by silvia | Mar 18, 2019 | Corporates, Investors, Startups, Uncategorized
Smart Open Lisboa (SOL) is an ambitious initiative that aims to involve startups and their innovative solutions in contributing towards a better, smarter and more efficient city. Its third edition gains steam, as the Bootcamp phase of SOL Housing kicks off today in Lisbon. The Housing vertical is dedicated exclusively to solutions for smart cities focused on the value chain of the commercial and residential real estate.
The Bootcamp will happen between 18 and 22 of March, in Beta-i’s headquarters and it brings 19 selected startups from the applicants batch to meet the program partners.
The chosen startups are Alfredo AI, Bead, Buildtoo, Doinn, Enerbrain, Heptasense, Howz, idatase,Lumen Cache, MClimate, Meazon, Mycroft Mind, Nice Visions, Nudge Portugal, Onegrid, Parquery, Proximi.io, Trustbill e WearHealth Team.
You can read more about them here.
Started in 2016, Smart Open Lisboa, now in the SOL Housing vertical, is turning the city of Lisbon into a laboratory of experimentation, with utilities and companies working with startups to solve problems and make the citizens’ lives easier.
The program is backed by the city hall (CML) and it partners up with several major players in the market. Together they are making Lisbon an entrepreneurial city, making an investment into upgrading city life.
Read about the partners of the program here.
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by silvia | Mar 15, 2019 | Corporates, Investors, Startups, Uncategorized
When starting your own business or growing your own startup KPIs tracking is one of the most important tools you can use to keep your growth on track and measure the viability of your business. We’ll walk you through the traditional and news ways of doing it.
CAC:LTV Ratio
Traditionally, the CAC:LTV Ratio is the most used KPI. This important KPI measures the sustainability of your company. This ratio can be broken down into two metrics:
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CAC: Client Acquisition Cost
In a nutshell, this metric indicates how much money your company spends to acquire a new single customer (through marketing, advertising, sales, including salaries and overhead).
Essentially, the lowest the CAC, the better, so a high CAC can mean flaws in your sales process, and a growing CAC can be a sign of trouble (as your CAC is expected to reduce with time as you build your brand), but it depends on the situation: it’s not a problem if you’ve introduced a new product or service with much higher margins. Essentially, following your CAC can help you optimize your return on investment.
- LTV: Customer Lifetime Value
This metric measures how long a customer or user remains a client, on average, determining how much business value will derive from each customer.
Combining these two metrics into the CAC:LTV ratio, you get an indicator of the sustainability of a company. For a business to be successful, it must be able to drive more income from its customers, than the money it invests to bring them onboard, and to actually deliver the product/service the customer is receiving.
Although the CAC:LTV ratio has been traditionally used by investors and venture capitalists as a measure of growth and viability, there’s a new more viable KPI that was introduced by Social Capital and is used by Venture City and also by our own team in Lisbon Challenge by Beta-i – the Quick Ratio.
The Quick Ratio
The Quick Ratio is a shortcut metric to define where the product stands in terms of growth. It combines growth, retention and churn into one number that describes how efficiently your product is growing.
Essentially it’s the ratio between the new and resurrected clients over the clients lost in that month. Simply, if a Quick Ratio is >1 the number of users is growing and if it is <1 the number of users is declining.
It’s important to always see the number of lost clients in relation to the acquisition and retention of clients because it can tell you important information to base your next steps on. A company with a high retention rate doesn’t need to make a big effort in sales to keep growing steadily (as opposed to a company with a lower retention rate that would need a bigger client acquisition to keep growing at the same rate).
provided by The Venture City
A lower retention rate means you need to put efforts into bettering your product, and a low acquisition rate might mean you need to rethink your marketing strategy.
The only way to have a high ratio is to keep both acquisition and retention high – that means your product has a healthy life.
The advantage of using the quick ratio is that you can apply it for your product even when you don’t have paying customers yet, or apply it to several parts of the business in order to understand its challenges.
