Startup Spotlight is an ongoing series that profiles Canadian wireless and mobile technology startups.
This month, we spoke with Hassan Jaferi, CEO of Bitnobi. The company is committed to helping organizations manage and share big data through their innovative platform.
How it Started
Bitnobi began at York University in Toronto, where a research team was working on a solution to help better manage Big Data. The technology progressed from the research lab, through to Innovation York with MaRS Innovation and Wavefront’s Venture Acceleration Program where it evolved into a viable business offering. Bitnobi was launched in March 2016, and officially debuted at the Wavefront Summit this past May.
Impact on Big Data
Bitnobi provides software that enables data providers to share privacy protected access to data without having to transfer or copy raw data to the end user. Their innovative technology works with any type of data, integrating with many types of big data systems.
A large bank or hospital often has many different systems and databases that require data sharing. Bitnobi is designed to work with the many systems involved and communicate select data to the right audience in a secure way.
Some key challenges in managing Big Data include the inefficiency and long approval times that can occur when sharing sensitive data between multiple parties. Bitnobi’s software works to offer custom workflows that provide a more seamless exchange between all systems.
With Big Data playing an increasing across all industries, the need for robust data sharing solutions continues to grow.
We’ve found there’s strong interest from all industry sectors, including retail, telecom, government, medical and financial services; there is a clear desire for better solutions to share data as a critical part of an organization’s competitive strategy.
For example, hospitals may need to share select portions of patient medical records to researchers, treatment practitioners or family members. Big banks need to communicate with third party analysts, customers and shareholders. Companies must continue to invest in the data marketplace to retain their competitive advantage.
Journey of Growth
Bitnobi participated in Wavefront’s Venture Acceleration Program in 2015 where they clarified their business offering to be ready for the market. Hassan attributes the learnings and structure of the program to be key elements in starting in the market on the right track.
The program forced us to get our pitch down pat and really crystallized the right next steps to move forward.
Bitnobi attended the Wavefront Summit in Toronto this past May where they publicly launched and garnered a people’s choice award for best pitch during the Pitch Competition.
When asked what advice he would give to other entrepreneurs looking to grow a company, Hassan stressed the importance of being persistent in all things.
Never stop pitching, never stop selling, have an excellent team around you. If you can accomplish those items, I’m positive you’ll get the traction you’re looking for.