a cryptographically secure derivative trading as well as a real-time transactional currency.
Who’s behind it?
Stephen Mullens is co-founder and CEO, with expertise in corporate governance, risk management, JavaScript, Python, SQL among others. He also held several positions at Schlumberger. He has a Master’s degree in Physics from the University of Nottingham.
Rin Chwe is co-founder and head of operations. She is an entrepreneur who also founded
Snovits and Dental Province. She holds a Master’s degree in Business Administration and Management from Cardiff Metropolitan University.
Manu Datta is co-founder and CTO, with experience as senior developer for top banks, including Barclays, Morgan Stanley and Lehman Brothers. He studied Business Technology at the Indian Institute of Technology, Madras.
14. VVTOKEN
Inception Score™: 84%
Amount Raised: USD $6,100,000
ICO Date: 22 Jan 2018—unknown
Founded: 2017
Number of Founders: 1
Headquarters: Belize
What is it about?
VVToken is a platform that offers blockchain-based payment security while delivering financial appreciation to cardholders through two products: CyberBank™ Platinum Debit Card for unbanked and low-income consumers, and the CyberBank™ Black Card, a cryptocurrency-based debit card that allows the transfer of numerous currencies.
Who’s behind it?
Lucas Sodre is the founder and CTO. He is an integration API specialist and the architect of mnichannels and Point of Sale software which are used by banks. He holds a Bachelor’s degree in Computer Science from the University of Toronto.
15. Decentralized Loyalty Token
Inception Score™: 82%
ICO Date: 16–30 Jan 2018
Founded: 2017
Number of Founders: 1
Headquarters: Seychelles
What is it about?
Decentralized Loyalty Token is a loyalty program for customers and business people who want to build leads. DLT connects gamification marketing with loyalty as well as customers’ need for money and merchants’ need for profit by introducing a cryptocurrency to loyalty programs.
Who’s behind it?
Grzegorz Sperczyński is CEO and founder. He authored a book on assets building in early-stage companies. He previously founded a seed capital and VC fund, and the Rcpartners initiative that supports implementing new technologies. He studied Management at the University of Warmia and Mazury.
16. Origin Trail
Inception Score™: 80%
ICO Date: 15 Jan—28 Feb 2018
Founded: 2013
Number of Founders: 3
Headquarters: Slovenia
What is it about?
OriginTrail enables data sharing on all kinds of supply chains, helping companies in exchanging relevant data and securing a means for increased accountability, brand protection, and efficiency.
Who’s behind it?
Tomaž Levak is co-founder and CEO, with experience in managing tech projects in the Middle East and Europe. He holds a Master’s degree in HR Management from the University of Ljubljana, and a Bachelor’s degree in International Relations.
Žiga Drev is co-founder and COO, with experience in managing complex supply chains in Europe and Asia. He holds an MBA from the University of Ljubljana, and a BA in International Relations and Affairs.
Branimir Rakić is co-founder and CTO, with experience in optimizing telecom networks and powering supply chains with the blockchain technology. He is an adjunct lecturer at SAE Institute. He holds an MSc in Electrical and Computer Engineering.
17. CryptoBnb
Inception Score™: 80%
ICO Date: 15 Jan—15 March 2018
Founded: 2017
Number of Founders: 1
Headquarters: UAE
What is it about?
CryptoBnB is a rental and tenant matching marketplace, which aims at improving options available to travelers. It offers more search efficiency, lower short-term rental fees, and more flexibility using blockchain smart contracts.
Who’s behind it?
Tariq Alwahedi is a founder and FinTech entrepreneur, with over 20 years of global work experience across diverse sectors, including oil and gas, construction, food and beverage, and real estate. He holds a BSc in Petroleum Engineering from The University of Tulsa and an EMBA from Kellogg School of Management.
How do we score companies?
The Inception Score is based on a Monte Carlo wrapped machine learning algorithm developed at NYU where we analyzed more than 6,000 startup founders based on their educational background, work history, startup experience and personality (deduced using AI from analyzing their digital footprint).
We input this data into our patent-pending algorithm which then generates multiple seed-stage investment portfolios of startups predicted to be successful. The percentage represents the number of times each startup is selected in 1,000 iterations of portfolio generation. With backtesting, overall accuracy is 95% and the true positive rate is 70%.
