Meet the Drapers - Talk Show Format

[Music] yeah this is how Hollywood works you know you're seeing the behind the scenes so um okay should we whatever I'm just rolling okay welcome everybody to meet the Drapers so great to have you all here it is so fun to be here Abu Dhabi we're here at the Abu Dhabi Finance week and it's amazing what's happened to Abu Dhabi I come back here about every six months for maybe the last 10 years and every time I come it's a whole new place there are new cities everywhere being built I the first time I was here it was just a desert and maybe a few little Lakes inside the desert now it's just a booming Metropolis I'm so excited to be here the entrepreneurial spirit is thriving here we've seen many really great companies here uh just as we were walking through the k um through the conference it is really exciting to be here in Abu Dhabi are you all from Abu Dhabi or from all over the world Abu Dhabi all right welcome if you're from all over the world if you're from Abu Dhabi thank you for having us here uh so here's what we do at meet the Drapers we interview four entrepreneurs those entrepreneurs uh are all do their best and we we fire at them and then when when they're finished we decide you guys decide and we decide whether one of them moves on to the semifinal the way we do that is you all get to get to vote with your applause and and that vote gets channeled through the through the crystal ball here and then uh and then I try to read the crystal ball and then I tell tell us so who has been moved on to the semi-final well if they don't move to the semifinals you can go out and go to meet theed drapers.com and vote and move some other people on to the finale you can jump them right to the finale so go to meet thed drapers.com uh we now are if you haven't seen our show you can go to Draper TV and you see it and it's absolutely hilarious um they do a lot of editing so it's it's much more interesting than what we show you um so we have today the honor of having three extraordinary judges and since it's called me the Drapers I I always adopt the judges into the Draper family and so welcome to the dra family uh so let me introduce our judges we have well we'll go ladies first has TB is that about [Music] right we have hna hollow yes and hna is a multi-award-winning stock Trader and entrepreneur she's the first Arab American woman nominated is the shewolf of m and you're gonna have to explain that a TV personality partner and CIO at Eno Capital with more than 2.8 billion assets under management we' made that 4.7 with more than $4.

7 billion under management tell us about yourself and and welcome to meet the Drapers and now that I can pronounce your name H Draper perfect how much time do I have month you know actually it was interesting um I went to Cuba and it turns out that Castro spoke for 13 hours straight stood up spoke for 13 hours straight so if you can break that that would awesome um okay so I had very humble beginnings I left Morocco at the age of 17 and I went to the US searching for the American dream um I enrolled to my bachelor's degree at that time and then after I got introduced to the stock market and I was like what the hell can I do today to you know find another source of income for me while I'm studying so the Spock Market was the easiest thing for me because then I can trade penny stocks and I can grow as small I can right um and so I have started little by little find about U mentors to help me do that and then I started my career in morg s after two years and a half I moved to NASDAQ this is where they called me the Shewa from NASDAQ because I was in the trading floor I thought really good party here me that as well um after that I sawo the opportunity in the UA and I was like maybe thee would be the next American dream so I decided to Moose to Abu Dhabi and I started my career with the executive Council that of jajab um so I managed the whole India business Investments Division and after three years I decided to launch my own startup and so what nobody tells you is that it's so freaking hard to being entrepreneur and I just got used to the lifestyle of you know working for the government and and making money in my book how to be the startup hero you got to read my book yeah it shows the first twoth thirds are how hard it's gon to be I know and then the last third just give you K I know and then after like two years I moved to Dubai so I launched the startup there and after two years I decided to exit I was like it's so freaking hard so and then after that I into Capital as a partner in C managing 4.7 bilon congratulations well done good we're it's just great to have you as a judge but even greater to have you a part of the graper family thank you and you have the eyebrows so that helps so so here to my left we have Harry yay is it yay yay Harry har Harry is a highly accomplished hedge fund manager with a proven track record of success in the blockchain and crypto industry Harry has made a significant contribution to the Block Chain and crypto world and Harry has possibly the most interesting apartment in all of Dubai uh Harry tell us a little bit about yourself thanks for having on the show I'm am managing director of group also the co-founder life.com spelled l.com my background is actually software engineering I grew up in Canada Hong Kong my te Microsoft back spent a lot of time in Sil Valley um worked and really really tried as an entrepreneur just the entrepreneur I think from birth for about I think 15 years tried a bunch of things really really um didn't work saw my friends getting Wy from like Google Facebook Uber then I was fortunate enough to stumble upon Bitcoin in 2013 uh I got in bin at about $60 uh started one of the first head funds we built a very very successful OTC business in 2014 2015 we were one of the only people if you wanted to buy five or 10 million bucks worth of bitcoin liquid um we were the ones that were able to do it I had my nice liquidity event in 2017 exi invested in ethereum cardano EOS block one and figured you know I'd come to the UAE and retired this because they're amazing tax benefits here 0% income tax % Capital games um sunny weather all year around and it was actually really amazing one of my one of my friends H and Jonathan they they flew me here totally by random and I stopped in and I saw and I met with three solol the same day I'm a addict and I was walking through here and I was the third person to mooving for the Four Seasons here and it was a complete ghost town uh so so it's it actually like wared my heart to to see how many people came here because about in 2017 I was like this place is going to be the future for blockchain and crypto and now everybody's here and um fast forward you investment projects such like Phantom and and you know we created about 16 billion in market cap value or a hedge fund I was managing about about 2.3 billion about the PE obviously it's been a bit of a roller coaster ride um so that's that's my story and um Harry's apartment is really extraordinary you know as a as a Trader you really need to know a lot of information going on at all times and you know he's he's at the top floor of this beautiful apartment building and you don't see the view at all because you see computer screens all the way around and and the only sort of uh little personality that I thought that was really fun was he has extraordinary bobblehead collection yeah is that uh is that a tell us a little bit about the so so two things actually this apartment it's kind of almost like a museum piece so a lot of the even the investors and people that have come through they they would you know go to I guess the the palace they would go to you know Emirates pal they would go to um you know the mosque and then they would bring them to my