Paypal addressed inefficiency in payment transaction costs Robinhood (and now Merrill, Goldman, etc.) addressed inefficiency in publicly traded securities’ transaction costs
The Coffeehouse Exchange aims to address inefficiencies in venture capital raising (focusing especially on micro-ventures) We believe that, just as we can “hack” innovative solutions, small local (often overlooked) entrepreneurs also “hack” together innovative solutions in their respective industries
What it does
Coffeehouse Exchange connects entrepreneurs with investors, big and small, in order to reduce the overhead costs associated with accumulating capital for entrepreneur ventures. Then, in addition to vetting the investors and the entrepreneurs, the site also assigns a weight to each entrepreneur/investor which assesses their credibility, in order to facilitate trust between these entities.
How we built it
Challenges we ran into
Due to time constraints, we were not able to query all data from our java intermediary platform to our front end. We were able, however, to query the data between the SQL database and the java platform, so we were able to calculate trustworthiness and innovative ability proxies for our models. Our front end has also taken form, so the only thing we are missing is the display of SQL database information onto our front end.
Accomplishments that we're proud of
We are very proud of our efficient backend database, our ranking algorithms/analytics (with strong arguments of why they should proxy the variables we want), and our frontend (built from scratch). Furthermore, we are also very proud of our modular approach towards building this project (dividing the project into three layers - database, data treatment, and data display). Finally, we are proud of our idea, given that we foresee it solving fundamental inefficiencies in marketplace structure and innovation - we can truly connect great ideas with resources using our individual investor vetting strategies.
What we learned
We learned a significant amount on implementation, modular design, web development, fin tech, and security. It was honestly a eye opener to work on a real project within this time frame.
What's next for Coffeehouse Exchange
We hope to fully integrate our data display on our frontend, and release our MVP as soon as possible. We then hope to refine our ranking algorithms further, and give rigorous proof on why they proxy well for the variables we wish to observe. Furthermore, we want to develop a network of users that will truly benefit from the removal of barriers to venture capital and idea exchange.