READERS OF THIS POST ARE NOT TO CONSTRUE THE CONTENTS HEREIN OR ANY PRIOR OR SUBSEQUENT COMMUNICATION FROM THE AUTHOR AS LEGAL, TAX, OR INVESTMENT ADVICE. EACH READER SHOULD CONSULT WITH AND RELY ON ITS OWN PERSONAL COUNSEL, ACCOUNTANT, OR OTHER ADVISORS AS TO LEGAL, TAX, AND ECONOMIC IMPLICATIONS OF THE INFORMATION DESCRIBED HEREIN AND ITS SUITABILITY FOR THE READER.
Which startups raising funds through ICOs are most likely to succeed? Using Aingel’s AI based Deal Flow Analyzer, we generate an Inception Score™ that helps investors identify the next game changing companies in the blockchain space.
Here are the top 31 blockchain startups our algorithm picked out of 252 ICOs that launched from October to December 2017:
1. Linda Healthcare
Inception Score™: 99%
ICO Date: 17 Nov — 18 Dec
Founded: 2017
Number of Founders: 5
Headquarters: US
Linda Healthcare is developing natural language processing for primary care. The Linda Health Coin (LNDA) allows people to purchase Crypto Health Insurance via an AI Virtual Medical Assistant App.
2. SyncFab
Inception Score™: 97%
ICO Date: 15 Nov 2017–15 Feb 2018
Founded: 2013
Number of Founders: 4
Headquarters: US
SyncFab is a blockchain based P2P manufacturing network that matches purchasers with manufacturers. The company is creating a platform for the virtual e-commerce supply chain, data mobilization and machine learning.
3. Proof
Inception Score™: 96%
Amount Raised: USD $1,700,000
ICO Date: 1 Nov — 1 Dec
Founded: 2016
Number of Founders: 3
Headquarters: South Korea
Proof, Inc. is a blockchain based platform that allows users to invest in real estate shares starting from USD $2. Proof acquires high-yielding discounted properties and offers ownership stakes as “Smart tokens” on the Proof market, making real estate investments more accessible to medium and lower income people.
Rentberry is a decentralized rental platform that connects tenants and landlords. It provides tenants with a way to reduce the requirements on rental security deposits, and currently manages over 224,000 properties in 5,000 cities across the US.
5. GUTS
Inception Score™: 94%
ICO Date: 15 Nov — 15 Dec
Founded: 2016
Number of Founders: 4
Headquarters: The Netherlands
GUTS is a blockchain based ticketing system that registers the ownership of SMART-tickets. The system aims at eliminating fraud as each ticket can only be sold at a fixed price, and users are not allowed to make profit from the resale.
White Rabbit is a plug-in for major internet browsers that allows users to securely pay for content streamed to their devices based on recognition of films or television series that are being watched.
7. LiveTree ADEPT
Inception Score™: 94%
ICO Date: 01–15 Dec
Founded: 2015
Number of Founders: 5
Headquarters: UK
LiveTree’s Advanced Decentralized Entertainment Platform for Transparent distribution (ADEPT) is a next generation open platform that enables people to own what they watch, be part of it and get a cut of it.
8. Insights Network
Inception Score™: 94%
ICO Date: 12–27 Dec
Founded: 2017
Number of Founders: 3
Headquarters: Cayman Islands
Insights Network is a marketing research firm that matches providers and requesters of data through a blockchain network that rewards participants in Insights (INS) tokens.
9. SPECTRE
Inception Score™: 93%
ICO Date: 17 Nov — 10 Dec
Amount Raise: USD $6,403,261
Founded: 2017
Number of Founders: 4
Headquarters: UK
SPECTRE is an Ethereum blockchain based broker-free financial trading platform that eliminates brokers from the system, promising to hand power over to the retail traders. Short for Speculative Tokenized Trading Exchange, the platform predicts financial markets with a tokenized liquidity pool owned by ICO investors.
10. Crypterium
Inception Score™: 92%
ICO Date: 31 Oct 2017–13 Jan 2018
Founded: 2017
Number of Founders: 4
Headquarters: Cyprus
Crypterium is a crypto-bank on a mission to offer an integrated banking service for innovative blockchain based ideas. Crypterium will provide the same services offered by traditional banks through crypto-assets such as tokens and cryptocurrencies as opposed to money.
DOVU is a mobility cryptocurrency powered by blockchain that aims at simplifying access to transport data and facilitating payments for mobility services through one global token, which can be used for buying bus and train tickets, renting bikes or cars and sharing personal vehicles.
