WorldLabs

Idea

Introduction

WorldLabs is a digital global innovation platform that helps fast-track the development of innovative ideas.

Billions of pounds are invested each year in Europe alone to support innovation and drive economic growth. Yet, funding, resources, collaborators and support are still fragmented and hard to reach.

WorldLabs aims to change that. We streamline how people engage with funding and collaboration opportunities by bringing together innovators and organisations - within academic, public and private sectors - in an ecosystem that fosters innovation.

Since our launch in mid-2018, thousands of innovators around the globe have already joined WorldLabs to apply for hundreds of thousands of pounds in funding contests and to connect with other like-minded changemakers.

We have already established partnerships with leading organisations around the world, such as Cambridge University, UCL, VCs, incubators and more.

Intended impact

Innovation is essential for the success of any organisation.

More organisations, such as corporates, universities, funding bodies and incubators, are using new strategies to innovate, stay competitive and grow. These involve sharing knowledge both internally and with other institutions. Through market research, we have seen that organisations supporting innovators want to be more connected to one another and their members.

We believe WorldLabs is in the right place at the right time. We capitalise on this market need by providing a digital platform that helps foster innovation on a global scale.

WorldLabs provides a unified ecosystem where innovators can connect to thousands of ventures, raise visibility for their initiative, and easily discover and apply for funding and collaboration opportunities matched to them.

At the same time, organisations can engage and manage their members, streamline contest management and tap into a global community of innovators. All in one place.

Substantial accomplishments to date

Q2 2017 - Q2 2018:
• Conducted market research and built the first software prototype.
• Completed seed round raising nearly £0.5 million.
• Entrepreneur and Cambridge University Professor Daping Chu joined the advisory board.
• Built a passionate team with a wealth of experience from other startups and large organisations (Nestle, Argos, Amazon, Disney, Virgin Media).

Q3 2018:
• Launched WorldLabs to the public.
• Featured in The Times, Business Weekly and interviewed on the radio.
• Partnered with Cambridge Consulting Network and launched their innovation competitions.
• Dr David Brown, co-inventor of Viagra, joined the advisory board.
• Cambridge Engineering Department hosted their funding contests on the platform.
• Reached 2,000+ users and 200+ live projects in less than 3 months.

Q4 2018:
• Launched private beta programme for new B2B features.
• Signed partnerships with Cambridge University Judge Business School.
• Partnered with UCL Innovation & Enterprise and Lime HK.
• Reached almost 7,000 users and 1,000+ live projects.
• Co-inventor of Viagra to launch Sepsis Challenge to crowdsource new treatments for sepsis.
• Launched the Elevating Ideas 2018 Conference (www.worldlabs.org/Ei18), attended by 500+ investors and entrepreneurs and supported by high-profile industry leaders, venture capitalists, million-pound startup founders and large organisations.
• Initiated partnership talks with leading organisations with 100,000s of members, such as the UK Catapults, the University of Wisconsin (USA) and more.

Monetisation strategy

WorldLabs offers multiple B2B and B2C revenue streams (www.worldlabs.org/pricing) targeted at organisations (public and private institutions, such as universities, incubators and accelerators) and users (entrepreneurs and innovators at our B2B organisations and beyond).

• Community Management (B2B - monthly subscription, www.worldlabs.org/community): Organisations can use a highly customisable software platform to build, manage and engage their community of innovators.
• Contest Management (B2B - initial fee plus monthly subscription, www.worldlabs.org/contest): Organisations can use integrated tools to simplify contest management and tap into our global community of innovators.
• Marketplace (B2B & B2C - fee per ad, www.worldlabs.org/marketplace): Users can post ads for what they are offering and looking for: talent, services, products or funding opportunities.

Other revenue opportunities we will launch include Boost (B2B & B2C - fee per ad), to let users create highly targeted ads, and commission-based services, to connect service providers, such as investors, lawyers and consultants, to innovators on WorldLabs.

Use of proceeds

This funding round will help accelerate our growth to make WorldLabs the go-to platform for innovators and organisations serving innovators worldwide.

The major focus areas covered with the proceeds raised are:

• Team: we will hire key management roles to support increased acquisitions and to help fuel sales to expand into more universities and institutions worldwide.
• Product Development: we will build a mobile app and new sophisticated features that will help streamline the innovation process and include machine learning.
• Marketing and Brand Identity: we will support our growth by boosting targeted marketing campaigns, and by engaging influencers to empower more innovators.

Our pledge:
Our commitment to all of our investors is to produce regular updates, manage our cash flow conscientiously, stay lean, always be transparent, and continue to make a positive impact on the world by breaking down barriers to societal and technological advancement.

Notices

Please note, WorldLabs currently has an outstanding directors loan for £71,694.48. This loan is interest-free and will only be repaid once the company is profitable.