A major project in this field was development, founding and leading an international startup company that developed a Web application that was intended primarily for small and medium businesses empowering businesses with financial understanding without any economic background, using a credit rating methodology.
The solution included legal creativity in a highly regulated field, along with economic creativity that allowed for a unique technological development for credit rating.
The solution provided an answer to a problem that existing programs in the market were expensive and technologically “heavy”, meaning that their purchase and operation were not feasible except in the hands of leading market players.
The implications of the project was challenging the banks and the rating agencies, and some of them did state that they would do everything in order not to allow the project to takeoff. This impeded the ability of securing external financing for the project. However, it was advanced using minimal financing, able to secure a customer (a bank in Africa), the application was registered as one of the service providers in the Agency for Small and Medium Businesses website, a partnership (OEM) was achieved with a leading technology company in the field, which also invited us to take part and present it in a leading international technology conference.
At this stage, owing to difficulties in continuing to find financing sources, the activity was shut down, with an option of reactivating the project once possible in the future.