apartment to kind of show you know what that entrepreneurs are actually moving here and really build up the space but um the the bble head thing was just Co you were like oh you're trapped yeah we were trapped we needed to buy something little also need people to talk to yes yeah we were we weren't allowed outside for 45 days yeah in the apartment so it was great well so Harry yay dra is now a part of the family and he also has eyebrows we you know so clearly part of the family Zach zapparelli is uh is quite extraordinary uh Zach what I know of him was he started as a child actor and I'm gonna ask you to tell how would you start as a child actor and then become the the head of this extraordinary Enterprise gas Capital so um yeah I I actually started my career my investment career here on stage uh on TV so I was a child actor from the time I was a little kid I was doing commercials I was doing TV uh you know you can find my IMDb page under my stage name Zack Walker it's a long story why my stage name was Zack Walker and there's a prize for anyone out there or in TV Land to come and let us know when they saw Zach in a Star Trek episode oh yeah you gotta find me on Star Trek um so so yeah I started as a child actor and I you know I had all the savings and my grandmother told me you got to buy bonds you got to invest your acting money so I started investing in bonds um and you know I became super fascinated with it I I by the time I was in my you know early teen years I was getting into stocks I kind of stopped listening to my grandmother she was too conservative I wanted to get the stock market B A lot of my acting portfolio in the do uh bubble um then started thinking about risk management and uh you know throughout high school you know always focused on finance um quit as a teenager because uh you know I I decided Finance was my thing um as much as I still love to be on stage um so so quit quit acting got my first job and the only real job I've ever had uh at banking when I was 16 uh got a job at you chase uh their old subsidi W Wu their Old aition Wu had a had an internship program for for high school te so started my first real job in banking and then went to college and um and actually dropped out of college my dad got very sick and uh and he needed help so I actually sold all my portfolio used all my active money to try to help my dad and you know everybody tells me or college drop out you know you're living in a 250 foot apartment go get a job and I didn't listen I decided I want to be an entrepreneur so I started my first little business a little brokerage business um to to help my dad to pay the bills and ended up getting him back into great shape uh into excellent healthare fully taken care of paid my went back to school um loved paying my way through school when I when I was paying for it I got a 4.

0 um which was uh which was a lot of fun and then when I finished school you know again didn't listen to anybody because they all told me drop offer from Goldman Sachs go start your career work your way up the ladder and I was like I'm an entrepreneur so so I started decid decided to start my own thing started my first hedge fund straight out of college uh gone into Investment Banking and yeah it's it's been a lot of fun uh came to Dubai about uh 10 11 years ago now and have just been part of the growth story that is Dubai um as well Dubai abuaba UAE it's just incredible place to be great place to meet entrepreneurs great place to meet U people who really want to make a difference in the world and and are really trying to change things so so it's been a lot of fun so Zach sephar uh dra has eyebrows but we probably have to mark them up a little bit to get to the full draver status yeah oh good good move um okay you've heard some great stories here of entrepreneurs who've gotten gotten through the through the you know the T The Tempest the Hurricanes the all the trouble that they face and now let's let's introduce to you some entrepreneurs who are just getting started they're trying to figure out what the world's going to look like in the future trying to make it better let's bring on our first entrepreneur but before we do let's see what's going on behind the scenes and now if there's an eyebrow thing so go ahead do your eyebrows there you go all right let's bring in bring our first Entre let's see who we [Applause] [Music] got this is katcha Ali from bio sapen katcha give us your pitch hi my name is Dr Ali and I'm going to take you on a little journey I want you to imagine someone that gets diagnosed with cancer to get systemic chemotherapy and within four to 5 hours end up with nausea and vomiting four to 5 Days end up with hair loss and a couple of weeks later they end up with long-term complications this is something I experienced with my dad and the reality is is that one in three people will end up with cancer in their lifetime so what are we going to do about it so my team of experts from the industry including the FDA and Pharma combined 100 years together came together for the last five years to make Med chip there we go Med chip is a 3D printed drug delivery platform which is able to deliver the same type of chemotherapy that you would get systemically but without any of the side effects so really so let me help me with this this is oh it's this paper thin uh chip right it's tiny little thing do I put it on the side of my neck what do I do with it yes that's a great question so you can actually put it on top of the tumor you suture it on from the Four Corners that you see and it provides the same chemotherapy for up to 1 month so you could be roaming around sleeping doing groceries but the cancer is still getting treated so you it there's a drug that goes transdermally into their what what's in this chip you have a drug in the chip we do yes and is the drug is it for like skin cancer or is it for going inside the body it's inside the body for any type of solid tumor so anything that you can touch so this isn't for like blood cancer solid tumor you put it in you you put it on there and then um and then the drug somehow goes through your skin no no so it's so like let's say you are going in for surgery right so they're going to your pancreas or they're going into your stomach for surgery they go through a scope they put this in directly on top of the T on the tumor right in there yeah right on top like a banded oh how do you keep it from slipping off so you see those four corners over there yeah right that's actually where you attach the sutures onto the tissue on top of the tumor it's meant to be delivered in that way you can put more than one so if the tumor is big enough you tie the knots together to make a larger mesh and then you put it on top of the tumor so instead of taking a drug that's fully systemic yes you lose your hair and all that stuff this is a drug that just goes right on the tumor and attacks it right there right on what a cool idea so I'll something even more cooler ready so the thing we made this room is designer I am I invented it in 2015 in the O so it's been eight years in the making so while you were in the O were you were you being a cancer doctor uh no so I was actually a third-year medical student assisting on a cored Artery Dissection at McMaster University in Canada and I came up with the idea to 3D print chemotherapy drugs um in the form of a biodegradable MH I I haven't seen a no since so yeah but the cool thing about the product is that it's actually made from sutures so we manipulate the suture and we put the drug inside and because the material's already been in the market for 40 years we don't have to do the traditional phase one phase two phase three we actually can bypass all of that um and get to clinical trials much faster we've tested this in animals it has better safety