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Ennsar

An app connecting people before and on events.

Germany
Market: Internet and IT, Farming
Stage of the project: Prototype or product is ready

Date of last change: 14.06.2021
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Idea

Ennsar is using algorithms to create value for people in real life. By creating meaningful connections, we improve business life of our users.

Current Status

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.

Market

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.

Competitors

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.

Finance

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.

Business model

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.

Team or Management

Risks

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

Won the competition and other awards

Google For Cloud Hackathon in September 2019

Photos

Photo 1 - An app connecting people before and on events.
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video
Presentation