As Eduardo Sette Camara, Lisbon Challenge by Beta-i’s Head of Acceleration put it:
In a gross simplification, sustainable revenue and growth is the end result of capturing value through a great product/service delivery. But if you want to go to the core of what drives that growth, slice up the problem and variables, and really understand what sticks, applying the quick ratio calculation to more and more granular information can deliver those insights. It’s about trying to understand cause and effect.
This is why most VCs are looking into this metric as a way of evaluating the companies they want to invest in – and so should you.
by silvia | Mar 12, 2019 | Corporates, Investors, Startups, Uncategorized
Blockchain is a technology with the ability to disrupt several industries (we wrote about it in our 5 Fintech Trends of 2019). It has several uses, and the technology aims to create a secure, transparent, decentralized payments system. It’s most popular use is to create cryptocurrencies.
The problem with cryptocurrencies
We all have heard the stories about people who became millionaires by investing in bitcoin, and also the stories of it losing its value just a few weeks later.
This happens because cryptocurrencies’ value is centered around speculation, so they fluctuate on a daily basis, which makes them unreliable as a currency.
Stabecoins aims to help in this regard – having the benefits of cryptocurrencies – transparency, security, privacy, simplicity) but without the volatility that comes with it.
What are stablecoins
Just like other cryptocurrencies, stablecoins are digital money that aims to mimic traditional stable currencies.
How? Well, just like other currencies, stablecoins are collateralized to the value of an underlying asset (which can vary). In general, there are 4 types:
- Fiat-collateralized Stablecoins: These coins are backed by fiat currencies (like USD, EUR or GBP), which means that as long as that country’s economy stays stable, so is the currency.
- Commodity-collateralized stablecoins: These coins are backed by other commodities like gold and other precious metals, oil, and even real estate. They have the potential to value overtime and make investing in gold or real estate achievable for everyone.
- Crypto-collateralized stablecoins: These are stablecoins backed by other cryptocurrencies. They are very decentralized because everything runs on the blockchain and enjoy more liquidity. They have not gained much tractio mostly because of its complexity.
- Non-collateralized stablecoins: These coins use an algorithmically governed approach to control the stablecoin supply. This is the most decentralized and independent form of stablecoin, as it isn’t collateralized to any other asset. However, it requires continual growth to be successful.
(Read more about the different types of stablecoins here.)
How can stablecoins help in the real world
Although complex in its structure, stablecoins can be a reality and bring a lot of advantages to users.
They can be used as a day to day currency, enabling digital payments everywhere and reducing the risks of cash use.
It can streamline recurring payments and P2P payments, making it easier for employers to have employees working remotely from all over the world.
Stablecoins can also be useful in diminishing inequality and helping developing countries around the world – the money sent by migrant workers to their families can now reach them in a faster way, with much lower fees, and without the stress of volatility of current cryptocurrencies.
It can also protect citizens in case of a crash of the local currency and hyperinflation.
Where is the future going
With all its advantages, there are still some setbacks for stablecoins: fiat-backed stablecoins are managed by a single entity, which means there is a need for a regular transparent audit of its reserve, to guarantee that the entity is actually backing up their stablecoins with real fiat.
It’s also constrained by the same regulations as fiat-currency, which means conversion is less efficient, and it has less liquidity.
There’s also the chance that the asset backing the currency crashes (be it fiat or other cryptocurrencies).
Stablecoins are still in the beginnings of its development and it’s still far from a mature level. However, its stability and advantages are certainly the reasons it might help cryptocurrencies come to the mainstream.
by silvia | Mar 8, 2019 | Corporates, Investors, Startups, Uncategorized
The European tech community is still dominated by men – The State of European Tech Report shows that only 22% of tech-event attendees are female, having made little progress from 2017 to 2018.
