New tech startup for entrepreneurs 'MAGNiTT' launched by putitout

In an age where digital businesses are the talk of the town putitout are launching their second start up in as many months. Last month we had Secret Sessions. This month we have MAGNiTT.

After 8 months of scoping, design, development, QA and iteration MAGNiTT, a brand new online tech start up, will launch on June 15th.

MAGNiTT is a brand new mobile first website which matches entrepreneurs and investors.

Philip Bahoshy is the entrepreneur behind the company first came up with the idea a couple of years ago when he was studying for an MBA at INSEAD (which is based in Paris and Singapore). “Speaking to fellow Entrepreneurs during my MBA, 3 challenges resonated 1) Is an idea any good? 2) How do I get help and support 3) How do I get an idea funded? MAGNiTT looks to help connect Entrepreneurs with Strategic Investors, people who help them realize their startup ambition, whether it is through capital or time. MAGNiTT’s focus is on connecting people through a streamlined and mobile platform to help facilitate the process, allowing Investors to pick the ideas they are interested in.”

The platform will launch to MBA students in the first instance with plans to expand once the core user base is created, and optimised. “Post launch MAGNiTT will look to develop its user base aggressively. Based on user feedback we will look to enhance the platform, starting with the creation of an Application, and broaden the audience beyond MBA Entrepreneurs and Incubators. The aim is for MAGNiTT to become the go-to tool for aspiring Entrepreneurs to pitch their ideas to Strategic Investors for support and guidance.”

Investors will have the opportunity to scroll through elevator pitches and deep dive into the ideas they like. If they like ideas they can review them, in order to show their interest. Entrepreneurs looking for funding will pay a small fee for access to the investors who like their ideas. They can then choose to continue the conversation, if initial communications are positive.

On working with putitout Philip said:

“PIO have been great in helping define and design the process from concept to development. As a non-tech founder, PIO provided valuable advice throughout the process with a great and enthusiastic team. Through their experience they were able to challenge my basic concepts and help define the product to meet the changing and challenging technological landscape which helped make MAGNiTT a better product.”

If you want to know any more about MAGNiTT get in touch.

3rd June 2015

Posted by Joe