Singapore – November 2018: Arcadier Inspire, the world’s first virtual summit and competition for online marketplaces, drew to a close last Wednesday, with the grand prize winner walking away with one million IHG points. That is enough to spend 2 weeks at the InterContinental Hotel in Times Square, New York, a month at Hotel Indigo in Bali, or a roundtrip flight from LA to Singapore on business class!
Stretching from April to September, the event comprised of two tracks: the Inspire Competition which saw entrepreneurs battling to build the best marketplace, and the Inspire Summit where experts across various industries shared their knowledge on enabling and scaling a marketplace.
Over the 6 months, 40 industry experts spoke in-depth on a variety of topics on the virtual Inspire Summit stage; ranging from product market fit, cash flow and P&L, to artificial intelligence, and even sharing personal business experiences. Users were able to watch all videos entirely free-of-charge on the Arcadier’s YouTube channel. Among the list of speakers were Sara Green Brodersen of Deemly, Rupa Ganatra of FUTR Group, and Greg Nance of Dyad.com. Focusing on their own domain expertise, each speaker shared valuable advice and insights from their years of experience to building and scaling a business, and specifically a marketplace.
The Inspire Competition, which ran concurrently with the Summit, attracted over 1,200 participants across 55 countries, with a wide spectrum of business ideas all attempting to build their marketplace using Arcadier’s template solutions. Ideas ranged from a marketplace attempting to promote local art in Morocco, to another looking to lease out farm land in Greece.
To determine the competition winners, marketplaces were assessed based on the following criteria:
- Highest sales volume
- Highest number of transactions
- Highest number of unique buyers
- Best use of Arcadier's technology
Each component was weighted, with the marketplace accumulating the highest overall score emerging as the grand prize winner and winning 1 million IHG points. In addition to the grand prize winner, there were 3 category winners and 1 fan favourite winner. Category winners were judged by the same criteria but separated by marketplace type: retail, rental and services. The Fan Favourite winner was chosen by the public. A group of shortlisted marketplaces was curated by the Arcadier team, and the marketplace with the highest number of votes after one month was declared the winner. All four winners were able to walk away with a 50,000 Wyndham Hotel reward points each among a litany of other prizes.
After a gruelling 6-months of hard work and dedication, Arcadier is proud to announce Inspire’s five competition winners:
Fan Favourite Winner: Simply Surfers
SimplySurfers is a Luxembourg-based marketplace which strives to help all passionate surfers in the ultimate quest of surfing the perfect wave. Through its platform, surfers are able to find coaches, guides, boards and exclusive accommodations wherever there are waves in the world.
Best Rental Marketplace Winner: Spacehuntr
Spacehuntr is a Belgium-based marketplace which strives to become the reference platform to find the most unique spaces across Belgium. Via its platform, you will be able to find and book the most unique spaces to conduct meetings and events.
Best Retail Marketplace Winner: Upmrkt
Upmrkt is a Singapore-based marketplace which seeks to give people better access to the amazing mix of independent brands from across urban Southeast Asia. The platform serves as a destination full of high-quality independent entrepreneurs, built by entrepreneurs.
Best Services Marketplace Winner: Succesfuly
Successfuly marketplace is a US-based entrepreneurial space for inspiring and successful professionals. Through the platform, these individuals are able to connect with and benefit from the experience and services of other inspiring entrepreneurs.
Grand Prize Winner: The Online Hab Bazaar
The Online Hab Bazaar is a US-based marketplace which seeks to bring together a global but uncentralized social and running community – those that deal in Haberdashery. Through its platform, each club is able to purchase and resell various haberdashery (or “hab” for short).
Arcadier extends a hearty congratulations to all the winners, and would like to thank all the participants and speakers for their enthusiastic response to this event. Till next time, be inspired!