В этом КРАСНОМ ОКЕАНЕ Выиграет Самый БЫСТРЫЙ | Сейсембай, Давлатов, Абдрахманов | Арена Единорогов 4

0:00AI will radically change this experience . Market research is hopelessly outdated . There is no transparency in project details . A number of problems that need to be solved right now . Seed . 486 , half a million . 700,000 dollars . I was practically ready to commit , but , well , I just don't see this takeoff in

0:18your project . You simply aren't covering the core competency . I believe very strongly in this project . How much money did you invest yourself ? It's much easier said than done . Well , that's true . For sure . Well , I’ve played enough in the casino today and no . You built one of the best agencies in

0:33the CIS . Damn , a passport . Irrelevant . Yes , I will invest . We are changing the market research

0:41industry . The problem we are solving is that market research is hopelessly outdated . You wait 2-3 months , you pay 50,000 dollars and get a report that might never be useful . We heard this from a large number of clients . We didn’t just make it up ourselves . And sometimes teams decide to skip this important step , rely on their

1:01professional gut feeling , and lose millions of dollars , hundreds of millions of dollars . Why is this happening ? Because life is racing at a crazy speed , at supersonic speeds . Business is racing at crazy speeds , conducting dozens , sometimes hundreds of thousands of experiments every month . And likewise , respondents are not willing to spend half an hour , 40

1:23minutes filling out a stupid , tedious survey . They are willing to give their opinion within 2-3 minutes max , because only three to four units of information stay in the head , and 90 % of respondents don't finish surveys . My team and I are obsessed with the idea of changing the market research industry . This is my

1:43big dream . I want to completely transform this industry . Already now we have a reputation module that allows you to monitor the market , collects information from open sources , and shows you your strengths and weaknesses , provides beautiful visualization , and helps compare you with competitors . And just yesterday we had a new release ;

2:03now we provide action points on what you need to change in your business to make it even more efficient . The second module is the survey module . Traditional polling is a Red Ocean , but we use AI , AI transcription , AI translation , AI , naturally , and most importantly , gamification scenarios that we develop one after another so

2:22that the respondent can express their opinion in 2-3 minutes , without getting tired or burdened . But nevertheless , this opinion will actually be more honest , because in our minds we bypass the filters that turn on when a respondent answers in their own words . And if during the survey you identify a

2:42respondent's loyalty , offer them a referral program , offer them to recommend your business to a friend , or reward them with gifts from our partners . The market potential is insane . The market research industry itself is colossal , 150 billion dollars . And now it is growing due to its tech segment , which is worth 43 billion

3:04dollars . This segment is growing by at least 10 % annually . In some countries , even more . And we are aiming for 708 million dollars within a 5 - year horizon . We accelerated significantly in the last 3 months : we raised funds , brought in new clients , refined the product , entered a strategic partnership with a

3:24company that has 300,000 clients in various countries , reached 6,000 dollars in ARR , and built a 600,000 - dollar pipeline because we hired sales and got funding . And looking at previous months , we started in January , we brought in four clients , and in November already six — well , five here . And our sales manager just messaged me

3:47about a sixth deal . These are our partners , including international ones , who are happy to collaborate with us . These are our metrics . As you can see , they are growing . And this is our progress and goals . We are aiming for a million dollars next year . And already our clients are tracking 600 locations .

4:04And we are raising 486 thousand dollars

4:09at a 4.2 million valuation . We are very precise , we love data , so our numbers are precise too . Now for the demonstration . It will be in two forms . You will test the product yourselves and watch a demo video from Natalia , our CPO and COO . Good afternoon , everyone . We promised a

4:27second lady , and she is here . So , colleagues , how does a typical marketer's day begin ? Probably with a cup of coffee , but not our CMO . He starts his day with our email . Because he knows the bot has already gathered all the necessary competitor information , and he just needs to click

4:44on the news he’s interested in to see what’s going on . Besides seeing a competitor analysis , he needs to understand what is happening at his own locations . He just needs to enter the system , select his location , and he will see a full , detailed summary . What’s good , what’s bad , what they

4:58are criticized for , what they are praised for . Even the managers who stood out will be in that report . Plus , of course , recommendations . And he can see this information both for his locations and his competitors ' locations . Just like that , with a click . Need to dive deeper ? How could you

5:12not ? Need to conduct a survey ? We have a fully ready survey system . We know that , due to cognitive bias , people can't remember or keep more than three to five points in their heads . And when we ask them to rank huge lists , it’s a real headache . That’s why our process uses light gamification , which ,

5:29by the way , you can try right now via the QR code . Use voice transcription , it works in all languages , too ; it translates any message in seconds , and you can see all results in real-time for all your surveys without burdening your analysts . A summary will be generated for you in just a few minutes

5:48for any survey conducted . We don't leave any client or partner behind at any point . We truly either lead them to retention or , conversely , lead them to acquisition , and they become our referral . Bravo . Thank you , Tanya . Over the current year , you've come quite far , and instead of one

6:07product , you now have four . And what about product-market fit for these four products ? Have you found it , do you think ? Actually , it's not four , it's a unified platform , a kind of knowledge center . Moreover , we have a slide in our sales presentation now that shows we can be used by a marketer , a CPO , a head of

6:25sales , even a CEO , and even a business owner . Meaning you can receive alerts ; if you want , at this stage of company development , if you want to monitor the market , you get emails and you see what's happening in the industry and where you stand in relation to competitors . So it's like one product ,

6:45a knowledge ecosystem . Well , I don't see that takeoff for you , that hockey stick growth . When will we see it ? Well , it has started . Ah , it's true , it's true , it starts today , starting with your money , it will begin . Actually , the thing is , when we talked

7:04last time , it was early summer , and we had a pivot . We were counting on moving within the framework of the previous product , but we pivoted , crossed out everything that was , and finished building our product . We raised money , hired a salesperson , and he already closed six deals in November . Oh , and

7:23we also shortened the sales cycle . There are deals that happened in two weeks . Is there automatic onboarding ? Not yet , but it will be . It will , it will . The site is already ready . We are preparing it very soon . What about the unit economics , after all ? How is the LTV ? What's happening

7:38in general ? Or is it too early to talk about it ? It's still too early to talk about it .

7:40It's still too early to talk about it . So far , we are working at zero . Yes , the thing is , we haven't turned on B2B advertising yet . We turned on advertising for respondents and saw a very cool response . Respondents react very briskly . We are building our own database of respondents because that

7:55will reduce , uh , reduce the duration of research . But we haven't turned on B2B advertising yet , so the only cost is our salesperson's time . And mine and Natasha's time . And so we are now May I ask how your equity is distributed among the team ?

8:09I’m the main founder , Natalia is the second founder . No , who else is a shareholder in the company ? Well , we had a COO , he’s leaving . So , you’re the main shareholder then , right ? Do you have a data scientist on your team ? We used to have a data scientist . We

8:22decided that we don’t need one at this stage . We have a team that helps us with all the data ; we hire them when we need to get specific work done . Plus , we have a permanent methodologist .

8:31That’s a core competency . You shouldn't outsource core competencies . You’re simply not covering your core competency . The girls are smart , they probably code it themselves on vibe-coding . Actually , all jokes aside . My first degree is in IT with honors , and then I have a management degree . So , we understand IT well . And our , uh , the

8:49person currently in charge of the technical side is super talented . We finally got lucky . This wasn't our first attempt , by any means . Tanya , I’m waiting for your PMF . Accordingly , as soon as you have that three-month track record , you know , with 30 % month-over-month metrics , come back , and I’m ready to talk to you

9:06about investment specifically . Wonderful . They want to do it sooner . See , you

9:10have to believe . The future is like that , isn't it ? The way marketing research is done right now ? It’s outdated , yeah . This is how it will be now : you can read all the data , listen to all the podcasts , any brand mention in any podcast worldwide , yes . You can

9:26data-mine all of that and sell the insights , like : in this podcast , a person with 10,000 views said your brand is trash , yes . Basically , you need to ingest the entire internet , analyze it , and sell the data . Not just surveys , yes , that can be done additionally , but in principle , why

9:46generate data that already exists , like how people behave , people are doing it , so you are seeing the future correctly . Ah , a brilliant pitch , the product is great . But here is my next question . Thank you . What is your defense against competitors and incumbents who will do the same thing ? What is stopping a

10:08Typeform or SurveyMonkey ? What are your defenses ? I have an answer to that question . We recently held a strategic session and dove deep into our competitors . It’s hard to dive into them because some solutions are closed off , and that’s not exactly easy to do . And we were happy to realize that we are now — well

10:25, I’ll be a bit ambitious here — the second in the world after our favorite competitor , who is in beta ( they only have beta functionality now ) . They did what we started doing a bit earlier , but since they are , of course , larger in scale , they've moved a little bit ahead . We are catching up with them now

10:44. How are we defending ourselves against this ? First , since Typeform and SurveyMonkey are the incumbents , they are the biggest , coolest companies . They have a massive legacy code base ; naturally , since the companies are 12-15 years old , it's much harder for them to implement innovations . That's the first thing . We are significantly

11:03faster . We have two or three releases a week . Sometimes Natalia and I say , " We need this specific functionality . " By evening , our lead developer — who has a few people helping him — says , " We've done it , it's in beta now , go test it . " So , that is speed , of course . The

11:19second thing is the methodological part . We put a lot of effort into our methodology . For example , our competitors haven't reached gamification scenarios yet . They understood , of course , that they need to implement AI , but it's harder and takes longer for them . Plus , they have a huge user base that also needs to be

11:36retrained . As for us , we have fewer users , so it's easier to retrain them ; we can even call them by name . So

11:43that’s why we are much faster , and it comes down to the methodology . Plus , we are also building what's called a research panel , which is our own base of respondents . This will protect us in our home region , but we don't just want to stay at home . Outside our home region , we will integrate with existing

11:59models and recruit partners . So , this ensures sustainability . Well , in the market you're working in , it's not even

12:07the product that wins , it's distribution . Accordingly , do you have any ideas or perhaps existing contacts with strategists whose distribution you could lean on to go through their ready-made networks ? Yes , we are — well , we aren't negotiating , but we have at least two

12:27IT companies ready to cooperate with us and be our distributors . Plus , there's a person ready to represent our interests in Uzbekistan . We are currently in the process of finalizing agreements . So , we want to enter other markets through local partners who already have networks built there , and through local B2B SaaS marketplaces .

12:47Overall , I was almost ready to commit , but I was completely cooled off by the departure of the CTO and the data scientist . Oscar , everything is clear now , I want to do it , the motivation is there . But what exactly should I do , what should I build with my own hands ? That is a very

13:04good question . That's why I created a Telegram channel where we look for the best ideas worth spreading all over the world . I share what I see there every

13:15single day . I am also on the lookout for new investment ideas . I look around the world for the very best things available . Every day , various startups pitch to me . This isn't for everyone ; it’s specifically for entrepreneurs and investors who want to reach their potential . For everyone wondering what's next , I created this channel so

13:35we can walk that path together . You already know where the link is . I was completely put off by the departure of the CTO and the data scientist . No , I don’t think your team is fully equipped . You don't have a team that can win at this moment . Your pit — well

13:56, actually , the pitch was superb . Yes , you did a great job , everything is fine . But there is no team , and you need to win . You need a very strong , incredibly talented sales lead . Yes . If you’re asking where to attack , I would go after emerging brands . I wouldn’t try

14:11to sell to Beeline , Mars , and so on . I would sell to rising brands that are currently promoting themselves heavily on marketplaces and online . They need a Nielsen , figuratively speaking ; they need a modern Nielsen , they don't need the old one . And among those clients , you could really win , right ? And those

14:28are the brands of the future . If I were you , I would target those future brands . The fast-growing companies on marketplaces and social media with a 1-4 % market share . If Murat is waiting for Product-Market Fit , I am waiting for the team . I'll give a very brief comment . The thing is , our original CTO , who helped

14:48register the company , left . And our new CTO has been with us since January . We’ve already agreed on an option for him now . So , we have a super reliable , great CTO . As for the data analyst , yes , we don't have one , but we only raised money in September . Before that , we

15:04were bootstrapping ; we funded our growth ourselves . Natalia and I built the product entirely with our own money . Tatyana , I want to become your client first and use your services for a bit , maybe a month , and then I’m ready to be a partner . I want to see it from the

15:24inside . Wonderful . So I’ll come in and take a look , because I have my own vision and understanding of how it should work . And perhaps I can help strengthen you in some way . They are telling me they can show the results on the phone . Right now , if we bring the camera closer , we might see

15:38some results . So , we mostly had non-professional investors participating , but what is our rating ? To become a successful startup founder , you need to have money invested in you . The very first point is , uh , that investors themselves should use your product . So we are on the right track , you and I.

15:56And the second point that was highlighted is a brand with a strong mission . And the third point is that the founder must have a successful exit . And among the losers for us are founders under 30 . Sorry , guys . Oh . Well , thanks a lot , we could have ended on a higher note . Uh , but overall

16:16, well , I would rate it 7 or 8 out of 10 , because there is real interest and the reception is positive , but as always , there are moments when random words or phrases are misunderstood . Well , that's a little sad , but overall , I'd say yes . Actually , I was also pleased by the interest from

16:37entrepreneurs , because after the presentation , people came up who really want to become platform users . This proves its relevance even in such a large arena . So we are optimistic ; yes , eight out of ten would probably be a fair assessment . And honestly , we enjoyed it ourselves , because there were really interesting questions , a

16:55good discussion , and we even managed to pitch a little . Murat Abdurakhmanov

17:00said he is interested in our project , but a little later , once we show significant growth . And we are naturally very interested . We have truly wanted to work with this investor for a long time . And Saidmurod Davlatov said he would be interested in looking at us as a client . And to be honest ,

17:20that was our second secret goal — to find cool clients , big clients . And , uh , this is also a possible , possible path through which an investor might come to us . And that is exactly how our first investor came to us . She was a client first .

17:36I returned to Russia from America at 18 and remembered this quote very well . It is Steve Jobs ' favorite quote , actually . And throughout my founder career , one might say , I tried to act in a similar way . And looking at what is happening with AI now , how AI is generally changing our world , and looking at how

17:57we are now making that super important decision of where to go out — in America , it's called " going out " — I see that AI will radically change this experience . This thing will definitely

18:09change . A month ago , we were at a very early stage . I gathered a team , I raised a venture round , and we started to research and break down into molecules all the existing assumptions . The reality turned out to be very interesting . In Los Angeles alone , the city we decided to start in , there are

18:25thousands of events happening every month . And there's this thing called the paradox of choice , you know , when there are too many options , choosing becomes even harder . Oddly enough , there's no single aggregator for all events . The information overload , like how people are bombarded with emails in America . They use email , messengers ,

18:43and social networks very actively . Well , it just makes choosing even more difficult . Despite all this variety , our research — and we're doing a lot of it right now — shows that 70 % of adults experienced something like FOMO in the last month . It's kind of like , you know , if Robbie Williams was in my city ,

19:01for instance . I missed him , and I like him so much . Well , okay , forget Robbie Williams . The Oscars came to my city , and I missed it . And people get really upset about things like this . And 40 % of people wish they went out more often . So , they have this specific need , but

19:16there are specific pain points . Looking

19:20at all these problems and analyzing them deeply , we realized AI is just the thing ; AI can know exactly what's happening in your city . AI can certainly know more about you than you can put into a search query . Formulating a query is a huge problem for most people . That's what we discovered in our research . Seeing all

19:40this , we started moving toward a personalized AI agent that would be , on one hand , a smart aggregator that knows everything happening in the city . And on the other hand , it constantly learns , getting to know more and more about

19:55you . Not just through dialogue when you message it , but by logging in through Spotify or Apple Music , because having access to your playlists says a lot about you . And it suggests specific options tailored to you . I mean , this isn't just some generic personalization . Just imagine , it knows you have two

20:14kids , you don't like big public events , your kids love hands-on activities , and you need parking for your large car . This is something AI can do today . AI can help organize a group . You know that situation where some people show up , some sent money , some didn't , and who's eating what , what should we order

20:33? All of this happens in our chats right now . It's a major headache . And , by the way , it's a very viral mechanic that we are testing right now . AI can find cheaper options , send reminders , help plan in advance , and so on . So , AI can do everything a personal assistant

20:50has been able to do for a long time . To our esteemed guests , we want to make this accessible to everyone using AI . That is the huge power of AI that we see and are currently working on . Basically , if you look at sites where people make decisions today , they are sites from the 2000s . These are just

21:12pictures with filters . There are social networks , also a big block , but if you open any social network feed , it's hard to find an event there , it's just an endless stream . And we know for sure that it won't be like this . No one knows for sure how it will be different . Even ChatGPT doesn't know what AI

21:29will look like in 10 years . But whoever finds a different way of doing this will likely catch a unicorn . We have assembled a team . We are moving forward

21:43, we have enough money now to test our hypotheses and roll out the product . We are not rushing to roll out the product because we understand it's not the best way to enter the market . We are testing all the features I mentioned , and we will constantly be raising more money because you have to run very fast here .

22:00But at the current stage , there is a window for investors to enter at an early-stage price . That's all from me . Big thanks . Thank you . I'll disclose right away

22:13that I've already invested $ 100,000 in the pre-seed . Yes . My main reason was very simple . Pitching is the most important art in entrepreneurship . I do it every day . I listen to it every day . Everyone who loves this format , I

22:33invite you to the incredible Unicorn Arena show , where real entrepreneurs meet real investors and negotiate live on air . It's called a show , but it's not just a show . It is a truly life-changing event for many . Some come with money , some come with a list of improvements for their company . Super networking , sitting next to me while I

22:55make investment decisions . hearing about the most interesting startups being built right now , who is making them , and how they sell them . Actually , everything happens without a script , without any plans . I invite you personally , all details are in the link under this video . I am currently

23:15traveling through cities . After every city , I get 50 messages that people saw it post-factum . In social networks , where people make decisions , people see where they could have gone yesterday . Yes . kind of , and it's cool . And they have constant FOMO . And really , while traveling lately , I've been doing my

23:35entire itinerary with AI , and it incredibly selects where I should go , what I should do , and so on and so forth . But it’s boring in a chat because there are no visuals , and yes , people are mostly visual creatures . You want to see pictures , videos , and so on , and say : " Yes . " In general , that was

23:52all I needed to know . Uh , I think it's a worthy attempt . Uh , and so I invested , in a way . Cool pitch , thank you . Uh , exactly , the right direction . Uh , a big market , it needs to be disrupted , but that's a big picture , and there could be dozens of

24:09different startups there . 100 % . What small wins or validated hypotheses do you have right now ? And what exactly do you have ? Well , is there at least some minimal traction in your hypotheses ? Yes , yes , yes . Yes . Oscar calls it finding how to attack the market . What we are doing now is looking for an

24:29angle of attack . Indeed , the market is very large . And in America , it turned out that the market is super fragmented . I mean , there’s a separate company that helps send out wedding invitations . It's a big company . Recently in America , a company that resells tickets was valued at 10 billion dollars . But ,

24:44uh , what are we seeing now ? We see , first , a big hypothesis important to us is to help people organize events using AI . Why is this a cool thing ? Because it's a clear pain point . I mean , how 70 % of people work , most likely it works the same way here . 70 % of people go to

25:01events because they are invited . They don't initiate : " Let's go to the movies , let's go to an exhibit , " and so on . But 30 % are those party organizers who invite other people . They experience pain . They say , they say : " We find an event in 15 minutes , but spend 2 hours

25:17rounding everyone up because this one can , this one can't , who's in , who's out . " But what is important to us ? In America , acquisition is very expensive . Viral mechanics are important to us . We need one person to bring in 10 . And that is exactly the mechanic that can work that way . Good example . There is a

25:34company called Splitwise . They help split the budget . Meaning I arrived , we all went to a restaurant together , who paid for whom . So we are currently working at the hypothesis level on such mechanics that can give us explosive growth . The second thing , uh , is FOMO . FOMO is a really strong problem . The

25:50third thing is the abundance of choice , meaning having such a smart aggregator . This is also , like , a big problem . Why ? Because people are saying : " We are literally being bombarded with all these emails . We can't read it all . How do we know where exactly to go ? I'd have to spend a ton of time . " It’s a

26:05bit like , you know , as you surely know . Basically , I try to pick a movie to watch , and I just get stuck . I watched 10 trailers , I’m already tired . I just gave up . Something very similar happens with events . Who among those here decided to come in the last 3 days

26:18? Please raise your hands . Yeah . See . Yes . People don't want to plan in advance anymore . People mostly make decisions today or tomorrow , right , last minute . And another barrier , which is actually very , very interesting . Basically , 40 % of people in America don't go . The main reason they don't go is that it's

26:35expensive . Because going to Universal Studios in America with a family costs 700 bucks , which , for Americans , is also expensive . They don't have that much disposable income . And they try to plan such things in advance and so on . But the amount of money , what we see now , this thesis , the cost of an event

26:50doesn't necessarily determine the quality of the experience you get . I mean , the emotions you get from pottery making or from going to a football game with the whole family , it might be about the same . Kids will remember how you made pottery rather than watching a football game you spent $ 1,000 on , buying jerseys for everyone , tickets ,

27:07and so on . And this idea of how to create alternatives — meaning the person isn't going , so we can give them an alternative . That is something we are testing now as well . How quickly do you test hypotheses and how do you know if one works or not ? What metrics do you measure for

27:20yourself ? We have several stages . Some hypotheses aren't that easy to test technologically . I won't get into the technical side now . Things like various models , vector search , and all the rest . In short , we do it this way . First , we have an educated guess . We say : " Well , this guess looks like a

27:37hypothesis . " We test it with customer interviews . It's the cheapest and fastest way . We conduct interviews . Sometimes these interviews aren't enough . We conduct quantitative research . Based on what we see , we then build a landing page , drive traffic to it , and see how it performs . People generally want to download an app that

27:52does exactly this . And even if they click , they can still cheat . They can cheat at that stage and at this one too . And then we roll out a simple prototype . And , actually , we show it to them . So we're doing it , well , in a step-by-step way . You know , like in

28:03auto repair ; I used to have a business in that area . We were building a digital ecosystem where they verify hypotheses , from the cheapest to the most expensive . Well , like , how much time does this cycle take you to test one ? The hypotheses vary , but we try to do it in 2-3 weeks . Right .

28:19Super . When are you planning to launch , generally ? Well , our beta will be out in December . Actually , I’m flying to Los Angeles right now , and we’re doing a launch there for a specific prototype . When the product is fully ready , I think by the end of winter , once we test all the main features ,

28:34assemble everything , and launch it . Well , that's the timing . That seems way too long . By modern standards , yes , unacceptably long . Guys are currently building an MVP in a week to test hypotheses , while you might be suffering from perfectionism , trying to build an ideal product , then taking it to market , only to realize it doesn't

28:55work or you're already too late . Then we misunderstood each other . MVP and launch are different concepts for me . I thought you were asking when we would reach the point of launching the finished product . That was the date I gave . As for the MVP , we are building it right now . And we are rolling it out

29:10at the speed I already mentioned . And a second question . You are going straight into the American B2C market , which is , well , a Red Ocean , right ? And the winner there won't even be the product , because , well , it’s not that hard to build , and there aren't really any high

29:24barriers to entry that I can see . The winner will be the one who has distribution and marketing , and there are already big players there , so what can you really pit against them ? If acquisition turns out to be too expensive , which is very likely , and we don't catch on to any viral mechanics ,

29:41which we are currently prioritizing , we see that there are big , diverse players , for example , payment services that have a huge amount of data . And we are currently working on a pilot with one such startup in Dubai , specifically . They have a large amount of data from banks , they're essentially standing with the merchants , and they are

30:00planning or building a loyalty program . And so , on top of this loyalty program , we can place this search feature that helps people discover new things . This is also one of our possible go-to-market strategies if what we currently have doesn't work out . So , in the end , where are you planning to launch , in America or

30:13not ? We , we , we are currently , well , look , here is what we have . Plan A , plan B , and plan C. Plan A is , of course , launching B2C in America , and all our efforts are focused there right now , but in parallel , we're talking to companies that operate worldwide so

30:25that if it turns out to be too expensive in America , we can do these things there too . I mean , entering the US B2C market is not just a task , it is one of the most difficult challenges . And doing marketing , especially for such things , the number of people who can actually do that for you in the US

30:42is really no more than 100 people in the whole country . There you go . And your presentation doesn't show that you have these competencies . Saying that you will do viral marketing in the US is much easier said than done . Marketing is my core expertise , because I built one of the best agencies in the CIS , and we worked with

31:00top-tier clients there . The CIS is completely irrelevant , it's irrelevant experience . Don't even think about your experience in the CIS , just forget about it . It's a completely different market with completely different costs . Leads there cost six times more , you know that . Well , that's true , that's for sure . Well , I'm definitely going to invest

31:17anyway . I just think that this market is broken to the max . I mean , the way people choose things right now , it’s just not the right way , you know . I think there is a chance and great potential , it's a bet on Max . I have known him for a long time too . Thank

31:34you , Max . Thank you . This format is extremely unusual for me , because I am used to talking to investors who have various analysts who thoughtfully ask many questions . Here , you only have 5 minutes . My pitch today was more like a TED talk . A pitch is when you speak specifically according to a format : what the problem is , what

31:52the solution is , what your traction is , how many hypotheses you've tested , how much cash you've burned , how big your team is , and so on . Today , I tried to inspire people . And to be honest , I really enjoyed doing it myself . And those investors who were on the jury even gave a very positive assessment .

32:08They said this is a very cool pitch . Although I came here intending to talk about what we do , our groundwork , the challenges we face , and why we’re trying to solve them . Today , I’d like to introduce you to the KODO project . It’s an AI CTO , a technical director embedded in IT companies that can spot

32:26and show you what needs attention before issues actually arise . There are people in the audience who have worked with IT projects . Please raise your hand . Oh , there are so many of you . No , please keep them raised . Now , put your hands down if you’ve never missed a deadline . Three hands . Excellent .

32:46That’s wonderful . I congratulate you . I’d love to meet your technical teams . They are wonderful people . But for the most part , I’m with those of you who lowered your hands , because 62 % of projects always miss their deadlines . Why does this happen ? There’s a lack

33:03of transparency in the depth and details of a project , and some issues and risks are discovered too late . There is no condensed essence . This is official data , so we can say that everything works for us , but that’s not always the case . We thought about what a CTO of a large company , with at

33:19least 50 to 100 people , wants when they come to work . They want to know what’s happening in their team , who is overworked or underutilized , what the current risks are , and what they can do right now to eliminate them . That’s why we created a product focused on management , which corrects direction and highlights important

33:38points . Imagine a CTO arriving at work . They open the dashboard , check the project they are interested in , realize Kirill Kuznetsov is working on it , and that they need to hold a one-on-one . They open Kodo , and it gives them a full plan for the one-on-one . How to conduct the meeting , what to focus on ,

33:55what questions to ask , what pointers to bring up for the opening , and everything else . This is the work currently being done with our current client . Both the team and the C-level

34:06executives are reacting positively . We found that 60 – 70 % of employees improved their performance because it turned into a gamified mechanism where they could track their improvements and monitor their progress . We identified bottlenecks between departments , optimized them , and highlighted important details for the CTO . So ,

34:30based on the figures reported by our first anchor client , we save 35 % on delivery time . Meaning your product is prepared 35 % faster . Accordingly , we calculated the savings they get compared to the price we offer . It is much lower , about 10 times lower . The total Project Management Software

34:50market will be around $ 15 billion by 2027 – 28 . The TAM we are focusing on is 36 million . If we take all users , that's 300,000 , and of those with teams of over 50 people , there are about 50,000 companies . From that pool , if we plan to capture at least 3 % over a

35:12three-year period , the numbers add up . We already have an MVP , we are operational , and we have deployed with an anchor client . We are refining and improving various processes , including integrations with different agents and infrastructure . Our next step is integrating cloud solutions by the New

35:33Year , followed by predictive analysis and highlighting optimal solutions . Currently , our system learns from the updates received from the client . As well as from our own internal research .

35:48We also plan to implement metacognitive prompting , where the AI learns from its own mistakes . By Q4 2026 , we plan to relocate to Singapore and then expand and scale . We conducted a competitive analysis and fixed everything . And what can we say ? How do we differ from our competitors ? We focus on technology and

36:10depth ; we research how to provide our clients with the best solution to optimize their work , see everything without wasting time , and achieve better results . We are raising half a

36:24million dollars at a 5 million valuation . Work is underway with the following companies , and we already have a preliminary agreement for $ 200,000 . Thank you very much . Thank you . You can relax now . It's all over , we’re all friends here . How long did it take you to sell to the first client ? From the

36:39first contact to the pilot you have running ? Very quickly . We started with our Land and Expand model . We implemented a small module they liked , and then we kept iterating and expanding until it reached its current form . Actually , we started with a very simple MVP that showed specific metrics and results . Very fast — one day , two days , a week ,

36:58a month ? Around a month . A month . Uh-huh . Can your software tell if a specific programmer was given a week's task , but finished in half a day and slacked off for five ? Well , it tends to praise more than it scolds in that regard . Meaning , if a

37:19person is productive , it will say : " You have an excellent employee who handles tasks very quickly . " Our focus isn't on control or punishment , but on motivating people toward better productivity and achieving great results even sooner than requested .

37:38Did you conduct a due diligence procedure ? Yes , and we are still doing it now . And how much were you asking for , and do you have an official report ? Regarding We can provide it upon request ; yes , we surveyed 100 people . 100 people in different companies , Yes . Well , I believe in such a future

37:58because for some reason people obey systems more easily than people , right ? When there's a boss , there's pressure . Like now , when all taxi drivers were put into Yandex Taxi , you see how polite they are , right ? It’s basically the same thing happening with almost all professions . Now you don't even need to manage anyone ; the system

38:19just manages them — it sees everything , total surveillance . Work if you want , don't if you don't , and you can pay them on a piecework basis . Basically , speaking specifically about the CTO role , first of all , the average CTO is a poor manager ; in fact , they’re all very bad managers , even if someone is

38:36sitting right in front of them , they chat with them instead ; they don't like doing that . They prefer to think about strategy or architecture , but they don't really like management . And in essence , they really need a copilot that sees everything . And that is a job that is highly digitizable . I think

38:53this is the future ; yes , I think it will be like that . It is total surveillance , but if you go to work , well , be prepared for total surveillance , obviously . My only question is , again , who could have thought that HixField , a company from Kazakhstan , would beat Google , Tencent ,

39:11and so on ? It’s the same thing here . It’s so obvious that this is the way forward that everyone wants to do it . In fact , every company in the world is currently building a CTO copilot at the same time . And everyone is obsessing specifically over the technology . Yes , absolutely everyone is doing it .

39:28Yes , well , now they have already made excellent copilot tools for programmers . This is the first segment . And now they are making copilots for CTOs ; at least , I don't know , 500 companies . I don't know exactly how many companies . And this is why it's hard for me to invest in artificial intelligence ,

39:45because every time someone stands in front of me , I can't figure out the competitive advantage , the moat , or anything ; one day it's one copilot , the next day it's another , and so on . You are very brave . That is what I want to say . Yes , well done , well done .

40:01The ultimate red ocean . You can monitor remote developers . We are currently connecting to the data , and by integrating with it , the system pulls everything in — comments , processes , tasks — and analyzes how the work was done , how departments

40:22communicated , and where there might be some bottlenecks . For example , in our case , we found that there was a problem in Delivery . One of the reasons was that QA was submitting tasks late , and just by changing the workflow order , we improved the product delivery time . I can say that we are diving deep into

40:45research , and we want to deliver real results with a real product . How are we better than the giants ? Well , the giants build big , one-size-fits-all solutions . They try to reach as many people as possible by providing them with more universal tools . We provide a specific tool for a specific task . For

41:03instance , while developing the CTO agent , we heard a comment : our CTO agent will provide solutions . It will work like this : the CTO opens their email , sees 15 decisions that need to be made , reviews them , and says , " Okay , this is approved , this is approved , but guys , this one needs to be redone ; it

41:19doesn't fit . " So , it will be a summary of decisions . Currently , it's an excellent assistant that optimizes processes . What did we find out during the process ? That we can also integrate an HR assistant and a project manager into the same infrastructure , and they will get along perfectly , leaving comments , complementing , and improving

41:38each other , thereby optimizing work and helping people focus on creative tasks instead of routine ones . On creative parts . I wouldn't focus on super-innovative companies where development is an art , because they employ people who are very unique and don't fit into standard boxes , yet they

42:00achieve great things . Well , 99 % of companies are not on the cutting edge . They are just doing regular things : integrations , APIs . Yes , your average client is just a regular company with a regular IT department for whom this is not a competitive advantage . Yes , they are your clients , not HexField . Yes ,

42:20HexField is a completely different level of development . About 3 to 10 % are " teal " organizations , and they don't need us . We are fine with the other ninety percent . By the way , we have some experience ; about two months ago , we funded a similar startup . They pitch to about ten companies a

42:38month , and ten companies sign contracts within the month . There you go . They even offered it to Hixfield , by the way , do you know why Hix refused ?

42:47Why ? In this case , it , well , it disrupts the trust between the CTO and their team . And when they start micromanaging them , this software , yes , allows you to monitor everything in detail , what's being done , right , then it's like , well , that trust is broken , and they didn't

43:06do it because they were afraid to break it , because trust is quite valuable in a team , yes , but it's not just trust , innovation is disrupted , because if you know , if you , for example , spend 6 hours thinking and do nothing , something great might be born , right , but this program tells you he’s done

43:22nothing all day . Well , it's for routine , predictable , repeatable tasks . It’s not for I want to say that it's a very hot topic , actually , especially for big companies where a thousand programmers are sitting , and it's unclear who among them is effective and who isn't . It’s very difficult to evaluate . And you are

43:41moving very slowly . That’s what I wanted to say . You need to move not just faster , but 10 times faster in terms of sales and implementation . And you don't necessarily have to go to the enterprise level right away . You can go to the SMB , you can go to startups , they all have this problem . A normal

43:57CTO doesn't really understand the performance of their programmer . Alright . How many companies are in the pipeline and how much money is in the potential client pipeline ? 50,000 potential ones , if we only take SMBs . No , who are you already negotiating with ? Who is warming up from cold to warm ? Oh , 10 large companies .

44:16In terms of money . In money . Well , about 200,000 . A 20,000 average contract . Well , I’ve played enough in the casino today . I am

44:30out of chips . From now on , I will only do things with Margulan where I’m guaranteed to make money . We have already funded a similar company , but I want to say that it is a very , how should I put it , potentially large market , and these are real pain points . You are heading in the right

44:47direction . You don't just need to walk , you need to run . Alright , we will speed up . Did you hear me ? Yes . The hypothesis is that the fastest one will win . Yes , in this Red Ocean , the fastest one will win . Yes . Large companies are precisely the ones that

44:58are slow . They are slow . That is your only competitive advantage . I have a small to medium business . And I deal with all these problems every day , and I am gladly interested in seeing you succeed . I want to check you out a bit , to see your actual results ,

45:15because I can't promote you if I don't see the results . I'll come to you as a client . My managers are sitting right here . One of them will probably come up to you . Yes . Thank you very much . Thank you . Expectations were met . In reality , you need to take advantage of every

45:32opportunity . It was a great pleasure to stand on stage with such wonderful people who talked about their projects , who are also inspired , goal-oriented , moving forward , seeking opportunities and trying to change the world . We know perfectly well where we are heading . And we think that , perhaps , the very investor we are looking for is watching

45:49this interview right now .

45:51My name is Sanzhar . I am the founder of Lumica . There are a number of problems in the education sector right now that need to be solved immediately . Teachers have routine work : grading homework , calendars , and reports . Students , meanwhile , are losing all engagement in their learning . Parents don't see the

46:10real picture of their child's progress . As for school administration , they lack systematic management , clear analytics , and convenient tools to manage schools as modern ecosystems . Lumica is a unified intelligence for schools that brings all participants of the process

46:30together . On the left side , we can see all the functionality of Lumica that exists at the moment . And also on the main menu , we can see everything a principal needs . Average performance , attendance , teacher workload , budget , and satisfaction . The artificial intelligence will also advise the principal on what needs to be done . For

46:51example , attendance in the 7th A grade increased by 8 % after implementing a motivation system . There is a student dashboard where you can see the number of students , what everyone is doing , and even recommendations on which students require extra attention . Very important information for statistics is universities and partners . This

47:13displays all our graduates , their average GPA , where they are studying , at which university , in which faculty , and where they work . We want to implement this a bit later . Besides this , we have testing . I'll explain why I'm showing this separately . Because the AI shows that in the 11th A class ,

47:3465 students need an additional physics lesson , specifically on quantum physics . The specific topic is written there . There is also an online library and digital content . We can even see which dishes are popular in the cafeteria today . Every teacher will have their own assistant that helps grade homework

47:56and plan lessons . And , finally , our teachers can engage and focus on the most important thing : our children's progress . For students , Lumica provides an AI tutor that helps with homework and explains complex topics in simple language . And all of this is gamified , with rewards , points , and levels to

48:18drive engagement . At any time , parents can check progress in the app , pay for school and meals , and use built-in GPS to see if their child reached school or returned home . We will operate on a yearly subscription model . Currently ,

48:40we want schools to pay us $ 2,000 , and each student to pay $ 100 . Or rather , their parents . $ 100 a year or — $ 100 a year . And the school also pays $ 2,000 a year . Our margin is currently

48:5850 % because we use OpenAI . But we are now training our own AI , and we expect the margin to increase to 80 % . Now , I want to talk about the CIS market . First of all , there are 5,000 schools with 1,200,000 students . Capturing 10 %

49:19of the private school market in the CIS alone means $ 13 million in annual revenue . But our primary goal is the USA , Europe , and the CIS . There are about 100 million children there . 1 % will amount to $ 1 billion in revenue . We want to attract a strategic partner

49:40for $ 700,000 in exchange for a 15 %

49:44stake so we can enter the market and start selling our products . It is also very important that the mission of the strategic partner aligns with our own . We are not looking for capital , but for an alliance for a mission . To make education modern , smart , and inspiring for millions of children .

50:05Thank you . Thank you . Discussion , please .

50:10Well , Sanzhar , you are basically entering a " red ocean , " aren't you ? I mean , there’s already BilimLand , for instance , which had all schools connected three years ago and an ARR of 6 million . And now they have merged with Freedom Finance . And then there’s Daryn

50:30Online , I believe , doing software for all schools at the Prime Minister's request . Right . And yet , this is all a B2G story . And B2G in Kazakhstan is a narrative that is very difficult to sell to future investors . It is , let's say , very unstable , not sustainable , because ministers change every two

50:52years , and nobody knows what the next one will come up with . And when we said that BilimLand had shifted from B2G to B2C , teachers started paying them . Uh-huh . 2,000 tenge a month is not that much for a teacher . But it fully prepares all the lesson plans and so on and so

51:12forth . More convenient . And this story is definitely already selling , for example . There you go . I mean , what I’m trying to say is that breaking into B2G in Kazakhstan , for instance , is already really tough , right ? There are tons of solutions there , and they all do more or less the same thing .

51:29Uh-huh . Right . And as I understand it , you haven't had any sales yet , have you ? Ah , no , there haven't been any sales . We finished the product just a week ago . Uh , we’ve agreed on a pilot in five schools . Private schools ? Yes . Yes , in five private schools . Ah , and

51:46there are agreements with BIL schools . They want to pilot it , too . Our current goal isn't B2G sales , because I have experience with B2G sales here . We conducted the Unified National Testing ; we were responsible for the technical part of running it . It’s quite

52:07difficult to get in there and quite difficult to sell B2G . But here , it’s specifically a B2C product — parents pay . And it's beneficial for schools , too . And the price we’ve set , I think , is optimal enough for any school to implement it . For that $ 2,000 , every

52:28teacher can grade their homework for a year , for example , and generate reports . The nuance is that we have the same product for both B2B and B2C . Sanzhar , B2B and B2C are two completely different strategies , really . You have extremely limited resources , both financial and human . Accordingly , you

52:49need to choose one , because they differ fundamentally from each other . Is there an example of an international company , like ClassDojo or someone , where students , schools , and teachers pay — someone who managed to get everyone to pay ? No one managed to get

53:04everyone to pay . But the point is that kids are taking GPT now and using it to do their homework . And now a parent can tell them : " Listen , Lumika will help you ; it won't just solve the problem , it will give you a thousand tips , but it won't solve it for you . "

53:20Here's your go-to-market strategy . Give it to schools for free , and sign everyone else up for a B2C subscription . Yes , you definitely won't make much off schools . You said it yourself , 12-13 million dollars is the CIS , right ? That's the CIS and only private schools , right ? If you win the entire private school

53:37market in the CIS , that’s a 12 - million-dollar business . No , that’s 10 % if I win . Well , the value lies elsewhere . Oscar , look , it's not even about the revenue here , it's about the client base . Because , let's say , if these are private school students and their parents , that's a premium segment , it's

53:53a real treat for any bank , for example , to acquire . It's not as important how much it earns as it is that they interact with this app daily . Yeah . Yeah . You can do some interesting

54:04upsells , right ? Like , if a child has bad grades , you could show the mom a pricey bag , right , to help her calm down a little . No , I agree , yeah . Well , in this presentation , I didn't see that ; what I see is that this business is something philanthropists are willing to do .

54:22Philanthropists who don't invest based on money , they just want schools to change , for the system to change . There are businesses that no one is willing to run without a profit . Well , for example , placing portable toilets at construction sites . There isn't a single person who does that just for fun , right ? But many people are

54:40involved in this business . Google did it for free , others do it for free . A bunch of big names say , " I'm doing this for free for schools . " But in the end , they do it poorly , right ? How a commercial project will likely win . It's just hard to compete in a market

54:55with so many wealthy philanthropists . Uh-huh . You see , right ? I don't know what to compare this to . Maybe , in Almaty , there are many beauty salons run by the wives of wealthy people . Yeah , it's kind of hard to compete when they spend 10 million dollars on renovations . Uh-huh . Eh , usually that's where it ends , so

55:13you'll be able to compete just fine . Yeah , to be honest , I really believe in this , uh , this project . How much have you invested yourself ? How much do you believe in it in terms of money ? What does that amount to ?

55:27Mmm , well , approximately 100,000 dollars . Is that a lot or a little money for you ? For me , it's normal . Well , it's neither a little nor a lot . Purely for show . What would that mean ? Is it painful to lose , or did he mean , is it a lot or a little for you ? Well ,

55:46I wouldn't say it would be painful to lose , but it would hurt because we invested in this product . And the very idea that our future , for instance , our future children , they use ChatGPT instead of learning . Teachers themselves can't focus on the main thing . And all these pain points , you

56:07know , don't let me live in peace . And when you see that , you just can't walk past it . Even with the option to change something .

56:17I’m incredibly happy that I grew up in a different time , because if my parents had this app , I’d be in big trouble . Yeah . Back then , they were called in once every three years and told , " Your kid is acting crazy , are you aware of this ? " Yeah , and if my

56:31parents had an app like that every day , they’d see everything . It would just be a living hell . It’s a living hell for the kids , right ? A hell . And first and foremost , it’s a living hell for the parents . I have an app where I can get daily notifications that everything is going wrong with my

56:49child . Yes , but that will be the future . That’s a fact . I don’t know if this future is right or not , or if the world will become a better place because of it . Of course , it’s total surveillance of children . It’s , well , it’s a lot of pressure on the child ,

57:02a very significant amount of pressure . Pressure doesn't always work , but this is the future , yes . In my opinion , the reason I'm concerned is that the maximum willingness to pay is maybe 5 to 10 dollars , and you would need to sign up almost every student in the world for this to be a big business .

57:20But I really hope you succeed . How can we help you ? If you could tell us which direction to move in and how to view this product . Sanzhar , look , you have a full-cycle ERP system for schools , right ? That already exists . It existed 10 years ago , but what you’re pitching is an AI

57:39for teachers , an AI for the principal , and an AI for students to boost their motivation to learn , right ? Everyone had that one teacher in childhood who made them love learning and soak up all that knowledge . And whoever comes up with an AI that replaces that motivation and inspires learning will have a trillion-dollar company .

58:01Uh-huh . And the second point , look , we still have strategists who want a " super app , " they bought LX , now they want to launch something like a taxi service , a competitor to Yandex , so for their ecosystem , having access to millions of parents would also be very relevant . This would be a channel for

58:22rapid distribution for you , and I believe they have several million customers . Aha . Thank you very much . And the second point is , I wouldn't recommend you dilute yourself and sell more than 10 % at this stage . Don't rush , because

58:37if you want to build a truly big company , you'll have plenty of time to dilute later . You need to maintain control of the company , at least through Round A. That's why at pre-seed , it's generally not recommended to give away more than 10 % . Once you've come that far . Get in touch with my

58:57team ; we are shareholders in Heliber and Tamas . These are the two largest schools in Kazakhstan by revenue . And if you can implement this there , then I

59:08will invest . That’s great . This will make it immediately obvious . These are two very demanding schools , the most demanding ones , because everything that appears on the market comes to them first . That’s the first point . If you can get in there , it will be a really big case , a big indicator .

59:27That’s one thing . Secondly , if you do get in there , then as a next step , I can introduce you to Seducate Online , Murat is an early investor there . They — I call it selling kids — they take children from developing countries and send them to universities in England , the USA , Canada , and so on . Well , I

59:46tell them , you're exporting children , right ? But in reality , they have over a thousand schools in India , hundreds of schools in Brazil , and so on . You can go there later , but first , you need to clear this small hurdle .

59:59Sanzhar , if you handle Margulan's school , I'll take you on too , because I have the number one school in Tajikistan . I want to see the effectiveness of your team , to see the results of the product you are proposing . This was in the field , really , it wasn't just a pitch , it was real field

1:00:13work . Thank you very much for your attention . Thank you very much . Well done . Man , the show was cool . I am thrilled . Oskar was just irresistible . I didn't manage to pull off the round , of course

1:00:28, but nevertheless , Margulan Kalievich said that if I pass the test and we verify the hypothesis , he is ready to invest that money in our company . I think that together with him , we can enter the global market and ensure that children study with desire . So , something like that .