Eco Check

Key Insights

• Pivoting
  • continuously improving idea → The Lean Startup
• Testing
  • assumptions of market and customers are met
• Team
  • make sure you are working with the right people

Questions

• European Sustainability Reporting Standards

Funding for Hult Prize?

• funded by university to go onto the trip for Kenia

Search Engine

• search bar allows to filter more granularly than “gray hoodie”
• currently just brands as a whole but planned for individual products
• Data from Sustainability Report mandatory in EU
  • some quantitative and some qualitative data
    • translating words to numbers

How do you handle no-name garments

• only possible with firms (sustainability report)
• most no-name garments can be traced back to a firm

Protection against Idea Theft

• no protection
• only protection would be patent
  • patent only possible with finished product
• most large companies are more interested in acquiring projects instead of re-researching it themselves

Why App and not Browser Plugin like Honey?

• cannot start with it
• app is easier, shows value better

Incentives to be more Sustainable with clothing

• focus lies on core service currently
• more features aftewards

How to contact investors

• investors from USA
  • University Funds
  • Venture Capital Funds
• other investors too
• get contacts rather than money
  • advice is often more valuable than money

What sets you apart from competition

• ESRS is not yet published
  • exact similarity is not yet posible

How to incentive people not caring about sustainability

• there is no direct incentive
• other reasons to install the app and then be passively see sustainability

How to deal with race conditions with competitors

• copy/pasting happens

  imitation is the highest form of flattery

• get legal advice from a professional, not a friend
  • many large law firm have good deals for startups (customer loyalty)
• partnering up with competition might be better than fighting about it

Is there a max score?

• scores are relative to one another

How do you call “shares” of a company which does not have shares yet

• Phantom Shares

How can I trust your information?

• ESRS is publicly available

Legal Structure

• no incorporation yet
• no GmbH or anything else

Open sourcing the source code?

• too easy to copy

ESRS are company wide, how to break it down to individual products?

• not something we thought about
• discrepancies in qualitative data evaluation should be transparent
• entrepreneurial risk → what if → Security

Is second hand more sustainable

• yes, anything that is reused is more sustainable

My Thoughts

• how can I trust you and keep trusting you for years to come
  • can you prove you are not being payed by the companies for better scores
• advertisements
  • how are non-intrusive ads possible?
• only affiliate/referral income? no pro subscriptions?
  • more sustainable alternatives
  • style recommendations
  • discount codes with affiliates
  • price comparison