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A couple of months ago, we launched Eleven Alpha – our fast-track program for outstanding early-stage founders from the region. Today, we are thrilled to welcome the first cohort of “builders of the future” to the Eleven family.
Our team has already started working with the companies on their tailored game plan for the next stage. Based on their needs, we are leading the founders through a variety of company building elements like the process of getting to know their customers better, understanding their pains, needs and jobs to be done. The startups will be refining their value proposition, building their product with the customer in mind, crafting the business model and establishing the company foundations. As part of the game plan they will be working on the go-to-market strategy, sharpening their sales approach and establishing the fundamentals for growth.
In our search for the next builders of the future, we reviewed over 450 applications, from 25 countries. The selection process was rigorous and we are excited to introduce you to the four teams joining #Oneof11 and embarking on their Eleven Alpha journey.
Perfeqt
Perfeqt addresses two global and rapidly growing markets – self-testing and personalized supplements. The growth in both is explained by the rising global health and wellness awareness, the trend towards personalisation in medicine, and nutrition being recognized as a first line preventative measure against diabetes, cardiovascular, hypertension, and other diseases. Traditional laboratory testing, the current option for individuals who seek to monitor their health status regularly, has proved to be an inconvenient, time-consuming, and expensive process, often leaving people grappling with confusing test results.
Perfeqt is an at-home urine test and mobile application that tracks the body’s wellness and provides personalized lifestyle and nutritional advice based on the results. Within the app, the user sees results and explanations about all parameters being tested, and a personalized plan and suggestions for lifestyle and nutrition changes that could improve certain parameters.
The founders of Perfeqt crossed paths while working at a fast-paced startup in the Bay area. They were both wary of their health and began discussing what they can do to take better care of themselves and what vitamins they should start taking. Their research, however, led them to an alarming discovery – many individuals are unaware of the specific nutrients their bodies lack and the steps they can take to address these deficiencies. It was this realization that sparked the idea for Perfeqt.
MyTeam
Sports clubs still live in the past operationally. They lack comprehensive digital tools to optimize their workflow and processes, which currently are a symbiosis of paper based approach, augmented with xls, emails, and phone calls. This leads to a high level of fragmentation and close to zero visibility for the key stakeholders involved. Athletes and/or their parents struggle to keep up with the information distributed from the sport clubs related to schedules, payments, training camps, tournaments, etc., which leads to frustration, timing gaps, and loss of money. Beyond the pure operational aspect of the problem, sport clubs do not have proper digital tools to monitor the progress and performance of the athletes, which is fundamental for their future and mutual success.
MyTeam is a B2B SaaS ecosystem which brings the tech & digital layer in the sports clubs’ management by providing a single platform for the administrative staff, coaches and parents to effectively plan, communicate and pay when it comes to sport activities. MyTeam helps sport clubs to optimize their daily operations via a single web based platform, while at the same time it allows the athletes (and their parents) to stay up to date with all aspects of their sports life.
MyTeam was born out of the personal struggle and experience of Dimitris, one of the co-founders, who experienced firsthand the difficulties of being a professional basketball player and coach, as well as a dedicated parent. His personal struggle and frustration with the end-to-end process of planning, organizing and completing a simple training class in basketball became a driving force behind the creation of MyTeam.
True Insights
When it comes to product listings online, every element has a crucial role in driving conversions. From the attention-grabbing title to the compelling product description, eye-catching images, relevant keywords, and authentic ratings and reviews – each component plays a pivotal role in determining the success of a product page. Unfortunately, many online store owners struggle to optimize these elements to enhance their conversion rates. Often, they lack the expertise and resources to assess the effectiveness of their product pages, leaving them clueless about how to improve them. This leads to subpar product pages that fail to entice potential buyers, resulting in low conversion rate and brands losing revenue due to resolvable issues.
True Insights is a SaaS product, which helps ecommerce brands and store owners to 1) analyze the quality of their product pages and listings, 2) track and compare products of their competitors, 3) find out what could be improved, and 4) receive content improvement advice. The product uses their own AI algorithm to spot the specific elements, their variables, and to return results of the product listing state.
Nikola Tanev is the mastermind behind True Insights, which is a result of 5 years supporting big FMCG brands on improving their ecommerce strategies (Red Bull, Zewa, Ecotone, Bosch, Nestle, Braun and others) with his ecommerce agency.
FlatAway
Rental platforms are becoming increasingly popular with the record levels of remote worker adoption and as millennials become the newest generation of home renters. FlatAway addresses the underserved demand of the multi-billion dollar digital nomad rental market, solving the main problems for landlords: operational hassle, piled-up costs, and time-consuming guesswork involved with utilizing multiple property management software providers and services.
FlatAway provides housing as a service to the remote generation. The platform features professionally managed properties that can be rented for flexible periods (from 2 days to 5 years) for frequent business travelers, remote workers, and expats. In addition, it has a subscription model enabling digital nomads to switch places hassle-free, paying the same monthly rent regardless of the location. FlatAway bridges the gaps in the rental space by offering truly flexible stays in a wide range of budgets at zero cost to the renter.
Boris, one of the minds behind FlatAway, made the bold decision to leave his finance job in the UK and return to Bulgaria in 2017. With his savings as his only source of income, he set out to launch a fintech startup. However, a lengthy rental agreement forced him to continue paying rent on his London apartment for an additional six months, placing a significant strain on his finances. It was during this challenging period that the idea for FlatAway was born.
We are confident that our Eleven Alpha founders will make a significant impact in their industries and beyond and we are excited to see their progress in the coming months. Stay tuned for more insights and updates on their journeys!
