Photo - Nwicode
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Nwicode

Service for quickly creating mobile apps for IOS and Android

Russia, Moscow region
Market: Internet and IT, Artificial Intelligence, Mobile applications
Stage of the project: Operating business

Date of last change: 11.01.2021
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Idea

Our mission is to democratize app development by enabling everyone to create digital products that meet their needs.

We have developed a program that will help businesses save hundreds of thousands of dollars on mobile app development, with the use of artificial intelligence.

Current Status

With each passing day, the growth of our customers increases, we have provided them with early access and a Fremium subscription to help with the testing of the beta. We started making the first sales, but the lack of brand recognition and information in the media slows down the introduction of our product to the market, so we are on the lookout for financing.

Market

According to App Annie, the mobile app industry generated a whopping $41.1 billion in gross annual revenue, expected to grow to $50.9 billion. According to Statista forecasts, gross annual revenue will exceed $189 billion in 2020.

1. Shopping and lifestyle solutions show 81% growth
2. Apps for travel, sports, health and fitness - along with messengers and social apps - grew by 53-54%.

IIn 2020, users spent $141 billion in app stores, which is 75% more than in 2016. It should be noted that $ 110 billion is the revenue that developers and publishers receive from app store users as a result:
- app purchases in the store; - in-app purchases;
- subscribe.
and, accordingly, revenue from displaying ads to users and transactions bypassing stores are not taken into account (the business model typical for services such as Uber, Starbucks, Amazon, etc.).

Problem or Opportunity

In 2020, a digital product without a mobile app will lose a significant portion of its audience. About the same story took place at the turn of the century: in the beginning of the zero lack of a site in a serious organization was considered a moveton and then the task was greatly simplified by the designers of the sites (later: landings). Now the ball is ruled by mobile applications and many are trying to make them with the help of various designers

Today, many companies have started to order their own mobile applications spending on them from 5-10 thousand dollars and 3 to 6 months of waiting.

On Black Friday alone, in 2020, 75% of purchases from major retailers were made using mobile apps. Today, every company wants to create its own application.

Many companies are not ready to do so right now. High development cost of $5,000 to $10,000, and 3 to 6 months waiting for launch

The cost of support and monthly maintenance requires additional costs and staffing.

Solution (product or service)

What if they could run it in a couple of days and spend no more than $100?

So, we have developed the platform Nwicode, which not only helps to save small business tens of thousands of dollars, but also increases the growth and value of the company itself, making their customers more loyal.

1. Helping businesses save hundreds of thousands of dollars by developing and supporting a mobile app. Launch time from 2 to 5 days.

2. Increases brand reputation, company growth and customer loyalty by more than 45%

3. Continuous support and updates of the platform. Provides a new sales channel and full automation of the process using AI in the mobile app

Competitors

We have strong competitors that have been on the market for more than 5 years, in total they have attracted more than 3 million users, such as: Appy Pie, Shoutem, AppMachine, iBuildApp.
But if you look at them carefully, what they've done new in these five years - nothing! This means that their customers also lag behind their competitors in development.
Nwicode introduces new technologies from AI to VR/AR. A simple example of using food delivery: are You driving your luxury car home from work and you have no time to go to the store, open the app and not distracted by product selection and ordering, typing this all on a smartphone screen, you do it all by voice, the virtual assistant will send and take your order, and you will not be distracted from the road and will not create traffic accidents.

Advantages or differentiators

There are many app designers on the market, but they are all monotonous and have a lot of limitations for the end user.
There are no additional settings for advanced users. Closed source. There is no integration with existing websites.
Weak Analytics and marketing system for promotion.

Our advantages:
1. Open source code for creating new features

2. Ready-to-use integrations with the most popular CMS platforms: Shopify, Woocommerce, Wordpress, OpenCart and etc

3. We are the first among our competitors to introduce AI, making it affordable and affordable for small and medium-sized businesses

Finance

Our monetization is simple and transparent. We offer our customers a choice of two options for using our service:
1. Saas - monthly subscriptions from $15
2. Boxed solution - license $60 to $800 per year

Business model

Our product is distributed through technology services and platforms:
1 AWS AMAZON
2 Hosting providers and web developers
3 Social networks and the company's website

Money will be spent on

The main part of the investment will be spent on PR and marketing, approximately 55%. We plan to spend 25% on increasing the number of employees. The remaining funds will be invested for depreciation and unforeseen expenses

Offer for investor

YC SAFE V1.1 CAP & Discount (Corp) Contract
7% and discount 20%
valuation cap $5,000,000

Team or Management

Risks

Our two key challenges are to ensure timely funding to meet Nwicode growth needs and in securing fast revenue to achieve short-term cash flow break even. The company also needs to maintain a robust platform to stay ahead of the competition. Similar to all tech companies, finding and hiring key talent is critical.

Incubation/Acceleration programs accomplishment

Successfully passed pre-accelerator Starta Ventures

Won the competition and other awards

We haven't taken part in any contests yet

Invention/Patent

This program is registered by the Federal Service for Intellectual Property under the number 2020660586.

Photos

Photo 1 - Service for quickly creating mobile apps for IOS and Android
Photo 2 - Service for quickly creating mobile apps for IOS and Android
Photo 3 - Service for quickly creating mobile apps for IOS and Android
Photo 4 - Service for quickly creating mobile apps for IOS and Android
Photo 5 - Service for quickly creating mobile apps for IOS and Android

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video