than chemotherapy and it has I'm not there yet but it has better safety than chemotherapy and it has uh better efficacy than standard chemo loan so now we're raising uh3 to10 million to start clinical trials our partners include Memorial song ketering MD Anderson vanderbelt UC San Diego UC San Francisco potentially Cleveland Clinic here in the U and the goal is to be able to bring this to Market within the next two years what's your connection with ABAB so we're actually a part of hub71 shout out like the best accelerator programs super excited we're cohort Lucky 13 um so we're actually here so that we can accelerate our growth in clinical trials because there's more Innovation here there's a higher unmet need and I'm actually from the region so now um do you have to use it many times on the tumor you have to keep putting things down there that's a great question that's yet to be determined that's one of the reasons why we need to raise some money to be able to test out exactly how many chips we need we think that we can Target it with through for um chips in into the patient and how do you sell it what's your plan to go to market and how much you cost I love that question so our cost of goods in terms of how much it cost to make us for us to make sorry is double digits and we sell this thing for $10,000 per Chip sounds like a lot but compared to IV chemotherapy it's a fraction um we would actually be selling it unit to unit um to hospital and Healthcare Systems we're already in the talks of doing that and then we'll be Li lensing other assets so say Johnson and Johnson likes lung cancer so we would sell it to them and they' be able to license it there and the best part is oh sorry go yeah how much time does it take for it to start once I app so 24 hours so so basically the moment it touches tissue it gets activated within 24 hours you get this burst release um which is like about 25% of the drug initially so it gives that little kick and then over two weeks it releases from the two sides and then from the major parts of the chip itself over a course of a month so once you do chemotherapy there are sessions that you do right so with this chip you have to do them like every day or no no so it automatically so it works on its own like you don't need to do anything it just needs to be in the body for up to a month and then after a month just like you would have to go and get like an oncologist to see how the cancer or the chemo is going the same way you would go and see how much this tumor is shrinking and they would say oh this is doing great we don't need more or hey we think you can use one more and they would go ahead and apply another one if needed I'm the chances not of it not uh like 0.01% we pretty much der risked it so we know that it works that's the exciting part we just don't know how many chips it's going to take give us an idea of the market size um how many cancer patients uh would be suitable for this type of treatment that's a great question so there is about uh 600,000 people that get diagnosed with cancer every year and about 1.8 million new cases so that there's a huge Market there um we are actually looking at targeting GI cancers in the colar recto which is our beach head so it starts with 150 patients in total that's a total Market size um what we can service is about half of that so 60% and what we aim to actually Target is about 12,000 patients um here's a fun stats that you guys might like by treating 3,000 patients we hit the billion dollar Mark in Revenue wo got any question yeah so uh what's your what's the exit for for you on this one like as an investor yeah that's a great question so we have several exit opportunities one is basically an M right with a Pharma company or a medical device company that wants to buy out another is to do an IPO so after this for example if you raised 10 million we raise a large series a to commercialize we do a crossover round we get public um that's potentially another and then the third is that we would actually spin off different indications and sell each part individually and the last thing I also want to mention is because we have Global patents we can actually sell this globally um to different industries that require it and it's not only limited to cancer so it's a platform you can use it for opioids hormone delivery and other things as well what are your modes what's the what protects you from the competition copying your uh your your approach that's a great idea it's a great great question so the number one thing that protects us are obviously the patents the patents are issued until 2039 in US UK Europe Hong Kong uh China Australia uh South Africa Syria and a couple of other places so that itself protects us um the other thing is is that the way we've built these patents out it's 110 Pages um we built it in a way that anyone who's trying to do a drug delivery system will not be able to do it because we've put every type of variation that can possibly exist on this Earth in terms of the type of drugs the type of materials the size the way we make it so that's how it's what are you g to do for an encore when this thing becomes a billion dollars then what's next is there a are there more 3D printed devices that go inside the body that do different things I'm so glad you asked that because we have another IP portfolio in the company it's called biov vessel so we intend to 3 print blood vessels um using your own stem cell and that's an R&D in the background but that will be next and then maybe start a VC cuz I have some VC what are you what are you GNA invest in when biotech and maybe Bitcoin you know sure I have a last question so you have secured $1.8 million for your SE rounds yes how did you deploy that um in terms of how did we use it so um so 40% of that went towards RNG 20% of that went towards manufacturing 10 perish went towards IP and the remainder was like operations and legal and things of that sort and we also got a grand for 256,000 by NSF terrific well thank you so much for coming and good job great job Dr Ali all right I love her character I'm liking Abu Dhabi even more so what did everybody think what did uh Zach what do you think I mean it's uh it's a it's a big uh potential right I mean a billion dollars of revenue from 3,000 patients when she's got a addressable Market of 150,000 a year seems like uh you know if it works what if this works right if it works it's going to work pretty well yeah and I like that it it ca herent 10 $10 to make she's gonna sell it for $10,000 I think that's a good margin 99% n a token that that's so cheap for the coast of chemotherapy out there right this sounds like a miracle because my grandma has been diagnosed with cancer and I and I've been with her throughout the whole you know cycle the all the sessions all things first of all you pay a lot of money and second at some point patients canot more right and so the distance up me like as it is and and tested I think it's G be a great add value if that works it BLS on and reduces the size of cancer you won't be afraid of well there are other but very very knowledge was really really new stuff um questions technal Financial the exit I think overall um one of the best pies I've seen hey what did all of you think what do you think of Dr [Applause] Ali write that check quickly yeah yeah any Finance ears out there you better get in before I do all right so let's bring on our next entrepreneur our next entrepreneur is Carla are you Carla from to enable welcome to meet the dra guys hi team hi team family now then so I want you guys I'm Carla co-founder and Simo at kchen and I want you guys all of you guys to imagine and some of you guys even might have contact with this imagine a child who is nonverbal and does not have modern coordination skills so this child cannot write