Europe's Seedcamp winners announced
The winners of Seedcamp, the new incubator-style event for European startups, have been announced. In an extraordinary decision the 36 judges (made up of Seedcamp investors including nine of Europe’s top VCs, mentors and Seedcamp board) have decided to fund not five but six of the companies out of the original 20. They are (in no particular order):
“Project Playfair / Hypernumbers”
Currently still in development, Project Playfair – coming out of Scotland in the UK – is about “hypernumbers”. What hypertext did to text, they want to do to numbers. It’s a bold and fascinating idea, one application of which could be collaborative spreadsheet working were each cell talks to another cell on another spreadsheet held elsewhere. Chair of the judges and Seedcamp founder, Saul Klein said: “This team had a night and day improvement from Monday to Thursday. Its almost a classic seed investment. It’s a massive leap of faith, but you have got to want to encourage people who want to do for numbers what happened to text. It’s Excel 2.0. This is an extremely technical team who have solved tough technical issues in their space.”
(site in development, but it has a working application)
Kublax syncs with all your bank accounts, utilities, even loyalty schemes like Air Miles and presents all the information in a user friendly format so that you can track your incoming and outgoing cashflow and start to really analysise your personal finances. All the key information (log-ins etc) stays on the desktop in hyper-encrypted files, they claim. It also creates a social network around your personal finances where key information is not revealed but the “crowd” can source intelligence on investments, savings accounts, mortgages, you name it. Saul Klein said: “The consumer proposition is killer. I would love to see with one click all my spending information in one place and visually graphed. We have not had a desktop publishing revolution in the personal finance space. Now personal finance handling doesn’t have to be a desktop application but live and networked. You can even benchmark your spending habits against other people. Sites like Mint are venture backed in the US but this business is very local and can be integrated with local markets. Even though there is a US model the US sites have not been out long. The team has done a lot with nothing. Plus, they are Open Coffee alumni who have really gone all out to get into the entrepreneurial space.”
This site connects owners and renters, through an online market place providing goods for the renter and capital for the owner. The idea resembles eBay but instead of purchasing, the model is based on renting. Saul Klein said: “Ed Spiegel, the founder, started his first business at university. He went from there to Silicon Valley to be in business development which shows his tenacity. He went from Silicon Valley to be a senior associate in venture funds. He’s seen startups from the inside as an investor and employee. He’s been doing all this so he could do his own thing. He left, went to business school and used his time to find the right software firm in Bulgaria. He moved to Amsterdam to set up the business and bought a boat to run it from. He launched his site this week based on the advice here at Seedcamp. Although it’s a proposition that some might describe as ‘Web 1.0’ we’ve all seen that there have been business opportunities that tried to launch in the late 90s but the market wasn’t there. But if you get the timing right it can really take off. Ed is tapping into trust networks and by integrating with Facebook he has a trust network of 37m people. He’s tapping into a big trend. This notion that it has to be a novel idea is nonsense, it’s the right idea at the right time with the right people.”