Redding, California, native and Hebrew University master’s student Elyssa King is 24, and she has a big idea. Actually, her idea is more than an idea– it’s a way to harness everyone’s big ideas with a business called Seed. She went to Inspiraction’s Builders event in March to take her idea to the next level.
“Seed is my idea for an incubator for capturing companies before they go to market,” King explains. “Before there is a prototype or a business plan. I want to help the person with a napkin in his pocket and an idea in mind to help him see if it is worth doing.”
The student with a background in business describes her future enterprise as a “polymarket for ideas,” allowing others to vote on ideas and say yes or no in a public space.
Liam Ratner, the founder of Inspiraction, is a product of homeschooling. He developed AI projects and algorithms for trading futures while still in high school. Before he made aliyah at age 14, he had completed high school curricula on his own.
He created the Jerusalem-based not-for-profit and the Builders event for people like King. Ratner, a 21-year-old investor and inventor himself, is also in the process of founding a defense-tech start-up, but the multi-talented wunderkind is devoted to harnessing the creativity of Israel’s youth, bringing new ideas to market, and helping Israel grow.
The Jerusalem hi-tech scene is constantly growing, with hundreds from the local ecosystem attending community events. (credit: Troy O. Fritzhand)
“Our goal is to create a community of builders and creators,” explains Ratner, who sponsored the event, which featured sushi and feedback from mentors in midtown Jerusalem on April 16.
Inspiraction is designed to help people ages 18 to 30 who are inventors or builders. The event program offered pitch opportunities, investors, and mentors, and a special app that enabled the experts to give feedback to the builders.
One of the mentors at the event, Margarita Lapidus, a seasoned marketing strategy and brand growth leader for the Canadian toy and entertainment company Spin Master, was duly impressed by the young entrepreneurs.
‘Incredible diversity of ideas’
“What I loved most was the incredible diversity of ideas,” she says. “[Ranging] from digital and tech products like apps, an online real estate broker in Latin America, to beautifully human concepts like a signature homemade broth, special food tours offering cultural and historical immersion through flavors of local neighborhoods, or a one-of-a-kind cookie designed to connect people because you have to share it – since you simply can’t eat it alone.”
Ratner is busy putting together teams of mentors, funders, and inventors for future events.
“Our next event is going to be [the] Thinkers One Night Think Tank,” he says. “So far, we have entertained some really cool platform ideas, and I look forward to working with more. Twenty men and women attended the Builders event with businesses in various stages of development. Some were just ideas, others in incubation, some were seeking investors, and a few already had customers. The business models were from various sectors, such as tech, real estate, the food industry, healthcare, nonprofits, and influencer advocacy movements.”
Each presenter was invited to pitch his or business, while others used the Feedback App to share their thoughts and critiques.
Aryeh Lev, a 21-year-old son of immigrants, brought his idea of a new real estate app, especially for olim, particularly English-speaking ones. Anticipating an influx of new Israelis due to political and security situations worldwide, he is committed to making the process of finding a home here more kinetic.
“I’ve developed a system to intake potential buyers and expose them to a curated short list of properties that suit their needs,” he says. “My parents are currently renting, which gave me the idea.
“On the other end, we work with sellers and brokers,” he explains. “The business makes money on the buyer’s commission. Our software platform creates compatibility scores. We have developed a hybrid model.
“The app lets you find your home quickly,” he continues. “We are the [real estate agent]; we split commission with the [agents] and receive compensation for referrals to mortgage brokers, foreign currency platforms, and other related services. The program creates a unique profile based on your request, and compatibility scores will reflect by number how the property matches up or doesn’t to the person’s needs.”
So far, Lev has created a network of brokers and real estate agents and is working on a domain. He was extremely excited about the Builders event.
“Builders gave me the inspiration to put together the idea to defragment the Israeli real estate market. I am sure that the right business model can make money in the Israeli market. My mentor feedback was positive, and I received constructive critiques on the online platform,” he says. “I also met with investors who were interested. The experience of going up and pitching, using a deck, was very helpful.”
Lev hopes to have his business launched by the end of the year. He is also working on a new Israeli For Sale By Owner platform in English, Hebrew, Russian, Spanish, and French.
Meanwhile, King is still in conversation with connections she met at the event.
“They said my presentation went well and asked great questions in the feedback about logistics, particularly about gamifying it – creating some buzz.”
She is hoping to start up her business before the year’s end.
The next event, Thinkers, will feature a 10-second pitch session, and focus groups that will help thinkers take their concept from idea stage to game plan to action. Along with other Inspiractors, participants will leave the event with a team of others to build their businesses.
“Seeing these young people buzzing with ideas is a powerful reminder that our country’s future is in good hands,” Lapidus says.
Inspiraction is planning to host a speed-networking event in Jerusalem on June 4 for builders, thinkers, and creators.