
There are now thousands of entrepreneurs in India, and many more Indians are starting their own businesses as we speak. Even with mistakes, disappointments, and setbacks, all things considered, startup founders continue to want to realize their ambitions, no matter what.
>>>Sramana Mitra: So, from 2017 to about 2020, that’s the phase when you crossed the million dollar milestone. Then COVID accelerated your situation. What happened?
Mort Fertel: On the customer side, I mentioned what happened there. It’s a hypothesis. I can’t prove it. I think that with life being so precious and that idea being so in the front of people’s minds, people have become more intentional about how they want to spend their time. Laundry is just this burdensome task that we just have to get done. If you can present them with an alternative like we have, they’d rather spend time with their kids and spouses.
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This is a terrific PaaS company in the making with substantial predictive capabilities.
Sramana Mitra: Let’s start by introducing our audience to yourself as well as Pecan.ai.
Zohar Bronfman: I’m from Tel Aviv. Prior to founding Pecan along with my co-founder Noam, I spent most of my days in the academia. I did two PhDs in parallel in supplementary fields. I did one in the field of computational neuroscience, and the other in the field of philosophy.
>>>This report from Gartner identifies the top strategic technology trends for 2022. These include generative AI, data fabric, distributed enterprise, cloud native platforms, autonomic systems, and decision intelligence. For this week’s posts, click on the paragraph links.
>>>Sramana Mitra: I’ve got two nuggets out of your initial story. One is using Indeed to get some of the sell side going. Then really building in virality into the app. On the buy side, laundry services Google keyword search. I take it you were self-funding this company.
Mort Fertel: Yes.
Sramana Mitra: The business model is a commission on the transaction size?
>>>Sramana Mitra: What is happening in the algorithm? You are processing tons of resumes and training your model to determine what are good ways of representing information. You have a database of skillsets. Your model understands what’s a good way of representing that skillset. When you process resumes, you can figure that out. Is that roughly the algorithm?
Kiran Pande: It’s a lot about writing. It’s helping them communicate better.
>>>Sramana Mitra: What about on the sell side?
Mort Fertel: It might be interesting to note that the first sudsters – what we call the washers – were my wife and I. That didn’t last long. That’s how we started. The key to the growth of the platform has been the same thing. Create a phenomenal experience for the workers and they will tell their friends and family. It’s been primarily word of mouth.
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Entrepreneurs are invited to the 553rd FREE online 1Mby1M Mentoring Roundtable on Thursday, November 11, 2021, at 8 a.m. PST/11 a.m. EST/4 p.m. CET/9:30 p.m. India IST.
If you are a serious entrepreneur, register to “pitch” and sell your business idea. You’ll receive straightforward feedback, advice on next steps, and answers to any of your questions. Others can register to “attend” to watch, learn, and interact through the online chat.
You can learn more here and register to pitch or attend here. Register and you will receive the recording by email, even if you are unable to attend. Please share with any entrepreneurs in your circle who may be interested. All are welcome!