their name they cannot use a keyword or engage with traditional technology now picture the frustration of parents and teachers who due to the lack of tools cannot measure this child's capabilities or even track their learning problems well this isn't just the story story of one child this is a reality for 240 million children with disabilities globally and you s estimates that almost all 10 year olds with disabilities cannot read a simple story so that's why we created the kyx and that's Marcelo uh my CSO and co-founder he will be our stand here like in UFC you know when they have the point here and this is the KX the KX is a revolution AR 11 button keyboard and mouse that empowers here bring it up here Marcel we want to see what this thing is and the camera probably wants to see it too okay explain what this is yes so this is a keyboard and mouse to empower children with moral physical and cognitive disabilities to type to use the computer in all the ways they can and this leads for them to get educated communicate be Aon and do simple tasks that we do every day like go through our Instagram and they can do everything here so how it works that Marcel is teaching to team right now basically so far we've just got an m and now we have a circle dot so yeah that's the mouse now I've been trying lots of things and nothing's happening on your keyboard in it to show you how to work okay this is the mouse function so you can have everything that you need in a mouse function you can go down you can go up you can you can [Music] press oh sorry okay yeah am I typing a y do I twist these what do I do so for example we went to write team for example we had T here me cancel that you press this pink one because T is here and then you press the red one here oh boy This is complicated and then we have t here okay okay we got a try again now we're trying to find an I here here yes okay now an M would be here here yeah so okay we spelled my name hey now I get it it's code it's a code now why is this speci why is it why does this help somebody who can't it's a combination of colors and symbols because people with Mod disabilities they cannot use the keyboard because they need spacing so that's the way not us uh cerebral py uh man that we know in Brazil he created this combination so we have all the commands of a regular keyboard and mouse in just that small pan okay which is mou because the other competitors they do something that is the size of this page okay so basically um our Hardware goes head in hand with our customizable learning platform which enables teachers to create play based activities on any language in any subject in less than five minutes and it connects to the KX ensuring a fun and interactive uh learning experience uh we have how far along are you with it you clearly made at least one of them how many have you made how many have you sold we we sold 30,000 and how much are they how much do they are $1,500 but we are selling mainly to the schools so we do a package for them of this with the software the learning platform and we have other devices as well but this is the main one wait you've sold how many did you say you sold we have 30,000 users uh and we are being 30,000 time a th000 you're a $30 million Revenue right no no because a lot of them are in schools so we put them in a classroom and many children can it reaches 30,000 yes oh okay how many of you sold we sold around 800 yeah 800 about 800 yes times and each one's $1,000 so $ 800,000 in sales yeah that's terrific are the schools recommending them to each other yes 100% yes because once they put there they see that the kid is being included so they can learn with mainstream kids without disabilities so that's why and schools right now they need to be cled there's LW policies every country every district for example USA how much does it cost to make that $400 $500 400 so decent Marg yeah and then do the schools they find how do they find out about you you're knocking on doors we are knocking on doors because we need help from someone maybe you so we you want me to knock on doors for you I've done that that's how I got started in the Venture business no no but we are piloting everything we have been doing is organically so in Brazil because we're from there it's our main Market we actually we are working with the public sector so that made things easier for us because one stay you're from Brazil what what brings you to Abu Dhabi yes so we won the Grant from hub71 3 years ago and we came here and we stayed and kind of don't want to leave right now so car did you start this since 2018 we started in 2018 yes so when did you start the production 2018 when when you started the production in 2018 production started 2017 but we started like go to market only in Brazil in 2018 by the end of 2018 we went to the US actually but we caused that to come here because we are a small team so back then this was a better opportunity so we are 20123 so from 2018 to 23 you made sure to sell 800 800 uh in Brazil is a kind of a different story we sold a little bit more there because it's uh there they have all like programs for inclusivity so we do a different business model in brail yeah so why took six years to sell 00 why took you years to sell 800 201 we started with just the keyboard from 2017 until 2019 we were inside the field learning with children buili and also learning with the teachers with that we made order kind of solutions so we have the keyboard we have accessories we the education platform and I can say that during Co it was the biggest sales that we made the we started it was the what is the um what are the challenges in increasing the the sales is it is it the cost of the device is it um this is one of challenges the cost of the device so we are raising actually because we want to manufacturing lower down the costs and make accessible because most assisted Technologies something we don't have a direct competitor something close to us it starts at $4,000 and IT addresses only one child for with one disability so as Marcelo were saying we in the beginning didn't look like that it was mainly for water disabilities like cerebral posy or a stroke but we started to change during the years so we can address a lot of different disabilities so right now basically what we don't address is uh uh Vision or hearing disabilities all the rest they can use this how how do you Market this um right now as as I said we are doing everything organically so we do pilots with the schools and ideally we go to the public sector and try to do some kind of program with them yeah terrific well Carla thank you so much for coming up terrific and notice she has her it's always good when the entrepreneur has a logo of their business on their teacher all right so what did everybody think of Carla so I love the mission I love the impact I love how she's trying to help kids um you know I think it's it's it's quite challenging making it scalable right um you know being able to sell it to a bigger Market I'd love to see a product that there was lower cost that could be more of a b Toc rather than you know selling to the schools which is more of a B2B yeah it's a tough business you know when I did it though I found that it was kind of fun so I didn't feel like it maybe they're not they don't have to be limited to just the market they're going after uh they could any kid would kind of like to be able to sort of code that it was a little bit of like solving a code to type in my name so maybe there are other markets that they can go after maybe something beyond that what what did you think yeah first think is scalability I'm a little B concerned that it took them like six years to be able to sell 800 so there is a problem in there right I'm concerned a little bit about the marketing and what type of marketing