Executive

Hyncha

http://hyncha.com
Progress records
1
Stage of your startup
Prototype
When did you start
January 2020
City
Caracas, Capital, Venezuela
Definition in 1 sentence
Vote for the decisions of your sports teams.
Elevator pitch
The sports industry worth's about $83 billions and that’s thanks to the fans: no fans, no sports. That said, every professional team has the need to increase its business revenue and improve their fan loyaly, and that is what Hyncha does. We give a voice to the “hinchas”, they vote and decide for their club.
Are you incorporated?
Yes
Category
Consumer, Software
Sector
Gaming, Sports, Entertainment
How do customers use or interact with your product?
Mobile/Tablet (iOS), Mobile/Tablet (Android)
Video Password
Startup Presentation
Other Documents
Image gallery
Why do you want to attend this program?
We are looking for seed funding in order to fully develop our platform and also we are looking for mentoring
Create Date
Monday, April 20, 2020 17:58 (Alejandro Echeverria)

Business model

Describe the problem you are solving
- Sports fans want to take more action on the game and be listened by their teams, they want to take decisions and demonstrate how much they know about the sport/team.
- Teams need to improve the relationship with their fans, increase the size of their fandom and increase their business models.
How are your customers solving that problem today?
- Interacting on social media (comments, replies and participating in activities promoted by the team).
Target custormers - Define customers, who are they
Sports fans. Ages: 18-45 years. Income: > $35.000/year. Residence: USA
How do you plan to acquire customers?
Partnership with teams: taking leverage of their communication tools
What is your revenue model or expected revenue model?
- Subcription: pay a monthly or annual fee to become a Hyncha.
- Transactional: paying for extra challenges in order to gain points faster.

Market info

What is your target market?
- Men (90%) and women (10%)
- Ages: 18-45 years old.
- Soccer fans.
- Financial status/level: B+, B and C+.
- Residence or lived in: Colombia (Bogota, Medellin, Cali, Barranquilla) or Mexico (Mexico DF, Monterrey, Guadalajara).
- Occupancy: university students, employed workers independent workers, small and medium size company owners.
What is your total available market size
$ 20,000,000,000
What steps have you taken to validate the market?
We have talked directly to potential users in Colombia. We interviewed soccer fans and ask them how they feel about their teams, what problems do they have, and how are they dealing with them.

The most frequent comments we received were related about the frustration they had when the team made a decision they don't like and they can't do anything about it. If the team has a good performance they are happy enough, however they feel they need something else.
Do you have competitors? Please write down the names
Competitor name
Competitor website
Competition: write down competitors and explain
- Socios.com: It is an app where soccer fans can buy and exchange tokens from their teams, vote on polls and be rewarded.
- Team owner: you can invest in a small soccer team in Spain with 50 Euro.
- Nostragramus: sports betting platform on India.
- Seattle Sounders "Alliance". They set up a system for Fan involvement with the Alliance. It is conformed by fans who bought the season tickets and they have vote on different topic of the team like.
Who are your competitors and how are you different?
- Socios.com: platform where fans can buy tokens and vote in some club's decisions. We are different in: better subscription process (buying tokens process is confusing), better UX (easier and intuitive), we will have challenges where fans can demonstrate their knowledge and win points (higher level -> more important polls). They are app only, Hyncha will be app, web and SMS.
- Team Owner: opportunity to buy shares of a small Spanish soccer team with only 50€.
- Nostragamus: betting platform.
Traction / KPIs
Title
Value
Active Users
0
Revenue
0
What progress have you made in the last six months?
1) Design Sprint: we did it within 8 days. We stressed the idea, the business model and as a final result we made the screens of the app in the Marvel app.
2) Video showing how it will work.
2) MVP progress at 40%.
3) Online market research Colombia: Online surveys of soccer fans in Bogota and Medellin to validate the idea.
4) Design of the graphic line, purchase of the website domain and social media.
5) Business plan with its respective financial details.
6) Landing page with CTA.
How many customers/users do you currently have?
0 (working on the MVP)
What is your monthly growth rate?
0, we haven't launched yet but we expect that we grow at least 10% per month in subscriptions (paying users)
Describe traction
- Active users: an active user votes on 50% of the polls and play 50% of the challenges available in 1 month.
- Revenue: monthly revenue for subscription payments and in-app purchases.

