Decentralized professional network
23223

Decentralized professional network

USA, California
Market: Internet and IT, Blockchain, Crypto currency, Artificial Intelligence
Stage of the project: Prototype or product is ready

Date of last change: 11/23/2017
Min investment
$ 25.000
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$ 500.000
Rating
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Idea
Aura is a decentralized, end-to-end employment network with a mission to match the world’s best talent with the right career opportunities to create synergistic workplaces within the technology industry. Aura enables professional profile building, professional development tools, worker-to-business matching, hiring, and performance review. Aura Tokens (AURA) enable individuals to upgrade their profiles, and enable companies to hire the best matching talent.
Current Status
MVP is ready for testing, building blockchain part.
Market
Aura will be launched with a focus on the still maturing cryptocurrency industry which is both globalized and localized across 38 countries and 5 world regions, has borderless exchange operations, and geographically clustered mining activities. The industry, comprised of over 100 businesses (including exchanges, wallets, payment service providers, and miners) employs over 2,000 full-time workers. The number of unique active users of crypto wallets is estimated to be between 2.9 million and 5.8 million.

Ultimately, the platform will be a resource for all workers and employers across the tech industry, with an estimated addressable market of more than 6.7 million IT sector employees, and more than 384,000 IT industry businesses in the US alone. The platform will be accessible by desktop and mobile devices.
Problem or Opportunity
Today’s work ecosystem has changed dramatically from what it once was, and leaders must adjust to the new frontier. Driven by the expansion of connectivity and digitization of work, the workforce is now global and multicultural. The surge of on-demand labor platforms, online work management solutions and collaborative platforms is fueling the multi-national freelance workforce and the gig economy. Staffing models have changed significantly shifting away from full-time balance sheet employees, to include not only contract and open source talent, but also AI powered intelligent Bots. Legacy recruitment and hiring practices, dependent on job descriptions, hard skills and physical location, are becoming less relevant, and internal hierarchies are being replaced by horizontal team-based decision making and shared work.

Despite the new work ecosystem, challenges exist. Staffing and networking platforms don’t account for workers’ soft skills and cultural identity, workers’ professional lifecycles aren’t accurately captured, performance reviews are misdirected, there are missed opportunities for reward and growth, and payment processes to freelancers and international workers lags.
Solution (product or service)
Aura solves the problems facing the HR ecosystem with a network that develops verified, lifelong professional profiles; aligns talent to organizations based on compatibility criteria; provides workers with on-time payments through smart contracts; and enables dynamic performance reviews- resulting in an empowered and transparent workplace for both workers and employers.


How does AURA work?

The Aura platform includes 4 main components:

Aura Crystals (Units of professional network)

Aura Crystals are professional profiles developed across the lifetime powered by AI and saved on blockchain, representing unique persona and experiences of an individual or a company.

AVA AI - (Data analysis & matching)

AVA is Aura’s unique Bot that evaluates and analyzes public profiles and resumes, and interacts with individuals and companies through video interviews to build Aura Crystals.

Aura Contracts and P2P Recognition

Aura leverages smart contracts to validate completion of work and trigger payments to workers. It also offers peer-to-peer recognition tools allowing peers to evaluate skills used in each transaction, building workers’ “Aura Crystal” reputation.

Aura Coins

Aura Coins are limited utility tokens that allow users to unlock pro-features of Aura Crystals, such as job matching and digital professional development tools.
Competitors
linkedin.com
hired.com
upwork.com
Advantages or differentiators
+ Aura is using blockchain for a rating system and transparent profiles of companies and professionals.
+ Match between company and employee happens through AI that matches hard and soft skills to create not just a professional but also cultural fit
+ Aura is using AI to pre-screen candidates no more long list of resumes.
+ Aura is focused on a blockchain niche that has it's own specifics
Finance
Aura is breaking down the price of hiring an employee from $30K avg to $3K using Aura platform.
With a growing number of posted blockchain open positions from 20 per day in Sep 2017, Aura is targeting the market of $1.2M in revenue per month just from fee per closed position.
Invested in previous rounds, $
Business model
PRO-profiles for the candidates
PRO-profiles for the companies
Advertisment
% per transaction when using Aura smart contracts during hiring
Money will be spent on
45% Platform Development & Operations
20% AI & ML User Profiling
15% Marketing & Business Development
10% Psychological Matching Research
5% Legal
5% Acquisitions
Offer for investor
We are launching ICO on Jan 20th and giving discounts for strategic early stage pre-sale investors. 30-50% discount based on a check size.
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
AVA AI was partner of 500 startups batch #21-22
Won the competition and other awards
ThansTech 200, 2017
Ava AI became one of the transforming workplace companies.
Invention/Patent
Ava AI is a revilutionazing way of asessment and matching of employee and company.
Videos
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Videos
 
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