12. Jibrel Network
Inception Score™: 90%
ICO Date: 27 Nov 2017–26 Jan 2018
Founded: 2017
Number of Founders: 3
Headquarters: Switzerland
The Jibrel Network provides financial assets in currencies, equities, commodities among others as ERC-20 tokens on the Ethereum blockchain. Jibrel allows anyone to tokenize real-world assets, allowing autonomous organizations to diversify crypto-holdings into stable assets.
13. Bankera
Inception Score™: 90%
Amount raised: USD $43.9M
ICO Date: 27 Nov 2017–27 Feb 2018
Founded: 2017
Number of Founders: 1
Headquarters: Lithuania
Bankera is a digital fintech solution that provides blockchain-based banking services similar to regular banks. Its digital bank aims at decreasing banking costs for consumers and promises businesses improved cash flow.
Horizon State is a blockchain based voting system that prevents tampering with results, and seeks to override current outdated means of decision making and engagement through its digital ballot box.
15. Wys (Wys Token)
Inception Score™: 89%
PreICO Date: 17 Nov 2017–31 Jan 2018
ICO Date: 31 Jan — 28 Feb 2018
Founded: 2017
Number of Founders: 3
Headquarters: Germany
Wysker is the first blockchain-powered mobile shopping app, which allows users to earn wys tokens for product views and turns consumer data into discounts.
16. Utrust
Inception Score™: 88%
ICO Date: 2–20 Nov
Founded: 2017
Number of Founders: 3
Headquarters: Switzerland
UTRUST is a payment platform that allows buyers to pay online with their most preferred cryptocurrencies, offering payment protection that minimizes the risk of fraud.
17. CrowdHolding
Inception Score™: 88%
ICO Date: 1 Nov 2017–31 March 2018
Founded: 2016
Amount Raised: USD $343,000
Number of Founders: 3
Headquarters: UK
CrowdHolding is a social network that connects start-ups with individuals. New products are shared on the platform with companies pledging a percentage of their earnings to individuals on the network in exchange for feedback.
18. WaBi
Inception Score™: 88%
ICO Date: 28 Nov — 27 Jan 2018
Founded: 2013
Number of Founders: 2
Headquarters: Singapore
WaBi is developing a global blockchain based loyalty program using a cryptocoin to reward consumers for their purchases, providing discounts, bonus points and improved delivery terms with each purchase.
BitDegree is a blockchain-powered online education platform that provides token scholarships and talent acquisition in the tech space, offering students online courses with a reward system and achievement tracking.
20. MedCredits
Inception Score™: 86%
ICO Date: 17 Oct — 30 Nov
Founded: 2016
Number of Founders: 1
Headquarters: US
MedCredits is a blockchain based platform that connects patients with a global network of doctors, providing more efficient and affordable healthcare. It allows patients to access healthcare by submitting their cases remotely and receiving near instant diagnoses.
21. VLB
Inception Score™: 85%
ICO Date: 27 Nov — 17 Dec
Founded: 2016
Number of Founders: 3
Headquarters: Estonia
VLB stands for Vehicle Lifecycle Blockchain, which is bringing numerous car-related industries such as OEMs, dealers, manufacturers, claim managers, banks, car owners and insurance companies into an integrated vehicle lifecycle system.
22. BlockMason (Credit Protocol)
Inception Score™: 85%
ICO Date: 8 Oct — 8 Nov
Founded: 2016
Number of Founders: 3
Headquarters: Belize
BlockMason is introducing a platform that creates, tracks and settles debts. Through its Credit Protocol, all forms of debt and credit requests on the blockchain (e.g., consumer loans, university meal vouchers, gift cards, etc.) will be recorded.
Mobius aims at connecting developers to the blockchain ecosystem by integrating blockchains into apps, devices and data streams. Developers can distribute and grow blockchain applications that can be adopted by the masses through the live DApp Store.
24. Earth Dollar
Inception Score™: 84%
ICO Date: 11 Nov 2017–11 Jan 2018
Founded: 2014
Number of Founders: 4
Headquarters: Worldwide
Earth Dollar is a blockchain based cryptocurrency that supports the health of the Planet with traditional currency features to create a more sustainable economic system.
