Tech Pitch: Innovify
Part incubator, part "foundry" - meet the start-up helping other start-ups to find chief technology officers...
Company name: Innovify
Founders: Maulik Sailor (32) Vikas Agarwal (33) Ruchit Jani (33) and Prakash Pilley (34)
Background: CEO and co-founder Sailor worked in various technology and product development roles for leading companies such as Nokia, Microsoft, BBC, The Wall Street Journal, Betfair, and Visa.
Based in: London
Very simply, what does your tech start-up do?
- Innovify is a new breed of start-up foundry and technology incubator that turns people’s great ideas into incredible products and service.
- It provides support around three key areas – product development/management, start-up incubation and seed investment.
Tell us why there’s a need – what do you disrupt?
We address the start-up scene’s “missing gap” which causes the failure rate in the UK to be very high. We find the right technical co-founder (i.e. chief technology officer) with the appropriate skill-set and experience.
Most CTO’s don’t have wide skill sets and lack general product management expertise and agile and lean development practices. This results in the end product being expensive, not fit for purpose and, ultimately, failure and high losses.
Are you funded?
We’re currently going through our first funding round – crowdfunding on Seedrs.
What were you doing before starting?
Sailor has an MBA (Distinction) from Imperial College, London, an MSc from Brunel University, London and B. Eng. from Sardar Patel University, India.
He had the idea for a product-based startup during his MBA year, but failed to launch one mainly because he couldn’t find the right technical co-founders. Consequently, he founded Innovify as a product foundry to accomplish one simple mission: taking people’s great ideas and giving them the nurturing they need to become incredible products with supporting services.
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What’s the best thing about where you’re based?
We are headquartered in London and also have offices in Ahmedabad, India which gives us two great things.
London gives us access to one of the best start-up ecosystems, incredible user-experience designers and very advanced technical skills (although at quite a high cost).
Ahmedabad provides access to a good talent pool at, relatively, lower costs, enabling us to provide the right balance between creativity and cost.