Swogo, a free online service which aims to help consumers find the best product for their needs, has won the NACUE Varsity Pitch Competition, beating out 100 other applicants.
November 19, 2012 (Newswire) - Swogo.com, which will launch at the end of November as a service which recommends laptops in the UK, has won the Varsity Pitch Competition. They beat 20 entrants to place top of the Software, Internet and Mobile Technology category, taking them into the final.
On November 15th, two of Swogo's co-founders, Anthony Ng Monica and Lucy Foster, pitched before five seasoned judges and an audience of 120 people, in order to win the NACUE Varsity Pitch Competition. They gave a two minute pitch, explaining why they believe Swogo is the most innovative, scalable, and financially viable business in the final. They then took seven minutes of questions from the judges, who were experienced enterprise professionals. The judges were: Dale Murray, an entrepreneur and angel investor, James Hurley, the Enterprise Editor at the Telegraph, Joe Cohen, the founder and CEO of Seatwave, Shannon Harvey, the Business Excellence Manager of the Taj Hotels, and Nigel Holland, the Regional President EMEA for TATA Global Beverages.
Swogo were honoured to have been chosen by such seasoned business minds to win the Varsity Pitch Competition, claiming a prize of £10,000, as well as a great deal of advice and assistance from the NACUE team and their sponsors.
This money will go towards Swogo's continued development, allowing them to expand into providing other recommendations, and invest into their online marketing strategy, so that they can begin reaching a wide audience.
"For us, this money isn't simply a quick-fix solution to an immediate problem," Lucy Foster, co-founder of Swogo, says. "We want to invest it into streams that will allow us to scale, as well as see a return, so that we can then re-invest more capital back into our business."
Swogo is set to launch in the UK by the end of November as a free-to-use recommendation service for laptops. Their vision is to help anyone make a purchase decision like an expert, on the web or on the go, in just 60 seconds. The user simply has to answer a short series of easy-to-understand questions about their desired laptop, which allows Swogo's unique algorithm to determine their individual needs. Based on this information, Swogo will recommend the best product for their requirements and desires. Shortly after launch, Swogo will enter the US. They will then begin recommending other types of consumer electronics, before expanding into different product markets.
Everyday consumers are faced with complex decisions about products and services, be it shopping for consumer electronics, buying a new car, or even booking a holiday. Making the best purchase decision not only requires expert knowledge, but also a considerable amount of time and research.
Swogo has found that 77% of consumers are overwhelmed by technical jargon. Even buyers who have expert knowledge often struggle to keep up with the rapid movement of the consumer electronics industry, and can still spend much time researching reviews, specifications, prices, and opinions across several sources. Swogo found that it takes the average person three weeks to buy a laptop. Swogo aims to bring this time down to less than 60 seconds.
No longer will users have to search around online to find the best product for their needs. By answering a few simple questions, Swogo is able to generate the best product for their requirements instantly. Swogo aims to make it as easy as talking to an expert in store.
"We wanted to make the whole experience painless," says Anthony Ng Monica, Co-Founder and CEO of Swogo.
Swogo is led by CEO, Anthony Ng Monica, who is a co-founder alongside Dimitar Kazakov (CTO), Ivor Stankov (CMO), Lucy Foster (Head of Content and PR), and Andre Rego (Head of Business Development). Swogo has raised crowdfunded investment through Seedrs.
You can follow Swogo on their Twitter (@GoSwogo) and Facebook account (http://www.facebook.com/swogo), or sign up for early access to Swogo's service at www.swogo.com.
PR and Media Contact: Lucy Foster
Tel: (+44) 7961 612 806
CEO: Anthony Ng Monica
Tel: (+44) 7507 665 412
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