Moolya has engineered and built the World҃s 1st globally comprehensive digital startup ecosystem, which is LIVE since Jan 2018. It is the ONLY LIVE digital startup ecosystem in the world complete with all 6 communities and their digital avatars and the works. It was really interesting to know about Moolya, its Business Model and ICO from Usha Nirmala, the CEO, Moolya .
Here is the detailed Tech Talk :
Rama: What inspired you to join the league of ICOs and how has the experience been?
- First and foremost, it is a true validation of our idea at a global level
- Gives access to capital and participation
- Our platform already has many aspects of blockchain that enabled the decision to go ICO easier
- We operate on the principle of decentralization and democratization concepts and hence ICO
- Past success of ICO tempted us to look at that model instead of traditional investment that grab expensive equity
Rama:Tell us about the journey of building the world’s 1st globally comprehensive digital startup ecosystem?
Usha Nirmala: Moolya is the world’s 1st digital platform for the startup ecosystem users of institutions, ideators, startups, investors, companies, service providers and other enablers like anchors, advisors, mentors, gurus, captains and partners to converge, explore, collaborate, conduct, transact, trade, service, synergise and prosper in their efforts. With time tested concepts of clusters, chapters and sub chapters, we emulate the offline model of an ecosystem and model it up to present it as digital rendering of an ecosystem of ecosystems on moolya.
Using a patent pending process, Team-m has built a SaaS platform for boursing and trading process operations and conduction of an ecosystem that will let users to find infinite possibilities. moolya as the worlds 1st digital startup ecosystem is ideated by our founders out of our learnings as a startup entrepreneur in India and the travails and pangs we faced in the process. It is our effort on moolya to help you concentrate on your intrinsic aspect as you ideate about your moolah.
- There is nothing that exists to leverage the “network effect” and its externality current in this space
- We realised not all ecosystems offer same support for its community users and there are gaps
- There are not many formal means for entrepreneurs to seek advice and counselling from the learning of predecessors
- Every startup has to reinvent and transition to next step resulting in loss of focus and resources
- We wanted to help reduce the pangs of entrepreneurial journey using the “power effect of network”
- The offline ecosystem could do well with digitisation we are proposing
- Technology is a great leveller that can transform the ecosystem’s economic growth
- We can further democratise many operations of startup ecosystem
To summarize, moolya.global is a culmination of an interaction network, marketplace and on-demand service platforms.
Rama: What problem does moolya solve?
- Brings all players of the community on a digitally connected marketplace
- Self-discovery as and when you need it
- Networked ecosystems of ecosystems
- Leverages the network externality effect
- Reduces reinventing and efforts resulting in quality of work
- Rationalisation and digitisation of service and process
- Access to easy capital
- Democratisation of networking, mentoring and advisory on a digital platform
- Resolves record keeping issues
- Digital conversations are possible
- Application of data analytics to the process and interactions
Rama: Throw light on moolya’s mission.
Usha Nirmala: Our mission is to:
- Enable a true digital networked ecosystem of startups
- Democratise the startup ecosystem conduction
- Build a global ‘ecosystem of ecosystems’
- Cater to end to end startup matters across the globe
- Contribute significantly to the entrepreneurial community
- Promote fearless innovation
Rama: Moolya boasts of a great advisory team, generally ICOs have a few advisors on board, what led Moolya to have 21 advisors and mentors on board?
Usha Nirmala: Our senior team is at the core of idea – moolya. Every member is a result focused enthusiast specialising in business, technology and multiple domains, displaying a ‘never-say-die’ spirit, passion, innovation and grit. These senior members display strong traits of founders’ mentality – insurgent mission, front-line obsession, and owner’s mindset in all actions portraying powerful sense of responsibility towards their colleagues, stakeholders, products and decisions.
The concept of moolya relies on industry enablers like anchors, advisors, mentors, gurus, captains and partners. Our advisors are carefully chosen to replicate that in our board room so that we can take community decision on all our matters and PoC it to the ecosystem conduction.
Together Team-m demonstrate a sustained method to offer stakeholder satisfaction, profitability, innovation and trust. This large board of advisors are our eyes and ears to conduct a GLOCAL operations of this scale and grandeur.
Rama: Tell us about Moolya.global and how will global users benefit on moolya?
Usha Nirmala: Any ecosystem offers support, regulation, learning, market, value-adds, opportunities and wealth to its community. Popular offline startup ecosystems are Silicon Valley, Bangalore, London, Singapore, Hyderabad, New York etc.
On moolya digital ecosystem, we try to converge the startup community players like institutions, ideators, startups, companies, service providers and investors with established concepts of clusters, chapters, subchapters, teams, networks, offices, branches, incubators and partners
Moolya is digitally architected with such time-tested concepts by clustering the popular startup countries of USA, United Kingdom, Singapore, India, UAE, China, Australia and many others as digitally hubs. Business capital of such clustered countries are represented as chapters on moolya to further the fraternity and association of ecosystem. All moolya chapters associated with business capitals of clusters are run and operated by Team-m.
Sub-chapter are sub-groups and formal association of persons who are gathered together to increase their cohesiveness because of location stickiness, purpose, interests, common cause, community, similarity of work, institutions, network operations, club, guild, order or association. Sub-chapters are run by enablers like principals, anchors, advisors, mentors, gurus and captains of the industry.
- Our model relies on Metcalfe’s law of network effects and achievement of that critical mass of community users.
- Our business is to build that critical mass by aggregating, converging, and digitising the startup community members
- Achieve network externality effect by discovery, interaction, enablement and transactions of community members
- moolya relies on “2-sides network effect” principle where increase in adoption and usage of the original product by a certain community user increases the value of its complementary product to another group of users and vice versa
Rama: How does the token function within the platform?
Usha Nirmala: Moolyacoin is an ERC20 token of a patent pending innovative SaaS platform – moolya. global – a culmination of an interaction network, marketplace and on-demand service platforms offering services using the Ethereum blockchain framework and moolyacoin as its preferred mode to access and conduct transactions.
Currently we have no digital platforms that connect all the 6 startup ecosystem communities namely – institutions, ideators, startups, investors, companies, service providers and other enablers leveraging a single crypto coin globally for the following 10 benefits:
- Universal and borderless currency
- Highly portable inside and outside
- No transaction charges
- No payment gateway charges
- Instant liquidity
- Negate inflation effect
- Preferred choice of service providers offering discounts on moolya
- Increase purchasing power because of the network effect
- Fast, safe and trackable
- Other crypto efficiencies and benefits
Rama: What factors make an ICO successful and what role does marketing play in ICO’s success?
Usha Nirmala: In my honest opinion I feel:
- Being ready and having a marketable MVP is foremost
- A stellar advisory board
- A good team to back your operations
- Scale, volume and grandiose in your idea/concept/service
- Blockchain applicability
- Need for funds being validated by a crowd efforts
- Solid preparations in market strategy, finance, PR, branding, promotion and social and digital expertise is a must