they're they're doing but I add to your point it would be interesting to add that e ENT containment to it because then you could look at other markets and and expend better right I mean if they could other children could use this as a tool for them just not you know to learn or or something else that would that would be probably an added value to the to the brand what you um I think uh the first thing I really was trying to understand just as an entrepreneur myself there it's a lot of the you know jack myself even at D Val there's a story behind why they did this so you know I kind of maybe I missed theory of kind of why building I think it's great but I think important so esoteric and because it's esoteric the market size is a lot smaller what i' love Tobe that that would at the price point of $1,000 it's been high is a lot very high for a game for a toy uh but so it really kind of had for that price has to be is critical if they sold a lot of them they could make them cheaper I think they TW a couple of things that terrific okay well let's uh this exciting huh hey what did you all think that was fun what do you think of of this Carla and the key to enable all right so um let's move on to our next entrepreneur but uh before we do just wanted to make sure that all of you know that um that you can see my see my odd and strange comments on Twitter at Tim Draper uh you can go visit our game at meet the drapers.com and you can play this fun game and it is fun and then you can you can judge our contestants and make make uh F money um you you know about that right we have it's always real money absolutely absolutely um so we have uh some money that you can kind of invest in these companies and that's fun on our game and you can vote and May we move one of these incredible entrepreneurs on to the finale so let's move on to our next entrepreneur but before we do let's see what's going on behind the scenes all right let's bring on our next entrepreneur [Music] all right we have Pia from bit yes okay yeah uh my name is Kia from bit and here along with my partner s is here for the Q and session and have you ever imagined AI future I believe that AI will communicate each other with uh AI will communicate each other and run without human intervention in the future however uh uh uh this world is now doesn't have lot of source for or algorithms AI can look for uh which is uh which is which is harder for air itself s machine learning and uh we provide uh algorithm Library for everyone uh for for we provide huge company and for more we can provide to AI itself as well as AI with crypto payment feature uh in detail uh we funded or cost from investor to run a competition and uh we get three top algorithm from the uh data sence i h and we are made available to our library and after uh that is used by user uh we will share the profit distribute to profit or investor and data scientist and bitre and uh me with over six years experience in crypto and data science layer and my co-founder our uh uh marketing and management for over 10 years we already have a competition with big company and NASA and softb and uh we already we we have over 30,000 data scientists in our community which is the second largest online community for data scientists across the globe and uh yeah uh we we want to provide algorthm library for everyone and we already do the some progress and we selected 71 and we want to spread this system to the every data scientist and also AI itself so the idea is that you crowdsource algorithms yes and you bring them all together and when you say everyone you really mean all the data scientists I mean I'm not going to be somebody who's shopping for algor all the data scientists and so you do this crowd Source you bring them all together and then people can then you create a Marketplace for algorithms yes terrific and um do you have any sense for what people are paying for algorithms right now and what it's worth what's it worth to all the data scientists in the world so actually there are two Platforms in our ecosystem so one is is where we're talking about competitions where we crowdsource AI from all across the community of data scientists that we have so in this case we had competitions like NASA soft bank for different custom problem statements of theirs now the second component is a patented technology that we have that's an AI Marketplace so it's equivalent to App Store back in the days when apps were just getting started right so any data scientist can deploy scale and monetize all of their artificial intelligence uh models and sell them off to company help with something give me an example of how this would be used where would you say okay here's an algorithm a lot of people are going to want this algorithm they're willing to pay a lot of money for this algorithm what what's a good example so the first thing is that we're not selling algorithms directly on the market it's one of the options but the main thing is that companies can try algorithms on a paper used basis so what it means is you don't have to share your okay get specific well I'm a company why do I use this okay two different instances so one is for example of a transaction routing problem so there are banks and you have to have an AI solution of which corresponding Bank you have to rout a transaction through the same thing basically translates for a shipping optimization problem right now it's the same model you have a similar data set about where it starts from what is the value of the transaction and where it goes but it has use cases in multiple different um Industries so that's where you don't have to share your confidential data set you just plug it in with the model on the cloud and it starts operating by itself the biggest Advantage is it's not an upfront payment or an upfront investment of yours so you plug in your model and you do a paper use basis so the data scientist retains IP of the model uh and overall you are able to test out a particular AI use case before you actually put in your investments in so how does big grit make money so right now there are again if I talk about the few platforms that we have competitions are going against T to case bis so there are public competitions there are private competitions so public competitions are the ones are open to people all across the globe anyone can participate openly but there are private competitions that are basically sold by Partners or they used internally for Hons and training of the teams the AI Marketplace is where we share remuneration with the r of scientist 50 so if there's a company and for example every API use for that particular model they're charging like $10 that basically goes $5 to bitco and $5 to the scientist so they retain IP and they start taking money out of it and how do you prevent yourself from getting circumvented because one of the main problems that actually comes in the entire Loop is data scientists are not able to deploy their models at scale so that is where the ecosystem and the technology that we have comes into accident so every time that there's a model being created it is automatically deployed on our ml infrastructure that's on cloud and that's where any company can use it through an API otherwise they'll have to go through the entire process of actually setting it up as an independent Service as an company and Market that out to people I saw something crypto explain that part for sure so actually the BGR token is one of the most important elements of the entire yeah we had one in Japan and that had a bit of problems because of the regulatory environment over there so they tax you on the total market cap and that to that's 50% so we have to recall the token and we're launching it again under adgm in the next couple of months um we'll have an IU and that is going to you