After 8 excellent presentations and a lot of deliberation, Startup 2011 had its first-ever four way tie. The tie was broken by the venture capitalists writing the winner’s check, General Catalyst, and they selected Quartzy as this year’s winner.
Quartzy is an online inventory management software for life-scientists.
“A lot of the other companies had great technology and great teams, but their businesses had more visible constraints,” says Jonathan Teo, Managing Director of General Cataylst Partners. Teo noted, however, that ShinyAds and UberTags were close runners-up.
That’s not to say that Quartzy isn’t without faults. “For Quartzy, there are business issues and we all acknowledged that on stage,” says Teo. “At the same time, it is focusing on a highly monetizable, untapped market. It has a chance to become a breakout business if it nails its platform.”
For now, Teo thinks Quartzy should stay focused on its life-scientist audience. Eventually, he could see it expanding its community and becoming ubiquitous.
“We’re so happy to win, and we don’t mind the four-way tie because the other businesses were excellent,” says Quartzy’s founder Jayant Kulkarni. He says Quartzy will use the prize money to hire a business development person.
Quartzy was founded in 2009 and is used by 4,000 life-scientists; more than 40% have logged into the site more than 50 times.