Portugal ranks in the top 10 countries with tech events more attended by females, with a proportion of female attendees that is only 25% (the highest ranking country is Albania with 33%).
Even though the community is far away from the ideal rate of gender diversity and inclusion (especially when it comes to investment as 93% of all funds raised by European VC-backed companies in 2018 went to all-male founding teams), there are some amazing women who founded startups in Portugal and abroad and are kicking ass in the industry.
Here are some of the Portuguese women-founded tech startups:
Tonic App
An app for medical doctors that aggregates the most useful medical tools and has a secure case discussion platform. It increases the efficiency of clinical work: allows fast and safe discussion of patient cases, team collaboration and aggregates content for day-to-day professional use, such as drug conversion tables or clinical calculators.
Founded Date: Apr 2016
Co-founder: Daniela Seixas
Daniela is a neuroradiologist, with an Executive MBA at IE Business School (2015). With a PhD in Neuroscience (collaborating with the University of Oxford, UK), she founded Tonic App in 2016 with 3 other founders. She is currently Tonic’s CEO and an affiliate professor at the Faculty of Medicine at Porto University.
Levoo
Levoo is an app that aims to become a leading delivery and take-away services company. You can use the app (or their physical kiosks) to order food instead of waiting in line, and you’ll be notified to pick it up when it’s ready – you can use your time for other things in the meantime.
Founded date: 2015
Co-founder: Anna Arany
Originally from Brazil, Anna flew to Portugal almost 12 years ago and was involved in several projects in the food service area. She co-founded Levoo in 2015 and is currently the company’s CMO.
Sparkl
Sparkl provides the world of beauty services in the comfort of your own home. Book an appointment through Sparkl’s website and get a Sparkl-approved professional to deliver the service in your own home, at a fixed rate.
Founded date: 2016
Co-founder: Mariana Romão
With over 6 years of experience in the business of Beauty, Mariana co-founded Sparkl in 2016 and became one of the startups backed by LC Ventures.
Mellow
Mellow is a sous-vide machine that takes orders through your smartphone and keeps food cold until it’s the right time to start cooking for you remotely. A technique that is widely used by chefs and that Mellow makes available at home, with an integrated app that provides smart control.
Founded date: January 29th, 2014
Co-founder: Catarina Violante
With a background in industrial design and postgraduate studies in Product Design, Catarina founded Mellow in 2014. She has designed numerous kitchen products over the years and is currently VP of product.
Talkdesk
Talkdesk is a contact center platform that empowers companies to make the customer experience a competitive advantage for their business. Talkdesk allows business to create a call center in minutes and integrate it with a variety of top business tools.
Founded Date: October 10th, 2011
Co-founder: Cristina Fonseca
Cristina is a software engineer and entrepreneur. She holds a Master’s degree in Telecommunications and Software Engineering and before founding Talkdesk in 2011 she worked as a researcher and built two other online businesses. She currently is a co-founder and Venture Partner of Indico Capital Partners – a leading institutional and independent venture capital firm based Lisbon focusing on Seed to Series A companies in fields like SaaS, Artificial Intelligence, fintech, cybersecurity and digital startups.
MUB Cargo
MUB cargo is an online platform that connects people and companies that need to transport cargo with a network of transporters willing to pickup and deliver those items. MUB cargo gives access to an online platform with several cargo requests that helps transporter maximize their capacity, taking advantage of the average 30% wasted capacity on every trip that is made while helping people in need of cargo transport an easy way to access transportation solutions at affordable prices.
Founded Date: March 2016
Co-founder: Mariana Gomes
With an educational background in Services Management and Business Administration, Mariana is a two-time founder (having previously founded Shairart). She is the Managing Director of MUB Cargo, that closed a Seed Round of €500k in March 2018 and now operates in both Portugal and Spain.
To all women co-founders and tech professionals, we wish a wonderful International Women’s Day!
by silvia | Mar 7, 2019 | Corporates, Investors, Startups, Uncategorized
The Beta-i team keeps growing! Get to know our team, starting with Francisca, from our Education team!
