Startup Spotlight: JUUBIX LTD

Supporting startups is our primary mission here at Startup Grind, so we feel pretty lucky to connect with and speak to founders working towards the same efforts. JUUBIX is one of these startups, working tirelessly to provide other startups access to financial and collaborative opportunities. We recently sat down to speak with Susan Falola, CEO and Founder of JUUBIX, to hear more about JUUBIX’s work, company hardships and successes, and where JUUBIX is headed.

What is JUUBIX?

JUUBIX is a Fintech SaaS, inclusive, unbiased digital infrastructure. Its collaborative financial tool functions like a jukebox, matching startups and social projects to relevant multi-cloud services, cross-functional expertise, and potential investors. This matching is done anonymously in real-time by offering secure communications, transparent financial data, free movement of money, and unbiased performance measurement. Based on matched criteria, JUUBIX allows you to shuffle like a Rubik cube across sectors and disciplines, creating diversified pools of ideas, expertise, and investment.

Describe how and when JUUBIX came to be.

Having lost my mother at birth, with no knowledge of my father, and a step-family that was not consistent, I quickly had to realize life was never going to be easy. I became a founder of an EdTech company, which over time I spent over ￡30K on before even going to market. I would attend various business events and consulting organizations, but they did not add overall value to my business. That was when the ‘aha’ moment came about!

I was able to cite a gap in the market for a solution that would simplify the connection between founders, key experts, and financial opportunities globally by matching their requirements, mutual interests, and value. Finance is the way of life! It supports and stimulates economic growth, especially for underrepresented gender and ethnic groups that lack ‘access’ to financial opportunities because of biases and delays in decision-making.

Lack of access to finance can inadvertently impact an individual’s or company’s growth, productivity, creativity, and employment while further depreciating their equitable existence, therefore greatly impacting society.

What makes your company and product different in this market?

Customers value our solution because it is anonymous and devoid of bias-decision making and gender discrimination. Our products differ from our competitors because we simplify the onboarding process, gamify the interactive elements, and provide a calculation of prospective stakeholders and positioning. All communication is voice-activated or done audibly, and is automated across the network to create a transparent framework of contribution.

What milestone are you most proud of so far?

I am most excited about partnering with Microsoft and Oracle for Startups! The support from Oracle, particularly Amy Sorrells, has helped make JUUBIX more visible and accessible to potential partners. I believe this supports and enhances the JUUBIX multi-cloud vision for success by simplifying our partners’ startup onboarding activities!

Have you pursued funding, and if so, what steps did you take?

JUUBIX has applied for institutional grant funding to take this venture forward and to sustain the collaborative individuals who have supported and enhanced the journey. Unfortunately, we have received no funding to date, but the joint efforts have continued unwaveringly. I had to release some long-term collaborators which was extremely painful, but I could not sustain their efforts due to financial constraints.

What KPIs are you tracking that you think will lead to revenue generation/growth?

Our key objectives are to obtain a 4% share in our serviceable obtainable market of 264M and to grow that over the next six months globally. Our Go-To-Market Strategy consists of onboarding 100 universities and schools across eight departments/subjects globally to build up the skilled-based critical mass needed in the JUUBIX network.

How do you build and develop talent?

Over two years, I collaborated with C-level professionals, freelancers, and other founders. I quickly understood their pain points and contributions and developed JUUBIX based on their participation. I participated in various hackathons, TechSprints, and programs to gain valuable insights. Simultaneously, I ran my virtual events, curated relevant topics, and spoke to formidable experts who speak to the heart of the JUUBIX solution. So I am the team — the physical JUUBIX — currently with a vast network of floating experts supporting what I am developing.

What are the biggest challenges for the team?

Lack of finance has been a big challenge! With no funding to pay for objectives to be met, I have had to work diligently to keep collaborative team members onboard throughout the R&D phases. This only validates why JUUBIX, a collaborative and finance tool, is useful and relevant.

What’s been the biggest success for the team?

Being selected on the Microsoft and Oracle StartUp program is a big win for JUUBIX. With their existing APIs and customer base, this offers a pipeline to get to market quickly while in a secure environment. For my personal successes, I was shortlisted last year in the TechWomen100 Awards 2020, Top 10 BLM Leaders 2021, and nominated as Rising Star 2021.

What’s something you’re constantly thinking about?

How to make money to sustain my efforts, and how to gain the relevant partnerships that pivot us into the spotlight.

Have you been or are you part of a corporate startup program or accelerator? If so, which ones and what have been the benefits?

Microsoft and Oracle for Startups programs.

Who is your cloud provider?

Oracle. Microsoft, AWS, Google

What are the next steps for JUUBIX?

We recently launched the JUUBIX Global TechSprint Leadership Program (GTLP) on July 27th, 2021, and we will be running the JUUBIX Factor StartUp Competition on October 2nd, 2021. The program creates a unique opportunity to immerse in emerging technologies, multi-cloud solutions and experience a dynamic entrepreneurial working environment. The StartUp competition is a battle of the hackathons, accelerators, and programs that nominate relevant startups suited to each category that have participated, won, or contributed within a team. Winners will then enter the JUUBIX solution!

Here at JUUBIX, we like to innovate, be different, and offer something unique. Following the finale on October 2nd, 2021, we will hold an open vote for the public to decide the winners, with a ceremony on January 20th, 2022.

What advice would you leave with other founders?

Having an idea is easy, but sustaining a flourishing business takes sheer grit and determination.

“There are no barriers to opportunities, JUUBIX your way to the top!”