Biotron announces outlook for Q1 2019 and revisits last year
Dear Biotronians,
First of all let me wish you all the best in 2019! Last year was awesome and your support kept us going, which we truly appreciate. Let’s dig into what happened in the previous quarter.
Here are the development updates for November and December in case you missed them, so I don’t have to repeat everything. Below is just a selection of the most important information with some news.
Operations
We’re happy that Biotron became a member of Slovak Alliance for Innovation Economy, which will serve as one of the supporting platforms to grow our business. Later in December we’ve been selected by Slovak Business Agency as one of 5 promising startups for a monthly internship in Cambridge Innovation Center. It will be a great opportunity for us to meet and discuss our business with renowned mentors and potential partners in the US.
Product
The first phase of our products is nearly finished. Apart from the legal framework we put a lot of effort in the technology as well. Currently we’re finalizing our mobile SDK for Android, with iOS soon to follow. Once we get enough traction with them, we’ll be providing processed location data and visits attribution. In analytics we’re providing location intelligence and starting to work on a self-service app for a broader spectrum of industries. In our Data Lab we started with custom development projects and data monetization as a service.
Business — Biotron Labs
Currently we have two project, 3 more in the final stages of negotiations and around 50 more in the pipeline in different stages of discussions. We’ll be announcing the first two project in the coming weeks along with first rewards for users.
Validation in 2018
GAFAM (Google, Apple, Facebook, Amazon, and Microsoft) kept further increasing its prominence in big data and AI, growing from advertising and mapping to other industries, such as retail and health. This proves that decentralization of data is increasingly relevant to compete with this oligopoly. Biotron’s vision is thus more valid than ever before.
Data collection through SDKs in mobile apps is still an industry standard and is one of the most efficient ways how to compete with GAFAM and other prominent companies in this field. In North America the market is reaching its potential, as most of the relevant apps already collect data in this manner. Other regions are getting a lot of traction, most notably LATAM and APAC. GDPR proved to be a big setback in the EU making businesses and users less reluctant to share data. We’ll have to continue our activities to find a specific niche of partners.
Big data analytics is nearing the productive plateau with numerous applications in various industries. We’ve seen quite a lot of demand in the Americas, APAC, and EU. To minimize initial costs we’re focusing on EU where we have the strongest presence. Being fully GDPR compliant also helps as a lot of non-EU companies discontinued their activities in this region.
Q1
As we previously advertised, we’re preparing a token burn. The reason is that after the initial validation we would like to have a more realistic amounts of tokens based on our needs and the current market trends (we’ll keep you posted!). We’ll be also issuing first invoices, which means we’ll finalise the validation of our model with user rewards for using their data on analytics. Martin and Jakub (COO & CPO respectively) will take part in the Cambridge internship in February. And last but not least, having the initial feedback from partners we’ll improve our products and continue to validate our vision. We’re currently in discussion with more than 50 organisations, with several in the final stages. We’ll announce new projects as soon as we’ve signed all necessary paperwork.
Best regards,
Pavol, CEO of Biotron.io