Where did you meet Beta-i for the first time?
A good friend of mine, Mafalda Paiva Chaves, worked at Beta-i and invited me for one of the famous TGIF. I came over, drank a few beers and talked with very interesting people from the team. Loved the vibe since day one!
What do you do at Beta-i?
I manage education programs for different age groups, but currently, my main projects are focused on executive education and university students. However, I also work on developing content around personal development skills for kids and teenagers. The goal is to promote the inward and outward personal exploration, allowing students to develop the awareness, confidence, and knowledge to invest in their own talents.
What is the biggest challenge?
Explain to other people what I do! (laughs). This area is pretty recent in the company and even more in the market, having all the benefits and struggles of a first mover. We started as a small team where all of us needed to do a bit of everything, adapt rapidly and be open to doing (a lot) of things that we haven’t done before. Now we are growing and have the opportunity to focus on specific goals within the Education spectrum.
What is your favorite thing at Beta-i?
Beta-i is always open to try new things and gives space for people to dream while putting them in charge of making the dreams a reality. You have the room to create but you are also responsible for materializing your ideas. If you fail it’s ok, as long as you learn and improve with your failures.
I’m known at Beta-i for…
Making bold questions and giving assertive opinions.
What people don’t know about me:
I’m a firm believer in the power of personal development to live a fulfilled life! So I try to dedicate time each day to work on my personal growth. Currently, this means waking up one hour earlier during the week to read a book (I am a huge fan of the app blinkist, because I can read the highlights of one entire book in a morning), reflect on new learnings and commitments, meditate and exercise. Sometimes I can’t do all of them, but I try to commit to at least two of these activities per day.
by silvia | Mar 6, 2019 | Corporates, Investors, Startups, Uncategorized
The ports and shipping industry is ready to step into the future. Bluetech accelerator has arrived, looking to build the ports of the future: autonomous systems for ports and smart shipping, with seamless processes between sea and land, digital data that will make decisions easy and informed, and new techs that will allow for environmental sustainability. Ready to be a part of it?
Bluetech Accelerator
Born out of the partnership of the Portuguese Ministry of the Sea and FLAD – Luso-American Development Foundation, and powered by DGPM and Beta-i, Bluetech accelerator aims to connect the most innovative tech and ocean startups with leading players in the industry to create a new blue economy – one that is modern, data-based, technologically advanced and environmentally friendly.
To achieve it, the programme will have 3 editions – Ports and shipping, aquaculture and fishing, and energy and sustainability.
Ports and Shipping
The first edition of the programme will focus on Ports and Shipping 4.0. Innovation is arriving in the industry, and as a strategically positioned country, Portugal has a sea of opportunities: startups joining the programme will work directly with Portugal’s biggest ports, relevant players in the shipping industry and leaders in the mobile satellite communications and digital economy – get to know the Bluetech Pioneers here.
The goal is to work towards the ports of the future: a seamless process of shipping, connection and cargo transport to land and accessible information across the supply-chain.
The challenges
The challenges the program hopes to tackle are:
- Process Optimization in Port Hinterland
- Cargo and Fleet Performance Management
- Future Shipping Connectivity
- Environmental Sustainability
You can read a more detailed description of each of the challenges here.
Tech We’re Looking for
Bluetech Accelerator is looking for startups technologies ranging from smart shipping and sea surveillance to big data and analytics. Get to know all the technologies Bluetech is looking for here.
A whole new generation of ocean startups
The challenges presented by the program, are relevant all around the world and can be industry changing. Today is more important than ever to work on changing vital industries to be more efficient, more connected and more sustainable, to better serve our economy and our planet.
Bluetech aims to build a new generation of ocean startups that will be the catalyst of this change and the builders of a modern ocean economy.
Get to know more about the programme here.
