Stage of your startup
When did you start
León, Guanajuato, Mexico
Definition in 1 sentence
We speed up construction processes
Cosupplies, streamlines the construction processes, connecting builders and suppliers in this sector ,being able to access a greater number of quotes as a construction company and as a supplier you can access more customers, reducing costs, time and personnel on both sides.We also have an auction where the best price available will be sought
Are you incorporated?
How do customers use or interact with your product?
Desktop, Mobile/Tablet (iOS), Mobile/Tablet (Android)
Product Demo Video Adress
Why do you want to attend this program?
Because the new investment we want to make now is to grow as a company, developing a new version of the platform with better functionality and greater reach. We want to position ourselves at the national level in order to grow later internationally.
Describe the problem you are solving
Construction companies face the problem of quote management, which if is not well organized and centralized can trigger delays in time for the final budgeting of the work.
On the other hand, the supplier companies face the problem of attracting projects to sell, since not all of them have the capacity to know or achieve such projects.
Cosupplies centralizes all quotes saving money and time for both parts.
How are your customers solving that problem today?
Currently, construction companies solve the problem by quoting via telephone or mail to different previously known suppliers. On the other hand, suppliers hire sales agents that allow them to reach new projects, this strategy is very expensive and limited to the capacity of sellers .
Target custormers - Define customers, who are they
Architects, builder companies and suppliers of this sector
How do you plan to acquire customers?
social media, exhibitions, strategic alliances, from mouth to mouth
What is your revenue model or expected revenue model?
The model used by the company to generate income is an annual subscription.
The construction companies, together with the suppliers that they contribute to the platform will be registered for free. At the moment that the supplier companies want to access other projects of other construction companies they will have to pay the annual subscription.
In case the supplier companies are not contributed by the construction companies, they will pay the subscription in their register.
What is your target market?
The current target market are construction companies located in Mexico that invoice a minimum of 250,000 usd annually, with a work team that understands technology and is committed to innovation. The profile of the suppliers are all those small, medium and large companies that are looking for a new way of sales, with the ability to supply large volumes and with user level knowledge of the technology.
What is your total available market size
What steps have you taken to validate the market?
Both partners have previous experience in the construction sector and therefore were aware of this need. The business model has been validated with different companies in search of feedback. These validations have been carried out in sector fairs, entrepreneurs with experience in the sector and in independent presentations.
Do you have competitors? Please write down the names
Competition: write down competitors and explain
Our main competence right now is the current working methodology of construction companies and other developers, based on the use of known suppliers, quoting a maximum of 5 suppliers. This competition is strong since a change of mentality is always a big step but we offer improvements and growth so we do not fear our competitors
Who are your competitors and how are you different?
The main difference that we have with Ixcco, is the section of reverse auctions, where the construction companies will publish their needs based only on a price that will have to be backed by a technical sheet, promoting the bid of the suppliers within the platform. Another difference is that ixcco is focused on the hardware sector and in cosupplies we want to focus on construction projects.
We also work with a strong knowledge of the sector, backedup with construction companies .
What progress have you made in the last six months?
During the last 6 months we have developed an MVP and validated it. Future clients have been captured and social networks created to capture through that way.
We have presented the project to different companies in the sector to give us feedback. With it we have developed a better business model and optimal growth forecasts.
In recent weeks, we have been looking for companies to carry out the alpha version of the platform, which will include the new improvements.
How many customers/users do you currently have?
What is your monthly growth rate?
Since it is a new management system and there are no previous historics on which to base ourselves, we will show a growth based on objectives.
With the market study previously carried out and the validations carried out we calculate a monthly growth of 60% during the first months. And a growth of 110% for each month to the following year.
Since we started this project until today we have grown, knowing many construction companies and suppliers. All of them interested in cosupplies given their ability to improve for themselves.
Today we work with 8 construction companies and 5 small housing developers.
Our supplier database contains more than 140 suppliers from Mexico.
We have already got quotes on the platform for real projects and simulations, with positive results.
Likewise, we are developing a new version of the platform that will include the improvements collected in the feedback of our current users.
We expect to have the new version active in February 2020 and by then we will reach the objectives shown in the KPIs without any difficulty.