The problem
1. The creative production process in the media industry does not involve insights from the end users into the decision-making process. Decisions are mainly based on artistic intuition.
2. Neuromarketing companies offering similar solutions are not focused on making their products easy to use for new customers and have not implemented timesaving automatizations to increase the commercialization of the products. Further, the general pricing on the market excludes most medium-sized businesses and makes it hard for researchers to find sufficient funding to purchase an adequate number of licenses to fit their ideal needs.
The solution
The value proposition to the startup’s customers (both in new and existing markets) is enhancing product quality by acquiring and analyzing customer feedback on both individual and audience levels in a low-cost and high-validity solution. This has not yet been feasible for their customers, and they have had to rely on either poor, expensive, or no solutions.
The market
The beachhead market for the solution is short-format media productions that can be approached with a low-cost and low-risk solution that significantly optimizes the chances of intended success.
Sales cycles are shorter, which will help the startup get traction faster. The solution is one of the few solution providers within the space. The USPs are process optimization and quality enhancement, which makes the product more readily adopted. The current scope of the business is Scandinavia, where potential customers can be divided into 5 segments:
1) Broadcasters (DR, TV2, etc.)
2) Distributors (Nordisk Film, Square One Entertainment, SF Film)
3) Producers (established as well as upcoming graduates from film schools)
4) Film schools (Danish Film School, Super 16, Super 8, The Norwegian Film School etc.)
5) Marketing (Dansk Reklame Film, M2, etc.).
The startup has started a dialog of a collaboration with the German distribution company Square One, and is in the planning process of performing testing on the trailer for the new Holywood film ONE LIFE, starring Anthony Hopkins.
The team
One female co-founder with previous startup experience, and two master's degrees to support her in the role as CEO.
A co-founder CTO with a Master of Science in Information Technology is the main inventor of one of the company’s innovative tech products - with previous experience from both startup and manager positions in the private industry.
The third co-founder, our Software Architect, has extensive experience as a full-stack software developer, game creator, and entrepreneur.
Finally, our fourth co-founder has a Master's in bioengineering and qualified experience in data processing, quantitative analysis, machine learning (AI), and software coding.
Additionally, we hire software engineers and a licensed psychologist.
Funding
The startup received its first funding via nationally administered EU social funds in late 2021 (before officially establishing the company), with a combined worth of 70.000-100.000KKK.
Later they won a regional startup of the year award associated with 300.000 DKK. Followed by investments from the Innovation Fund Denmark in the scale of 280.000 DKK and an additional 760.000 DKK.
In the spring of 2023, they won a university scholarship of 250,000 DKK and received an additional 150,000 DKK in support from Beyond Beta.
Most recently they managed to elevate the level of funding to direct EU support - gaining an additional 400.000 EUR to the international consortium they have created (and are the lead of).
Lastly, the startup has been conditionally approved to receive an even larger EU ticket, which they are currently negotiating terms and conditions for.
