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Startup Spotlight: Yachtchain

We sat down with Ege Özsaygili, co-founder of Yachtchain, to talk about the journey to date, the problems they're solving and the plans for the future of the business.



How did you come up with the idea for the business?

The idea for our business occurred during a lunch with my cofounder Gurkan in early 2023. I was highlighting the absence of technology and transparency in the boat sale and purchase processes. He was interested in helping to build a solution to address the challenges, so we decided to delve into the problem further and initiated the development of our platform, now known as Yachtchain.


Why does the industry need the solution you're providing?

We identified challenges including inefficient and time-consuming processes for yacht sales and services among brokers, limited technology adoption (reliance on MS Excel, Google Drive, Whatsapp) within the broker community and an absence of a secure and transparent system for tracking yacht ownership and history.


What have you enjoyed most about starting your own company?

Having previously held C-Level management roles and founded successful startups, Gurkan and I derive immense satisfaction from developing a product tailored specifically for the yachting industry and its stakeholders. Yachtchain is more than a business venture; it is a passion project that we believe will revolutionise the industry.


What challenges did you have to overcome at the beginning of your journey?

Our primary objective is to reach yacht brokers globally, which presents a significant challenge in itself. To overcome this hurdle, we forged partnerships with online boat marketplaces, establishing a foothold in the UK and Germany.


Any bits of advice for entrepreneurs getting started in this space?

I strongly advise prospective entrepreneurs to conduct thorough market analysis prior to launching a business, including defining target needs to make sure you're able to clearly communicate value proposition.


What's the plan for the future of the business? Where do you see the company in 3-5 years?

Currently, our inaugural product, Yacht Broker CRM on Salesforce, is gaining traction. By the end of Q1 2024, our blockchain infrastructure will be in place, serving as the cornerstone for Yachtchain users to ensure transparency in the yacht industry ecosystem. In 5 years, we envision Yachtchain as the industry's most trusted and prominent data company.

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