Sinc we haven't launched yet, the KPIs are zero to date.

Finance

How much runway do you have left(Month)?
6
How is equity divided?
Equity type
Name surname
Email
Equity
Co-Founder
Alejandro Echeverria
% 20
Co-Founder
Carlos Echeverria
% 20
Co-Founder
Lorenzo Camejo
% 20
Co-Founder
Carlos Heinze
% 20
Co-Founder
Ricardo Ramirez
% 15
Co-Founder
Giselle Rubio
% 5
How much money raised since start?
$ 10,000
Revenue lifetime
$ 0
Last months revenue
$ 0
Investment round
Seed round
Target fund to raise
$ 50,000
Equity on offer
% 10
Number of employees
8
Other info Write bullet points (Grants, prizes, acceleration)
Add more comments
- We are building the MVP and hope to launch on May 2020 to get our first users and feedback.
- Demo link: https://marvelapp.com/a96c8fb/screen/66891547
- We could't take a picture of the team all together due to the COVID-19 situation.

Team

Owner member
Yes
Member role
Co-founder
Name surname
Alejandro Echeverria
Title
CEO
Education
Master's Degree
School name
Universidad Simón Bolívar
Birthdate
19 August 1993
City
Caracas, Capital, Venezuela
Short Bio
Business developer, founder of several companies, with a passion for new business and innovating ideas that solve real life problems. Solid knowledge on market research, sales and marketing. Sports fan (soccer, basketball, tennis).
Meeting story with Cofounders
We were close friends at the University. They were entrepreneurs as me with little businesses and always thinking how to create things to solve people's real life problems (first solving problems for students and then we started looking beyond)
Working together time
5 years
Owner member
No
Member role
Co-founder
Name surname
Carlos Echeverria
Title
CFO
Education
Bachelor Degree
School name
Universidad Metropolitana
Birthdate
19 August 1993
City
Caracas, Capital, Venezuela
Short Bio
I have been an Off Line/On Line entrepreneur and business developer since I was 15 years old.

Dedicated to constantly create profitable business models that add value to the society around me, the people I work with and the clients who buy, consume and enjoy what my companies offer. Sports fan
Meeting story with Cofounders
I’m his twin
Working together time
12 years
Owner member
No
Member role
Co-founder
Name surname
Ricardo Ramirez
Title
Sports specialist
Education
Bachelor Degree
School name
Economy
Birthdate
15 December 1993
City
Caracas, Capital, Venezuela
Short Bio
Director and founder of several companies. Student of economics and business administration, diploma on sports management. Specialized in franchise administration. Sports lover.
Owner member
No
Member role
Co-founder
Name surname
Lorenzo Camejo
Title
CTO
Education
Master's Degree
School name
Universidad Simón Bolívar
Birthdate
17 October 1990
City
Caracas, Capital, Venezuela
Short Bio
Electrical Engineer and Computer Scientist working on massive adoption of criptocurrencies in the developed and developing countries through innovative and practical solutions for everyone.
Owner member
No
Member role
Co-founder
Name surname
Carlos Heinze
Title
COO
Education
Master's Degree
School name
Universidad Simón Bolívar
Birthdate
08 September 1993
City
Caracas, Capital, Venezuela
Short Bio
Production engineer, trained on process improvement, business developer and logistics solutions. Skilled on people management and lead on high performance teams.
Owner member
No
Member role
Co-founder
Name surname
Giselle Rubio
Title
Design
Education
Bachelor Degree
School name
Universidad Simón Bolívar
Birthdate
26 April 1994
City
Caracas, Capital, Venezuela
Short Bio
Urban planner graduated from the Universidad Simon Bolivar. Interested in Urban planning with "City marketing" and "Competitive cities" as an approach for development, also about design as a communication tool. 4 years of experience in the Graphic Design field. Advance english level.