NOQ

Idea

Introduction

NOQ solves the issue of queuing at events by bringing digital ordering to the industry.

We are much more than a cashless and contactless payment system. NOQ provides a safer, more enjoyable experience. Increased sales and profit for events, with clearer, sharper insights.

Our Past and Future:

In our first year of operations (2020), we focused predominantly on F&B ordering.

Our aim is to scale across other revenue streams in 2021, providing a suite of services such as access to schedules, tickets sales, merchandise ordering and in-app advertising.

UK Events Industry:

We are well placed within the events industry to capture UK market share through partnerships with Event Management Companies, Food Concession Groups, POS Systems and WiFi providers.

How it Works:

NOQ offers 3 solutions. Pre-order ahead of time, click & collect or delivery to a location within the event.

Operationally, we provide a bespoke solution specific to suit the needs of each event and ensure seamless execution.

Substantial accomplishments to date

- Jul 2020 NOQ launched at first event

- Sep 2020 Partnership with Nationwide Caterers Association (NCASS)

- Nov 2020 Product development & partnership with a global AI and cloud optimisation company (Searce Technology)

- Feb 2021 Press release in Standout Magazine

- Feb 2021 Partnerships with WiFi & Food Concession companies

- Mar 2021 Press Release in IQ Magazine

- Mar 2021 Panel Talk at the ILMC Tech Panel

- Mar 2021 Press Release in Access All Areas

Key Metrics:

- £275k+ transactions taken on the platform

- 13k+ active users (iOS and Android)

- 25+ caterers using our platform as a takeaway solution

- 190+ events covered in 2020 (below 500 daily capacity due to COVID)

2021 Events Schedule:

- Secured 25+ outdoor events for 2021 (between 1k-25k daily capacity). These include music festivals, air shows, dog shows, comedy shows, prom/concert, bike shows and tradeshows.

- Tradeshows include Farnborough Events Show, where up to 4k attendees from the events industry will trial and test the NOQ ordering solution.

- Continued presence within the smaller events segment such as drive-in cinemas, outdoor popup cinemas, outdoor dining, food markets & much more.

Our USP:

- Marketplace app focused on maximising services for events.

- Operational risk minimised through effective vendor management and WiFi connectivity solutions.

- Operate day-to-day takeaway solution for food concessions/event caterers to drive adoption of the product, leading to increased event opportunities.

Monetisation strategy

- All customers who place food & beverage (F&B) and merchandising orders via the NOQ app at events will be subject to a service fee per transaction.

- Day-to-day event caterers use our app as a takeaway solution. Customers pay a service fee per transaction.

- Partnership with POS provider leads to revenue shares from all in-person sales made through cashless payments.

- We are building a space for in-app advertising within events allowing sponsors to showcase their brand to customers at the event.

- We believe promotions and adverts in the marketplace will lead to ticket sales ahead of events.

- NOQ will introduce preferred WiFi and Food Concessions lead to revenue kick backs as we introduce them to events we operate in.

- We believe additional services such as ticketing and data insights will enhance our monetisation strategy.

- After scaling in the UK, we will look to expand across other geographic locations and licensing our capabilities.

Use of proceeds

We believe we currently have a first-mover advantage. Therefore, funding will allow us to expand our domestic position and to accelerate organic growth.

Staff:

- We are expanding our team with top talent from the event sector growing our sales and marketing team

Product Development:

- Scaling our product team capacity in order to drive innovation and delivering an exciting roadmap

Marketing:

- Our presence and recognition in the industry will drive our success. We aim to attend key exhibitions, webinars, tech panels and create in-event advertising to drive adoption

OpEx:

- Maintain and expand our IT infrastructure and subscriptions

- Office rent in London, allowing the team to work together and strive for success (once feasibility allows)

- F&G to sustain compliance and smooth operations

We concluded a family & friends investment round in February 2021, which was initiated in November 2020. The price per share issued was £0.26 per share. These investors were early contributors of the business, supporting NOQ during the lockdown restrictions. This campaign is priced at £0.29 per share.