TECHNOLOGY
Platvix is a new AI-supported platform , created by university friends Aqib Zeeshan and Zeeshan Ali , to connect start-ups with investors . They explain why support from the Tees Valley Securing Investment Programme has been crucial .
Tech start-ups – Zeeshan Ali ( left ) and Aqib Zeeshan of Platvix are receiving support from the Tees
Valley Securing Investment Programme to boost their AI-supported network platform .
TECH
The new platform to connect start-ups with investors
INTRODUCERS
PICTURE : CHRIS BOOTH WORDS : SARAH DALE
When Aqib Zeeshan , known as Zeeshan , and Zeeshan Ali met as international students and roommates at Teesside University , the pair quickly became friends .
Both from India , Aqib Zeeshan , 25 , recently graduated with a master ’ s degree in computer science and Zeeshan Ali , 27 , with a master ’ s degree in aerospace engineering .
They co-founded Platvix in February following a Eureka moment when discussing how to achieve investment for their business ideas .
Platvix is a platform that facilitates connections between start-ups and a wide network of investors , utilising smart contract technology to automate and streamline the investment process .
It provides tools that help manage and automate much of the necessary paperwork and compliance reporting .
The name comes from ‘ plat ’ for ‘ platform ’, ‘ vi ’ for ‘ value of investment ’ and the ‘ x ’ represents every start-up ( the ‘ x ’ in an equation ).
Zeeshan says he is the “ ideas person ” whereas Zeeshan Ali oversees operations , having gained valuable business experience back in India .
“ I worked as a software engineer for two years before I came here ,” says Aqib Zeeshan , from Hyderabad .
“ I did my master ’ s project on a complex platform using AI . I showed it to Zeeshan Ali , my co-founder , and he said ‘ why don ’ t we use it to link start-ups with investors ?’. That was our Eureka moment .
“ We had talked about our business ideas but it always came down to funding . With start-ups , there can be a lot of imposter syndrome , and you have to be in the right place at the right time and know the right people .
“ There are some great start-ups so we thought if we can show investors the data and automate the deal management , it will increase investment in start-ups .”
Zeeshan has been working with Gary Lynch through the Tees Valley Securing Investment Programme to explore opportunities to secure finance for the product ’ s testing and market launch .
Tees Valley Securing Investment offers dedicated support to help businesses access funding opportunities .
You can get personalised support to strengthen your investment readiness and directly connect you with grants , funds and private investors .
Support is delivered on behalf of the Tees Valley mayor and Combined Authority and is fully-funded by the UK government through the UK Shared Prosperity Fund . The programme is open to SMEs based in Tees Valley .
They also introduced the pair to another of the combined authority ’ s business support programmes , Tees Valley Labs , which provides expert mentorship for entrepreneurs , start-ups and scale-ups .
They started ‘ The Stable ’ six-month incubator programme , delivered by Alt Labs and based at Flok in Middlesbrough , in July .
“ We are confident in the innovation element of our business but the businessrunning side of it we need support with ,” explains Zeeshan Ali .
“ As a tech company , you want that validation , and being selected for the programme has boosted our morale . It ’ s pretty exciting to see the belief they have in us .”
Their website is live and is taking early interests , with the complete platform to be ready before the autumn .
It works by start-ups and investors registering their profiles so they can explore curated opportunities , connect and engage with potential matches through an AI-based matchmaking engine , and secure investments .
Start-ups pay a subscription fee and a success fee when they are matched with an investor whereas investors like VCs pay a higher subscription fee to access data analytics and more .
So far , 60 start-ups have signed up to the programme and the pair are in talks with investors to onboard them ready for the platform ’ s launch .
“ The support we have received is a catalyst for us to speed up the process of launching ,” he says .
“ Everyone is really supportive and it is going great . We are being supported to grow so we can be in the position to support others to grow .”
Mike Racz , Tees Valley Business Board lead for business growth and founder of Racz Group , said : “ This is a fantastic example of how we ’ re getting targeted support to talented local entrepreneurs at the right time , helping them to carry that bright spark and initial concept through to market validation .
“ I ’ d urge anyone who is sitting on an idea and in need of the support and connections to help take it forward to check out the raft of support that the Business Board has rolled out for local SMEs .”
Follow Platvix ’ s progress and find out more at platvix . com
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