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SPRINGBOARD® in Copenhagen: Startup has developed a product discovery platform helping shoppers find what they want to buy – across millions of products from thousands of webshops

  • 06 Mar 2024
  • 14:00 - 17:00
  • Nest Ejendomme, kl 14:00 til 17:00 pa Palægade 6, 3. tv, 1261 København K
  • 14

Registration

  • Tilmeldingsfrist: 28. februar 2024
  • Tilmeldingsfrist: 28. februar 2024

Registration is closed



Introduction to SPRINGBOARD®

Free-to-use B2C platform built: a product discovery engine, powered by Visual AI Search Models.

Current focus vertical: Fashion.

Retailer product data integrated to engine and shared on platform. [Data access to 240.000.000 products from 1400+ contracts signed with retailers]

Transactional 6% cut collected - on every order placed.

Technology is built with shareable API access and can be sold as B2B SaaS.


Questions for sparring

For this SPRINGBOARD®, panelists are sought who can provide sparring in the following areas:

                      Chicken & Egg: Marketplace Dilemma

                      - GTM Strategy

                      - Market Segmentation

                      - Scope: Narrow v Broad

                      - Vertical Focus

                      - Secondhand v Everything

                      - Distribution / Organic Growth

                      - Expansion

                      Funding

                      - Platform Gearing Pace

                      - Financing Strategy


                          Industry: Internet

                          Development stage: Proof of Concept

                          Region: Capitol

                          Competencies required:

                          • Marketing & Distribution Channels
                          • Financing, Funding & Raising Capital
                          • Business models
                          • Distribution channels
                          • Business Development
                          • Investor Pitch
                          • Communication
                          • Strategy and growth plans


                          The problem

                          ”We all experience the world visually – yet nobody understands how to visually find products online.”

                          Current product discovery sucks in Fashion & Interior. Products are mainly evaluated visually, but eCommerce UX does not support this.

                          Traditional Search is far from meeting consumer expectations and declining attention span. Traditional keyword search does not scale: SKU count = size of business'es pain.

                          Users are forced to scout all pages - often unsuccessfully - on shop after shop.

                          - 98,6% of fashion webshop traffic does not convert. Shoppers are not finding what they look for fast enough.

                          = Technology increases conversion rate by 2.3%.


                          The solution

                          Current focus is on building and expanding a unified product discovery platform.

                          • Helping consumers quickly find and purchase what they are looking for across millions of products from many webshops


                          Three Current Navigation Technologies

                          • Visual Search: Click on a product = get a new feed sorted for visual similar

                          • NLP Search: Describe products visually in text = get a new feed sorted for similarity

                          • Upload IMG Search: Take or upload picture = get a product feed sorted for similarity


                          4th Navigation Technology Coming Up

                          • User personalized feed [Interact with products = surface more similar in main feed]


                          Product database is ready for scaling to millions of products.

                          Search models can handle unlimited user traffic, while being economically sustainable.

                          Search speed on millions of products > 100ms.


                          The business model

                          The solution generates retailers’ free traffic from sharing their products.

                          Shoppers easily and quickly find products they want to buy on the platform

                          • They are redirected to retailer webshops for purchasing.

                          An avg. 6% transactional cut is collected - on every order. [cut ranging from 2-30%]


                          The Team

                          A – CEO & Co-Founder, 10+ yrs business experience, Marketing & AI Product Growth [Raffle AI], Influencer Marketing & Community Building [Daniel Wellington, VeriSure, VeePee, etc.], eCommerce, Marketing & Product Management [Cofoco].

                          B – CTO & Co-Founder, Masters in Mathematical Modelling & Computation from DTU Compute, ex-DTU Compute Research, 1st employee at Raffle AI, 4+ yrs experience as Senior Data Scientist [Prototyping, Building Machine Learning Search & Analytics Models, Building Infrastructure, Hiring Tech Team]


                          Status

                          Raising EUR 500.000 in SAFE from BA’s (Strategic sparring partners + interested in joining upcoming rounds).

                          Have signed contracts with ASOS Germany, MOMOX, Vestiaire Collective, eBay, Amazon + more than 1,400 additional retailers. [Signed with product data access & transactional cut agreed].

                          Have partnered with leading affiliate marketing platform:

                          • • Helps expand the platform partnerships in the Nordics and soon US
                          • • Rev shares when onboarding new retailers
                          • • Signs contract with new retailers on behalf of platform
                          • • Improves product data quality on behalf of platform


                          CONNECT Denmark — Bryghuspladsen 8, 3. sal, 1473 København K — Telefon: +45 27 28 17 86 — E-mail: connect@connectdenmark.com — Sociale platforme:
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