know be along with the entire platform so my question is why are you guys launching a regulated token why don't you launching uity token so there's a bit of a difference one is first of all the token is used as a rem remuneration mechanism so every time of API call is used the data scientist at the end is incentivized for it plus there's a peer review so there are a lot of incentives in terms of how people are actually engaging with the entire Marketplace every particular AI model will have people that actually review it just like the academic circles so you have a research paper for example and then there are few reviewers that actually care about the quality of that particular research and one more why we using crypto is for the AI itself AI ask to the AI Marketplace using our algorithms this quantities are very small and very frequently in that time crypto is a good for the payment Ai and Marketplace that's why using cryto right so I guess my my question is why don't you guys do like an unregulated utility token so so that it can be traded in defi or something like that like do you guys have a defi strategy yeah overall we did not have any of the financial structures where we are probably deflating it or kind of categorizing it as a security but what happened was that we had to kind of get that licensed under one of the companies and have them as a payment mechanisms within the ecosystem because if there's a utility token that is not kind of back by any of the use cases within the ecosystem it just didn't make sense in order to kind of get it out in the as a sales mechanism so you said that some of your clients are NASA what typ of agement you have so for example with NASA we had a competition where the prize money was nearly $100,000 it was a very specific problem statement where they had to find correlations between biomedical entries and research papers so it was in collaboration with the National Library of Medicine as well as encaps and in that particular scenario you have you know a two-phase competition where it was spread out across teams on all over the world and they were participating in order to get to the best possible solution now once you do that you know for a fact the solution you getting is the best because there are different permutations and combinations of AI models and they are being ranked for their accuracy in real time so based on that the best performing model is then given over to the organization that is hosting the competition and they are able to deploy that in their systems terrific well thank you so much for being on Meet the Drapers great thanks so much for presenting thank you for answering all the questions well done and we'll go back to the judges so judges where' you pick well it seems like I'll start first as I think the idea is great but it probably fits better in a tokenized model than a traditional I would say Equity type model um so if they just kind of fix that or work with another project that actually deploys the tokens um using tokens actually for a Marketplace for back and forth it's actually a great idea but I think um the issue with a regulated token if you're building you're going to have trouble liquidity none the exchanges going to be able to list it and even in defi it becomes a challenge so I think if you having crypto a big part you really really have to have somebody that understands how crypto actually that that's yeah two things the first thing is the token model and the second which is the mistake that every single entrepreneur makes they don't introduce themselves in first place right so we heard of M and talk your government but I would love to learn more about the entrepreneurs themselves story I don't know the story of it and and that makes the whole the whole point right yeah yeah I uh you know still trying to understand what I just heard I mean uh in some ways I was wondering if is this a camer looking for a nail uh or is it is it solving a real a real existential problem you know I would love to understand how they generated $5 million of Revenue where that came from um so so uh it's it's one that I have to think a lot more about before I can and one more thing they raised the when I looked at the company valuation they raised a bridge round of 150 round but the post money valuation 25 million what what 25 million that's what it say so I was like that's a bit hot well if they've got 5 million in Revenue that's probably not too unreasonable the last round but the thing I I kind of I I was um pretty interested in how they're doing this because I do think that there's something to Market places for scientists for data scientists for all scientists and I think tokens are going to be a big part of that the thing I I think um Zach question was how do you avoid them going around you is a good one because an algorithm is very hard to protect it's like if you came up with a new Financial vehicle it would be we'd all copy it and it would be very hard thing to to protect and I think the same thing's true of an algorithm but um you know 5 million in Revenue you don't you don't St off at that yeah and other things the first which is I would like to learn more of the scalability model and the second as an investor how do I make money right absolutely that's always a good question for an investor all right so let's bring on our next entrepreneur but before we do and now I think I want the whole audience to do the eyebrow thing a lot of ladies and then we'll see wow I see some good eyebrows wow that's like a 3in vertical on your eyebrow very nice but before we do let's see what's going on behind the scenes okay we're down to our final entrepreneur of the day judges oh what about all of you what do you think of bit grib let's hear it for bit all right little more enthusiasm over there all right so now let's hear from our next entrepreneur it's it's Aaron postumus so it's like after you've been a human after death actually is what it means after death and you're wearing black it of like yeah we're we're finishing with sort of a a modelin finale but okay so the business is called moment moment and give us your pick great so hi my name is Aaron I have a background in cyber security and product development I was at the helm of a venture Studio that was building software at multi-million dollar valuations all while our home country was facing daily rolling blackouts me and my team wanted to stop building apps and start solving a massively transformative purpose in South Africa alone there's a $28 billion funding gap for solving the problem of renewable energy Finance of course across the world the opportunity is much bigger than that but we're focusing on this Market first and foremost because it's the market that we know and also because there's a new massive tax incentive that's an opportunity that has to be seized immediately so we created a project in January this year that allow ows private investors to purchase parts of solar installations these solar installations are powering businesses like schools factories and farms and the pay the earnings from their bills gets distributed right back to those investors through secure contracts on the blockchain right our investors love this because they get to they get to power businesses in develop developing economies with renewable energy but it's not a charity they make about 12% perom on their investment right and their ownership stake is liquid and it's tradable in 160 jurisdictions around the world already this is something that's never been done before with a digital asset in this way our businesses and communities love it because they get a mini grid for 0 down they pay Fair rates per kilowatt hour and they finally get the power that they've been waiting for all this time we've got about 50,000 users to date and have done $1.

