January 21, 2019
FUNDRAISING UPDATE
“Belgium enjoys a strong entrepreneurial tradition and attaches great importance to entrepreneurship. Nevertheless, for start-ups the road to financing often turns out to be long and difficult. As a result, an entrepreneur sometimes spends more time in bringing together financial resources than in the development of his project.
In order to remedy this, Seeder Fund has decided to approach Belgian innovative start-ups more proactively with rapid decision-making that provides two types of intervention: For young, selected start-ups, three meetings are sufficient to finalize a first financing in the form of convertible bonds of up to EUR 100,000. The financing is based on standard agreements intended to finance the start of the company. The Seeder Fund acts both alone and together with other players who wish to participate in the financing of the project. For projects with a strong dynamic and engaged management, the Seeder Fund can also play a role in a second or third round to finance the growth of the company. This intervention takes place as participation in the capital, which can amount to 1 million euros. The Seeder Fund gives priority to start-ups of which it has financed the start-up. However, this is not an absolute condition.”
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January 11, 2019
LOOXID VR TEST
In collaboration with the KU Leuven neuroscience lab, Mindspeller helped secure access to a prototype EEG-VR headset to be evaluated for quality control.
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December 15, 2018
FUNDRAISING UPDATE
Business Angel and former Vice-Governor of the National Bank of Belgium, Marcia De Wachter invests in Mindspeller!
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December 10, 2018
MINDSPELLER IN THE LEADING BELGIAN FINANCIAL NEWSPAPER
Randstad sponsors an article on Mindspeller in the leading Belgian financial newspaper.
Randstad sponsors an article on Mindspeller in the leading Belgian financial newspaper. Big data analysis based on neuroscience research: according to Hannes De Wachter, Mindspeller's co-founder, that’s the future of marketing. "unconscious associations are predominantly responsible for our purchase decisions" Hannes draws inspiration from the work of Daniel Kahneman, winner of the 2002 Nobel Prize in Economics. With his bestselling book Thinking, Fast and Slow, he laid the groundwork for the idea that 95% of consumer behaviour is determined by our unconscious ‘system 1’ or ‘autopilot’ part of the brain.

"We calculate and monitor the semantic distance between brand-related stimuli and their intended associations in our neural network."

While Hannes was enthusiastic about the findings of Daniel Kahneman, Professor Marc Van Hulle, had developed an innovative EEG based Brain-Computer-Interface (BCI) in his neuroscience lab at the KU Leuven university hospital. Prof. Van Hulle was able to allow locked-in patients to communicate by correlating cerebral signals that indicate the extent to which an individual associates two concepts semantically.

Fraction of a second

This new communication paradigm served as a proxy for the unconscious ‘system 1’ because the EEG technique used captures variations of cerebral signals within a few tenths of milliseconds. A period of time too short to be aware of or allow for a rationalised response. Professor Van Hulle develops this technique further to improve communication prospects for patients. After meeting with Hannes and exploring ideas for increasing overall assurance in marketing communication research, Mindspeller was born.

Unconscious

As spin-off from Europe’s leading university in terms of innovation, Mindspeller mapped a semantic network of over 2 million unconscious associations, a neural network validated later with Prof. Van Hulle's EEG technique. "This network is a relevant approach to the average consumer's unconscious ’system 1’ autopilot. The company developed algorithms to position brand-related stimuli used by marketers (brand names, logos, tag lines, images, videos, smells, copy, etc.) in the network. We can thus monitor the campaign impact on the subconscious level by calculating the semantic distance between these concepts and their intended associations."

Mindspeller AI offers advice based on neuro-positioning in the network

It sounds like science-fiction but make no mistake: the market for big data neuromarketing is rapidly evolving. "Neuromarketeers can help advertisers, advertising agencies and content agencies before and during the creation of a campaign." "In the concept phase, our algorithms help generate category, brand or product visions and campaign storylines with limited input from the advertiser. In the creation phase, agile neuro-positioning of concepts allows for A/B testing and actionable insights that help steer the brand's position towards the intended associations."

'Gut feeling' no longer in charge

This technology makes it easier and more reliable to assign value to a brand. "There is still no scientifically validated neuro-metric to underpin brand value. As a result, intangible assets are often underestimated on companies' balance sheets. Thanks to neuromarketing, it is possible to work with scientifically sound KPIs that underpin the impact of the creative, intangible aspects related to a brand." This trend will open up completely new avenues in the field of marketing. "I'm thinking of neuromarketeers who will be advising creative designers on the best way to connect various brand-related associations. Gut feeling alone, which we all know can fool us from time to time, will gradually get flanked by scientifically sound neuro-metrics."
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