Thursday, February 9, 2012

What Will SEIN Analytics Do with $100,000 Gigabit Challenge Prize?

Since SEIN Analytics & Asset Management walked away with the $100,000 Grand Prize at The Gigabit Challenge Finale earlier this year, the Brooklyn-based startup has begun developing plans for 2012 that include hiring, creating deals, marketing and formulating new business structures.

Think Big Partners’ Gigabit Challenge was a global business plan competition looking for new applications to disrupt technology on the Google Fiber Network.  Prizes at the awards ceremony on January 18, 2012, included the $100,000 Grand Prize, which was awarded to SEIN Analytics & Asset Management, the People’s Choice Award, and a $250,000 Born Global Prize.

“I launched our prototype and turned my attention to getting feedback from others,” said Samuel Belu-John, CEO and Founder of SEIN Analytics.  “I looked for places to present our idea to.  I signed up for iStart and saw The Gigabit Challenge. There was a natural fit to what Google Fiber could do and what we were doing.”

SEIN Analytics & Asset Management is a new venture founded by a structured finance veteran and a team of dedicated designers, strategists and programmers. SEIN develops a data-centric cloud application for analyzing and managing asset-backed securities (ABS). The software standardizes loan level data and displays it in an easy to use form that financial institutions and investors can use to track and analyze ABS investments.

In a recent Silicon Prairie News article, Chris Bernard, startup specialist at Microsoft and Gigabit Challenge judge, commented that “ other company did as good a job of showing how the cloud and fiber could help businesses solve big data problems that were previously the providence of big data centers and deep pocketed customers.”

“When we were watching other presenters [during The Gigabit Challenge], we felt as if our numbers were too small,” said Suk-Hyon Paek, COO of SEIN Analytics.  “But the truth of the matter is, our numbers were realistic.  We were very down-to-earth about our idea.  Everything we presented was based on reality.”

With the $100,000 Grand Prize under their belts, the SEIN Analytics team plans on putting every penny from The Gigabit Challenge into launching their business.  In 2012, Belu-John hopes to hire more developers to assist him in flushing out SEIN.  The rest of the SEIN Analytics team plans to handle the future of the company by focusing on building strategic alliances with potential partners, increasing the deal database, refining the existing pricing models, developing a staffing plan, and creating marketing and sales initiatives. 

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