The Boring Start-Up
Laurence Sotsky, CEO
Picture a start-up.
Picture a business with a paltry $4,500,000,000 in investment just exiting pre-stealth mode. It has some aesthetically pleasing gibberish name like Parf or Gorple. Gorple is going to do something incredible like cure novel coronavirus by launching it into the ionosphere on a shuttle made exclusively of plastic reclaimed from the Great Pacific Gyre. Gorple doesn’t care about trivial things like “revenue” or “results this decade” - Gorple is changing the world.
Picture a humble-in-a-flashy-way founder in his late 20s. He’s wearing Tom’s shoes and he talks about the company’s mission with words like revolutionize and democratize. He drinks only independent yerba mate. He doesn’t have a job, he tells you without your asking, he has a passion (which happens to pay him $744,000 with a diluted 14% of company shares...but he still gets 2 votes on the Board.)
Picture the uber cool, change the entire freaking world start-up.
Now forget it - God knows we already have.
We are Incentify and we are boring, or perhaps we should say, we are the anti-Gorple. Incentify (a real English word pertaining directly to our industry) was founded by sound business people in their 50s who honed in on the massively under-leveraged asset class of Tax Credits & Incentives. We drink coffee in the morning and we go to our kids’ soccer games on Saturdays (actually…I do drink yerba mate.) If changing the world means dramatically improving the managing, monetization, and discovery of C&I, then sure, we want to change the world.
Yuck - a self owned start-up not focused on intergalactic viral re-engineering depending on sales for operating capital rather than investors...do you guys even start-up, bro????
It gets worse. Here are some numbers:
The average fortune 500 company carries a portfolio of more than $212,000,000 in Tax Credits and Incentives with many of the biggest companies carrying well in excess of $5b.
There is no SaaS platform to manage C&I.
Repeat: there is no SaaS platform to manage C&I. The biggest companies are using Excel and Post-It notes.
Or rather, there was no SaaS platform until Incentify.
Essentially, Incentify is an excellent/the-only platform for a massive and under-leveraged asset class. It is a company which is self-owned. And it does not have a slide instead of stairs in its humble El Segundo HQ.
It’s boring. We’re boring.
We believe that in a world of Gorples, being a solid and dependable provider of a needed service to an excellent client base with a huge asset is a fine little niche indeed. In many ways, we see ourselves as a reflection of C&I itself - a far-from-flashy asset worth millions, if not billions, to the companies smart enough to understand it.
And that’s just fine by us.