Participants Profile

Every year, more than 75% of new and small companies around the world shut down. In the USA alone, over 360,000 companies shut down every year (U.S. Small Business Administration, 2019), and in 2017, 898,000 out of 1 million newly established businesses shut down (U.S. Small Business Administration, 2020). Based on the data gathered by the Global Entrepreneurship Monitor (GEM), researcher Moya K. Mason (2012) estimated that nearly 100 million new businesses are created each year worldwide. However, about 30 to 50 million companies stand a chance to survive within 1 to 5 years of operation. Evidently, the business shutdown rate is staggeringly high. This is why www.flipidea.co (flee-pee-dia) is an affordable state-of-the-art business intelligence platform empowering entrepreneurs to reduce costly mistakes, make prudent strategies, compete innovatively, and fundraise strategically. We understand that aspiring and budding entrepreneurs value insightful data and intelligent tools. Unlike our competitors, Flipidea's affordable solutions empower entrepreneurs to validate the market at minimal cost, so they can make data-informed decisions to improve and innovate their business. In November 2019, Flipidea was awarded the ‘Best AI & Machine Learning Startup’ in Brunei Darussalam at the ASEAN Rice Bowl Startup Awards 2019. For its innovative research, Flipidea was awarded the ‘Research & Development Special Award’ by H.E. Minister Dato Abdul Mutalib Yusof from the Ministry of Transport and Infocommunications of Brunei Darussalam at the Brunei ICT Awards 2019 in September 2019.