Meet 'Bounce' - the firm created by Trinity students redefining 'market research for the smartphone generation'
A group of Trinity students have received €12,500 investment to help grow their digital market research firm 'Bounce'.
The team of four - a mix of Business Studies and Computer Science undergrads - have received the funding as they are offered a place on the college's student accelerator, backed by Bank of Ireland.
Tangent's LaunchBox is a summer programme open to early-stage startups, and successful applicants get access to on-site office space and expert mentorship in addition to the financial support.
Charlie Butler, Rónán Dowling-Cullen, Josh Stafford and Brian O Mahony have been working full-time on the concept for Bounce - "market research for the smartphone generation" - since the start of the year.
"We all knew each other through mutual friends before we started working on Bounce. After talking to Rónán and Josh it quickly became apparent to Charlie and I that they would be the perfect co-founders for this idea," Brian told Independent.ie
Having placed first in the Tangent's Sprints program, the Bounce co-founders automatically won a spot in the pitch-off for a place in Launchbox, skipping the applications stage.
Despite coming runner-up in a Dragon's Den-style competition at Trinity last Thursday, Tangent have offered the young entrepreneurs a spot on the coveted programme without the need for further pitching.
Bounce was created to make improvements on expensive, time-consuming and inefficient marketing research, according to the team, providing the client with a personalised service that doesn't cost a fortune - and rewarding the customer for their response loyalty.
"A way to provide companies with instant feedback about their target market and reward customers for the feedback that they give on engaging gamified surveys...so we connected the dots," said Charlie.
The companies pay Bounce a certain amount (say €3) per survey response which will be direct feedback, for example, from Dublin women in the 20-30 age group.
What differentiates them from existing survey companies, according to the team, is that survey respondents are repaid for their loyalty by earning points for each survey, so a €1.50 voucher for each survey completed, for instance.
They can be redeemed in a number of retailers - cafés and restaurants - and online businesses who have already signed up to the scheme with Bounce.
The company have designed their own on-board digital rewards card which can be downloaded on any phone and be redeemed by tapping off 'Bounce Pads' which will be available in selected retailers.
Initially targeting the 220,000 students across Ireland - and retailers around major colleges such as UCD, Trinity, DCU, DIT, UCC and NUIG - the company plans to expand the places where students can spend their points.
Several Dublin retailers who are already waiting to have Bounce Pads installed in their stores include Oxmantown, Network, Wishbone, Bibi's, Arran-Street-East, Meet Me In The Morning and Brother Hubbard.
"A supplemental feature that we having included is that the Bounce card you use to pay doubles up as a digital loyalty card, which means our users can use the one card to collect loyalty stamps in every partnered retailer, regardless of whether they pay in cash or with Bounce," Charlie said.
"This way, we’ll save our retailers up to €30 a month paying for paper loyalty stamp cards. When our users download the app for the loyalty service they’ll realise they can also earn free coffees through our surveys. By simply having bounce pads in these retailers and having people download bounce as they come along".