25. WELL
Inception Score™: 84%
ICO Date: 01–31 Dec
Founded: 2015
Number of Founders: 1
Headquarters: US
WELL directly connects patients worldwide with healthcare professionals, including doctors, therapists, psychologists among others. The WELL tokens will solve cross-border payments and data accessibility, making it possible for quality healthcare providers to serve anyone, anywhere in the world.
Aurora is a suite of decentralized applications and protocols that comprise an autonomous banking and finance platform to anyone in the world across geographic locations and social classes.
27. INS Ecosystem
Inception Score™: 83%
ICO Date: 04–25 Dec
Founded: 2016
Number of Founders: 2
Headquarters: Russia
Launching and scaling the online grocery sector in Russia, INS Ecosystem connects consumers and grocery manufacturers to facilitate operations and tokenize consumer loyalty rewards.
28. Crypto20
Inception Score™: 82%
ICO Date: 16 Oct — 30 Nov
Founded: 2017
Number of Founders: 4
Headquarters: Cayman Islands
Crypto20 is a cryptocurrency index fund that uses ICO funding for purchasing crypto assets and keeping track of the crypto market performance. It helps investors own a diverse crypto-portfolio by facilitating decision making, cutting out brokers, and addressing volatility and high risk.
Grid+ allows consumers to buy and sell energy at the most economic price in realtime through wholesale electricity markets, promising to reduce bills by around 40%. A smart device predicts usage and purchases electricity ahead of time from the most cost-effective markets.
30. ReOrder
Inception Score™: 81%
ICO Date: 7 Nov — Unknown
Founded: 2016
Number of Founders: 3
Headquarters: US
ReOrder is a blockchain based automation technology that uses cryptocurrencies to allow clients to increase efficiency and sales of retail enterprises including restaurants, hotels, etc.
31. Wala
Inception Score™: 80%
ICO Date: 01–11 Dec
Founded: 2015
Number of Founders: 2
Headquarters: South Africa
Wala is a financial platform that offers emerging market consumers and the unbanked population accessible and affordable financial services. It aspires to remove barriers and increase banking accessibility for everyone.
How do we score companies?
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Ten African ventures were awarded for excellence in mobile and tech at the annual AppsAfrica Innovation Awards 2017 held in Cape Town, where Mazady, a TA Telecom product, won the mobile commerce category.
More than 300 entries were submitted for the awards this year with finalists judged by an independent panel of leading industry experts from across the ecosystem. Mazady was shortlisted for the mCommerce award with VConnect, Jumia, and DressMeOutlet from Nigeria as well as Farmart from Ghana.
“It is fantastic to see the growth each year, with entries from over 31 countries this year. Even more encouraging is how rapidly African start-ups are now scaling to compete with established corporates with winners from both,” said Andrew Fassnidge, Founder of AppsAfrica.
Mazady is the first mobile-based auction service in the world that maximizes the m-commerce opportunity for mobile operators, retailers, and consumers, empowering users with an affordable and engaging tool that helps them beat inflation and buy products at hugely discounted prices for as little as 70 percent off the market value.
“Mazady empowers users with a Black Friday-like experience from the comfort of their mobile phones, giving them access to technology at affordable prices,” said Mohamed Ezz El-Din, Mazady’s Product Manager.
Mazady users bid through SMS in scheduled auctions to purchase a wide range of tech products, including smartphones, tablets, television screens, appliances, and more. Mobile users subscribe to Mazady’s service and once subscribed, they can start texting their bids to win the auctioned item at an average cost of around USD 1.
Currently running in Egypt, the UAE, and rolling out soon in Nigeria, Mazady succeeded in running more than 100 auctions for multiple tech products, including the iPhone 7 which was auctioned during its launch week in Egypt for EGP 1,500 at 88 percent off its EGP 13,000 market price.
Mazady also ran charitable auctions for celebrity products such as the famous heart-patterned tie of renowned heart surgeon Sir Magdi Yacoub, which raised EGP 27,000 in donations to the Aswan Heart Hospital.
“Innovative services like Mazady will significantly help expand the mobile value chain in Africa, contribute to mCommerce and grow the mobile economy on a Continent which has the world’s fastest mobile subscriber growth,” said Sherif Radi, TA Telecom’s Chief Operating Officer.
“This year produced a vast array of great entries from exciting new technologies utilizing AI, bots, and drones to mobile, health and education initiatives scaling across Africa,” said Fassnidge.
The leadership programme will include:
