Introduce your startup and give a short description of what you are doing.
Microblink is a software development company that develops computer vision technology for mobile devices. Initially the technology was used in Europe’s banking sector for real-time invoice scanning on mobile phones. To expand the user base the PhotoMath mobile app was developed to showcase Microblink’s mobile OCR technology. But then users just loved it, and PhotoMath has become an educational app (or tool) of its own. You just point your phone camera toward a math problem and the instant solution will show on your screen together with steps needed to get to the result.
Who are the founders, how did you meet, what are your different roles in the startup.
Damir Sabol CEO, Sasa Skevin COO, Jurica Cerovec CTO and Izet Zdralovic CMO have worked together on previous startups.
How was the idea for your startup born?
Damir’s son wanted him to check his math homework. Then Damir got the idea to use mobile OCR technology to check on math homework.
What is the main problem in education that you aim to solve.
Learning math can be a difficult task for children. Either when children need to check for a correct result or in situations where they do not understand how a certain math problem is solved. While doing homework most often children do not have anyone to help (or anyone who understands the math problem involved).
Our PhotoMath app solves this painpoint by guiding children step-by-step through the process of solving a math problem.
Who are your competitors? What sets you apart from them?
Our competitors are Wolfram Alpha, Mathway and similar mobile apps. We differentiate in the way we use the camera phone for input, which makes input extremely quick and easy. Our competitors, however, use manual input.
In which markets / regions are you active. What markets / regions are next.
The app is available worldwide.
Who is your target audience.
Our target audience are:
– children – learning math in school
– students – for difficult math problems
– parents – checking their children’s homework
How do you engage with your target audience. How do you convert them into users of your product.
PhotoMath is free for download and at the moment. We rely on word-of-mouth, which has brought us around 12.000.000 users in the last 6 months.
What is your business model. How much does your product / service cost.
The mobile app is free. Our main focus is on adding features to support entire K-12 and SAT math curriculums.
We do live from mobile OCR SDK that are sold to other developers.
If you raised funding, how much did you raise. Who are your investors. If not, are you planning to raise funding.
We are self-funded and looking for seed investment.
Are there milestones you are especially proud of and would like to share.
– supporting three major mobile platforms: iOS, Android and Windows Phone
– 12.000.000 installs
– 30.000.000 math problems solved per month
What are the next steps in growing your startup.
– grow our user base and usage
– new features