4 million in sales and at our last payout we distributed earnings to hundreds of investors all over the world this took us less than 30 seconds and cost us under $3 versus days and thousands of dollars if you were to do this in traditional Financial rails so uh this is part of the reason why we've won uh many awards I don't have time to go through all of those yet today but we're just getting started we have a pipeline of about $20 million worth of incredible schools farms and factories waiting for their power the question is Drapers are you going to help us get it to them okay so um now as I understand it you're you are going out to finance years they're putting money into you you're then going and buying a bunch of solar panels you're putting them into a remote town in someplace in South Africa or wherever so South Africa's energy grid is actually quite interesting and the biggest cities like cap town where I'm from they're still rolling blackout so we're talking about a modern city not too disimilar to this really powerful businesses more backup energy or or their first energ this is their energy yeah okay so um you want to hit me too one more um so uh so it doesn't seem as though there's any um anything uh particularly unique here because someone else can easily do the same thing not at all so we've actually been working on the technology for about 2 and a half years and we've spent significant time and money on the legal models as well as the legal Frameworks like I said this hasn't been done in this way ever before it's a unique ownership model where you you actually directly own the underlying asset so it acts kind of like a bearer Bond if you were to transfer it to your son or daughter they automatically become the owner of the site now you can imagine if you're a big BP or petroleum you no longer have to call up your lawyers pay thousands of dollars in fees to see those rights you can just transfer the token and the contracts are embedded in the token themselves we've got some incredible advisors like Roland tal who average size of the investment into this question the great thing is because you can fractionalize it we can support up to $5 that's actually the last slide down down to $5 the average investment the average investment is about $279 from our user base right now per user so I see eum Parton in cardano expain the blockchain way and yeah so from day one we wanted to make sure we were blockchain agnostic so we can support multiple chains and this was important so that we're resilient uh important to not we pay out in usdc so it's not a speculative coin but it obviously does give you that capability to immediately interact with the web through ecosystem why don't you we haven't launched toen yet we absolutely could is there a secondary market for these interests thank you so much for that question so yeah we actually saw a 260% secondary trade on our first project which was a high school cuz there was a lot of demand from the community for that project we didn't anticipate that kind of secondary Market activity but this effectively means what do you mean by Tok two more than two and a half times changed hats so you can sell your token on the seconding money on the trades absolutely 1.1% on every trade on the marketplace and then the rest of the model is a typical hedge fund model so we take 2% on payouts and 20% performance fees above the yield so that's secondary Market is all in a Marketplace that you control that's a Marketplace that we buil but these are ERC 721 tokens uh which is fancy speak for they're interoperable on all other Market placs yeah what's the average uh price per kilow hour of energy in South Africa it's about 280 but it does depend on the whole business where they are and 280 for the normal grid but what about for your oh no for the normal Grid it's as high as 450 we charge our customers a flat rate of two round so why don't you charge them more so your investor can get better than 12% so we actually have a very refined model that makes sure that like everybody's kind of winning out of the solution the normal grid goes up to 4 Rand but it also comes down to like two Rand as well it's a very complicated system we offer our invest our our like sites simplicity so it's a flat rate at a 10% increase perom which is really great for our investors are you when Energy prices swing like crazy so when if you've got really high energy prices that might be we're not tied to the prices of the country so we that we've set our price in at a set escalation rate now we know what it's going to be for the 10 year of the contract which on average is 20 years by the way so guys are signing up for 20 years 20 years of a 12% yield I mean people say property is gold right if you're looking at a 6% yield and maybe a 2E leas this is like double ask few questions did you start so we've been building blockchain technology for two and a half years we launched this product January okay so 350 plus another 1.5 that's 1.5 million yeah you've secured 55,000 users yeah and you've made sure to sell for that's around $4 million in sale correct how did you do that uh the the last 12 months how did you do that oh how did we do that really great question so we actually did a a whole YouTube like content marketing approach what I love about content marketing is it always stays on you don't have to keep investing in it so we've got a YouTube channel with over 2 and a half million views I actually need to check that it's probably more as we speak especially after this show um are you the part of the YouTube channel well our whole team is the star of the show yeah yeah if everybody if all of you would go and go on to their YouTube Channel they'll have 70 million viewers hell yeah so it's all educational content you guys have a it's all educational content right sorry it's all educational content yeah so we actually have a series called in the moment which is just following our journey as a startup to becoming a unicorn which we know we will be um you got to be confident um and yeah we also are really good at getting impressed we've gotten over 450 unique impressions just impressed aler Bloomberg local state everywhere and then I want to answer the affiliate question because it's a really good one we do have an affiliate program right now so we give away our one 1.1% initial sale fee to to the affiliate who brings on the sale so yeah any other questions guys there's a lot terrific Aon thanks so much for being on terrific well done [Music] yeah I think I think Aaron will get to be a unicorn one way or another right um so uh great well let's start with the audience what did you all think let's hear it all right Harry you uh I think the idea is great some of our actually my co-founder on he actually from South so I know about the South Africa energy problem Sol Blain techology I'm really really curious to see the [Music] UTI yeah so um what I like the most is the marketing C right because what you did is something really interesting and smart so these start I producing content right and and for this type of business like you have to pay a lot for Market just to be everywhere and stuff so they've Ed a very smart technique just just Crea content all around um they have started this in January and they're always in their brick if they're ra and they' made 1.

