Cosupplies

cosupplies.net
Progress records
6
Stage of your startup
Prototype
When did you start
February 2019
City
León, Guanajuato, Mexico
Definition in 1 sentence
We speed up construction processes
Elevator pitch
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?
Yes
Category
Enterprise
Sector
Construction, Technology
How do customers use or interact with your product?
Desktop, Mobile/Tablet (iOS), Mobile/Tablet (Android)
Product Demo Video Adress
Video Password
Startup Presentation
Other Documents
Image gallery
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.
Create Date
Tuesday, January 7, 2020 19:36 (Ana Lizeth Méndez Horta)

Business model

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.

Market info

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
$ 223,644,000
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
Competitor name
Competitor website
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 .
Traction / KPIs
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?
25
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.
Describe traction
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.

Finance

How much runway do you have left(Month)?
16
How is equity divided?
Equity type
Name surname
Email
Equity
Co-Founder
Ana Lizeth Méndez Horta
% 50
Co-Founder
Jorge Chamorro Gullón
% 50
How much money raised since start?
$ 8,000
Revenue lifetime
$ 0
Last months revenue
$ 0
Investment round
Angel round
Target fund to raise
$ 150,000
Equity on offer
% 10
Number of employees
2
Other info Write bullet points (Grants, prizes, acceleration)
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Team

Owner member
Yes
Member role
Co-founder
Name surname
Ana Lizeth Méndez Horta
Title
COO
Education
Bachelor Degree
School name
ITESM
Birthdate
26 February 1996
City
León, Guanajuato, Mexico
Short Bio
I am Lizeth Mendez, a Mexican woman who is passionate about solving problems and looking for new ways to streamline processes,I love entrepreneurship and I have 2 companies currently.One of my greatest strengths is resilience, because when something strikes me, I do everything in my powertoachieveit
Meeting story with Cofounders
I met Jorge during my university exchange in Valencia, Spain.
We worked together on a university project throughout the semester and it was when we learned that we were a good team, consisting of 2 leaders with ambition and previous know how.
That is why we decided to undertake this project together.
Working together time
In November 2018, we discovered that the construction sector had great business opportunities Therefore, we began to do a market study and validating what was the best way to contribute to this sector. In February the idea of ​​cosupplies was born, and we have been working on it, developing the first functional mvp, which has been validated in different exhibitions of this sector.
Owner member
No
Member role
Co-founder
Name surname
Jorge Chamorro
Title
COO
Education
Bachelor Degree
School name
EDEM Business School
Birthdate
01 September 1996
City
Godella, Valencia, Valencia, Spain
Short Bio
I am a human being, hardworking and entrepreneur, looking for grow and stand out, creating and giving others opportunities to grow with me.
I like to separate my professional life from the personal, knowing always when to rest from the professional, but always prioritizing the work.