Catching up with Velocity Fund $25K winner, Tabnex
Last November, Velocity hosted the Fall 2017 Velocity Fund Finals (VFF), a pitch competition that awards a share of $130,000 in funding each term to help startups build their business. Next Wednesday, March 28, we will host the 21st Velocity Fund Finals, to witness another 20 startups breaking new ground and pitching their innovative startups (register here). We caught up with one of the $25K winners from last term, Marwan Areibi, CEO of Tabnex, for a post-VFF update. Watch their pitch from last term.
Tabnex is an artificial intelligence platform that provides integrated intelligence on candidates to decreases the costs of hiring, and improve the quality of talent pipeline.
Q: How has your company developed since winning VFF?
T: Since winning the VFF prize, we’ve had successive iterations of our beta product, formed a partnership with Greenhouse (a market-leader in the recruitment software space) and initiated development of a new AI-enabled technology that builds on our current platform. We’re actively expanding our team!
Q: What is your company currently working on?
T: We’re currently working on two things: 1) further releases and integrations for our pilot customers to prepare for our upcoming launch and 2) a data enrichment API that works in tandem with the product to provide real-time intelligence on our customers’ talent pipeline.
Q: What do you enjoy most about building a startup?
T: The challenge that comes with doing what hasn’t been done before and what few dare to do. The lows get really low, but the highs are really high! There’s a saying that goes “Entrepreneurship is jumping off a cliff and building a plane on the way down”. The satisfaction of building a product and company and then seeing it gain traction is one of the most rewarding experiences you’ll ever feel. It will make all the blood, sweat, and tears worthwhile!
Q: What did you like most about competing at VFF?
T: The competitiveness of VFF gives you a real high and gets you to perform at another level. As corny as it sounds, it’s not about winning the VFF, it’s what you put into it that will determine what you get out of it. We competed multiple times in the past and lost, but networked like crazy after and still made “wins” for our company in the form of new mentors, potential customers, and resources. You will always get something out of VFF!
Q: Are there any tips you can give to startups that are pitching?
T: Tell a story. That’s how humans remember ideas. Pitch as if you were telling your best friend about your idea. You will always overestimate how nervous you appear in front of the crowd, so don’t fret. And like any other competitor will say, practice till you got it down pat and then practice some more.
Come join us on Wednesday, March 28, as another twenty startups will take the stage at the Velocity Fund Finals in the University of Waterloo Student Life Centre (SLC) to pitch their startup ventures. Don’t miss your chance to attend the event – register here! Audience members and live stream participants will have a chance to win 1 of 5 Fitbit Flex 2 Fitness Trackers!
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