4 million sales today from January they're almost so if he was talking about the UN we might we might he well love his energy I mean I would never fed against somebody who has that kind of energy seems like run he'd run through a brick wall but um at the same time you know and I know about this problem in in in South Africa you know it's a global problem we need we need to produce more renewable energy we need more Innovative financing structures I mean it's a multi- trillion dollar funding Gap so this could could be a part of it you know one of the challenges I had though 12% yield to invest in Africa or to in you know developing markets Frontier projects uh you know a couple years ago 12% sounded great but today it's not that hard to find 12% yield so I think uh I think you got to find a way to crank that up to get people to take the risk the other thing I kind of worry about we were talking about it earlier the secondary Market know what ends up happening with a lot of these is that the secondary Market emerges at a big discount then that makes you kind of worried to come into the primary Market because if you know the secondary Market is going to trade at a discount then uh then you know why why would you buy in the primary and if you can't buy in the primary then you get no issuance so you know I think those are those are two things I'd want to I'd want to hear more about thing I look for is um what happens in the long term and in the long term he will have a lot of competition and there will be a race to the bottom so the margins will shrink all the way down and it will be very difficult for him to keep this business going the way it is he but he'll get a lot of customers and then eventually um you know you can sell them other things okay so uh what did you all think oh you all liked it that was great yeah okay so now um we have a very difficult decision to make we have to decide which of these four entrepreneurs are going on to the semifinals and uh and as you may know at meet the Drapers we always fund the winner at a million dollars and uh and sometimes others of them get funding along the way and uh and we do it in such a way that they go through a semifinal and then we have a big finale and the big finale has six entrance and three of those entrance come from uh the semifinalists going through and then we choose three finalists and three of them come from you the audience out there and out there uh voting to see which of our contestants should go onto the finale so all four of these people may be in the finale you never know but we are going to only choose one and it's a very complicated system we have here you have to send your energy to the crystal ball and I need to to feel that energy and then we'll end up with a final decision but before we do that we'd like to bring out all the entrepreneurs we've seen today this is this is where this is what we say when you get to face the music and we like the entrepreneurs to feel the just raw feedback that that you get from the judges and so I'm going to ask the judges to say who they think was the winner and and what they and and maybe some advice they might have for one of the other ones uh so who we have here we have biosafety dedicated um to using Innovative solution that 3D prints and kills cancer uh key to enable the new product toy that allows U people who are disabled to communicate with the world we have bit uh the the company that uh Aggregates all the data scientist algorithms and creates a Marketplace for them and we have moment uh the company that is going to power all of Africa to a unique financial model so Harry tell us who is your favorite and what advice do you have for one of the others uh well I definitely think my favorite [Applause] was um close second was South Africa the [Music] other I think present yourself a little bit more tell tell your story a little bit more get into the pi later at the end of venture and is all about investing you want to know the story want to know all right good how do i' think first Alie so the reason behind that is first of all the way she presented herself right she told you the whole story I'm Al she make sure to tell you that she's a doctor right she's not coming from nowhere to repr this um the story behind it she talks about her dad since it's coming from somewhere um I like the fact that um you know the other clients that they dealing with she made sure to tell you a whole story and the other thing is how you can make money as Tim or as the ders right and that's the advice I would give to the rest of the entrepreneurs is when you're pitching to someone just make sure that you tell the whole story because they don't know anything about you a lot of entrepreneurs thinking that like we would know but in fact we don't know um what's the reason behind it why do you believe in it um who are you what's your passion and what are you looking for exactly a lot of entrepreneurs don't know what doing with they just come and and expect you to guide them right um and that's what that's the advice teric okay Zach who who's your winner uh I'm also gonna vote for for BN I mean thinking about bio you know I look at this you know the the valuation and I think what if this works right if this works this is so big this could make so much money this is a lot of ex's right so uh so so I I really loved it and it sounds like it could work I mean it sounds like a great technology she really thought about her Moes and how to protect herself the competition out from copying her so I I really like that I think there be a lot of ex's um I I think uh you know piece of advice maybe key to enable I I really like your your product I love the mission I love you know I could really see that you're you're driven um I I'd love to see you know you were you were comparing yourself a lot to the to the competitors how much their product costs um uh you know it sounds to me like you could play the infinite game right playing against yourself think about how you can just make your product as great as you can and maybe lower cost uh something that that uh could could sell to a bigger Market because it seems like could be a lot of fun and could help a lot of kids another thing please change those faes be happy be passionate about what you do do right um it's all about learning this is not the end of it you're learning new things you're growing you're expanding don't lose hope I don't like to see those faces and I wish had a toen ah okay even better even bios Sapient has a token strateg everybody should have I think everybody needs a token strategy if you come out having watched this episode two of season 7 of me Drapers and you don't have a token strategy you're missing you've missed something very important so uh yeah thank you Harry for that so um bios safy you can't Dr Ali we'll always remember that because you corrected me very quickly and very efficiently um you presented yourself well the opportunity is vast the question in my mind is is it going to work and uh but it's very inventive and it's really clever and so we were very very pleased to see you um here on the show um Carlo with key to enable uh it is interesting uh a lot of really interesting things come from people uh creating products to help people who are disabled in one way or another a lot of real innovation it's a little like what when Kennedy said we're going to the moon no one realized how many new technologies that would be created around going to the moon so you created this new code the market you're going after is relatively small and selling to schools is really tough uh so it may be that you need to start to really rethink the the whole plan maybe you start here and then maybe there are some toys for everyone something interesting there um bit grip so um I think I would I would have a lot of trouble presenting my business in Japanese so I clearly we had a Communications difficulty but there was one thing that I would recommend and that is you are solving a big problem and you didn't tell the world that you're solving that problem the problem is that data scien is need a Marketplace all scientists need a Marketplace and tokenizing markets is a way to create those marketplaces and so I think that would have helped your pit um we have no sense of how big that market is so that was kind of a difficult thing um but uh but I I think you're going after something that really matters and you're at five million in Revenue so go for it keep going good job and moment um I you're solving a a very important problem you are grabbing resources that otherwise may not have found you and you're solving a major problem in South Africa that will be solved in many other places now I have seen this business model before several times so you do have competition and you will have competition and what I'm concerned about is that is it a race to the bottom does it end up being a a race to where the competition moves to 18% return and a lower a lower cost of energy and then you drive each other out of business is there something that you can do for an encore that's kind of what's going on in my head um and and and then let's just ask the audience out there which one is it is it bio saion key to enable bit grit or moment and just say it at the top of your voice as loud as you can one two three okay I think that helped we're going to now do what we always do um we can think whatever we want but it's really up to the crystal ball as to who goes forward to the semifinals and anybody know any magic words is it it's it's getting out of control here is it uh are we helping people who have like uh problems are we solving a big issue in energy are we what are we doing we're doing bio sapiens and congratulations fire sa congratulations you move on to the semifinals and each of you can look and convince the camera that you should also be voted in and congratulations for being on great to have you judges well done welcome to the family great to have the dra well done har welcome to the welcome to the to have you here's how we finish it we say we say 1 two three see you next time on the okay ready okay we look down here ready see you next time [Applause] on everybody up and sitting down for too [Music] long we'll improve future ladies and Gentlemen please give another round of for the one and only once again congratulations to the winning team bios sapiens 71 starter and let's give another AB Round of Applause to Tim gra theti show team of Meet the ders you can go have fun you can start businesses