Ennsar is using algorithms to create value for people in real life. By creating meaningful connections, we improve business life of our users.
The working prototype of the app is ready for tests. I negotiate with pilot customers to sign the contracts. I have organized support from my university to get students as first employees. A facebook campaign is in planning.
The customers are trade and exhibition organizers in Germany and worldwide. According to data from the Global Association of the Exhibition Industry (UFI), there are around 1,200 exhibition venues and 31,000 exhibitions a year worldwide. Around 4.4 million exhibitors and more than 260 million visitors gather at these more than 31,000 exhibitions a year. Germany accounts for 10 per cent of the world’s trade fair market. The revenue in Germany was in 2019 4,1 billion dollars. The market stagnated during the pandemic but did not drop. Main challenges of organizers are at the moment: home market, global market digitalization. Sources: https://www.auma.de/en/media/reports/euro-fair-statistics-2018-published https://www.statista.com/statistics/378520/most-important-issues-facing-the-exhibition-industry-worldwide/ https://www.statista.com/statistics/378520/most-important-issues-facing-the-exhibition-industry-worldwide/
Problem or Opportunity
How to engage visitors of offline and online events and create meaningful connections between them.
Solution (product or service)
A networking app with a matching algorithm in the background. Short, 1-1 time-boxed video calls between the users. After the time slot, the user speaks with another user. For the moment the algorithm uses mathematical equations to match people, but an artificial intelligence solution is planned. In the end, the user decides with whom he wants to keep connected after meeting and comparing many people.
Airmeet (https://www.airmeet.com/) is a software offering a networking tool similar to mine. They have a random matching algorithm. Remo (https://remo.co/) offers a similar tool. Icebreaker (https://icebreaker.video/) offer gaming in pairs with a random match.
Advantages or differentiators
I focus on matching and the user can use a platform of their choice for the event itself. I offer support of offline events as well.
Revenue streams are from the user subscriptions. 31000 exhibitions * 20 % (market coverage) = 6200 $ 6200 * 5000 (price per exhibition) = 31 000 000 $ The costs are server costs and employee costs. Server costs 20000 $ a year. Employee (students): 30000 $ a year.
A subscription based model based on the amount of events organized per month and the amount of participants. My main metric will be new subscriptions per month.
Money will be spent on
Improving the user experience of the app. Creating a booking system for the customers to be able to book themselves. This will improve the scalability of the solution.
Offer for investor
I offer to participate in the change of mentality of people. I am a motivated person and am able to cooperate well. The shares can be arranged depending on the needs of the investor.
The number of users for international events - the infrastructure of the app must be ready. The competitors will copy the idea - I am in discussion with a market research agency to find additional features for the users.
Incubation/Acceleration programs accomplishment
Xplore of UnternehmerTUM, Entrepreneurship Masterclass of Stiftung Entrepreneurship