A business model for ‘DataBroker’
The Vlerick FinTech bootcamp has come to an end with 8 presentations on 4 different business ideas. The ideas ranged from “concept” to “proof of concept” level, some with a working MVP and others just gearing up for the development phase.
eBay for IoT data
As mentioned in our previous blog posts, we asked Vlerick FinTechers to develop a go-to-market plan for our blockchain-based DataBroker platform. No less than 3 teams out of 8 (pictures below) took up this challenge. We were truly impressed with the depth that the Vlerick the students went in: they managed to develop serious competitive market insights, identified industries to target and gave a number of very practical recommendations on how to improve the UX of interface. Very impressive.
The 3 other cases presented were:
Uber for grocery shopping
An application connecting busy double income households without time with “shoppers” with time to carry out the shopping duties for the household. Nice idea and personally as a household directly in the target market, I do see the value of the service quite clearly. Nice one!
Micro investments for millennials
A cool concept for an investment application bringing together a number of existing concepts to make investing accessible to millennials. Imagine a combination of round-up payment savings, robo-advising and fractional share investing all in one application. Pair these with a cool UI and perhaps there is a winning combination?
Streamlining documentation and invoicing in the construction sector
3 teams took up the challenge of solving a serious pain point for construction contractors. With nearly 60% of contractors citing failure to pay as a risk to their business, there is clearly a lot of friction in the process for payments from homeowners to contractors. Everything gets off to a good start but for a number of reasons, payments remain an issue in the construction sector. This application locks down the contractual terms and automates most of the processes for payment thereafter. 9 times out of 10, the issues are communication related so having a highly automated system should reduce the pain felt by the contractor, the architect, the homeowner and the bank involved. Slick idea and looking forward to following this project as it evolves!
Cool ideas, a lot of energy and we shall see how far the ideas go in terms of commercial viability in the months and years to come. Many thanks to Vlerick for inviting SettleMint to submit a case and to sit on the jury. A huge thanks to the students that took up the SettleMint challenge and stay tuned to hear more about the DataBroker platform!