Native Consulting
Native Spaces is an online marketplace where anyone can easily organise an event in a unique space, and where property owners can monetise their vacant space.
Private events is a $150bn market, still fragmented and offline but on the verge of transformation. We aim to make this market more efficient and accessible by using technology.
THE COMPANY
Vision and Mission
Our mission is to make it easy for people to gather, create and have fun. Our vision is to be the place where people come to organise extraordinary events anywhere in the world.
The Problem
Today organising an event is complex, time-consuming and expensive. It requires hours of browsing and calling. Pricing is not transparent and unique spaces are hard to find and access.
Property owners need to utilise their spaces when unused and invest time and money to attract clients.
Our Solution
On Native Spaces, like an Airbnb for events, one can quickly find given specific event criteria (capacity, location, equipment) a unique space for their event (a private villa, a rooftop, a boat), securely book and pay for it. On the other side, property owners are able to monetise their vacant space without any administrative hassle. They have access to reservation and transaction management tools, contracts and specialised insurance.
How Does It Work
On the website an organiser (professional or private) can search for, find, book and pay for a unique space and any additional services they need for their event (catering, entertainment, organisation). A provider of a space or service can receive requests, communicate with clients, create event quotes in a few clicks, get paid, get feedback, as well as get their space insured specifically for booked events.
Why Invest in Us
- Working solution, already tested: 300+ spaces, paying customers
- Ambitious team with the required mix of skills
- Attractive valuation
- Opportunity to quickly grab market share while the industry is "on pause"
- Business model that is appropriate for the new post Covid reality in events
THE BUSINESS
Business Model
We take a commission on each transaction. Apart from spaces we are developing event and property management value-added services on which we also make a commission. Our target average transaction size (space + services) is 20,000 EUR.
Value Proposition
- Substantial reduction in the time and cost to organise a private event
- Secure access to unique spaces
- Additional revenue for property owners without administrative burden
Patents
Software IP Copyright
Competition
In Europe, there are no similar platforms providing private properties for events and targeting an international client base. However, there are already platforms providing access to commercial event spaces. In the US, our main competitor is Peer Space. The market is still fragmented with no major competitors operating across borders.
How are we different?
First, our tech and specialised insurance allow us to monetise private properties via events and provide organisers with access to truly unique spaces.
Second, we are the only such platform which is “international first” with tech built to operate in multiple languages from the start – our client base is international, such as corporate clients organising commercial side events to congresses in “local” markets (currently the South of France, but soon Lisbon/ Barcelona/Geneva).
Third, we are building the first of its kind “digital event planner” using AI-algorithms to make events organisation 100x faster and accessible to non-professionals.
Market Potential
The private events market is disintegrated, in-transparent and still largely offline with hidden costs across the value chain from planning to time consuming searches for suppliers. It is however important ($150bn), rapidly growing (>12% pa), and on the brink of transformation. This transformation is accelerated by the current pandemic.
Our initial target market includes medium sized private events in Europe ($12bn ) and we plan to be present in all main international event hubs within 5 years.
THE MARKET SOLUTION
Go to Market Plans
Even though we receive space registrations from all over the world, our main space base currently is in the South of France (The French Riviera + Provence + Monaco and the Italian Riviera). Our plan is to be present in all main European international event and congress hubs within the next 3 years and go global thereafter.
For example, in the city of Cannes alone there are more than 50 congresses per year attracting 300 000 guests. Around each congress there are hundreds of sales side events with average budgets of 50,000 euros/event. And there are hundreds of such important conference destinations in Europe (Cannes is not in top 25). We are not limited to “corporate events” and also host local and destination private parties and weddings.
We were international from the very creation and our clients are international. Technically and operationally, there is nothing stopping us from going global “tomorrow”. In fact, the plan is to prioritise and enter two more international event hubs this year.
THE TEAM
Tanya Bencheva-Vigier, the founder and CEO, is an ex-Strategy consultant from PwC/Strategy& London. She knows how to mobilise teams, manage projects, solve complex problems and deliver results.
James Buckland, the CTO, has 15 years of software development experience, a degree in AI, and has already built a tech venture.
Danielle Wing, the events expert, who will join us full time after the fundraise, has 10+ years experience in international events organisation.
