Investor Update | October 2022

Dear Investor Community,

We are undertaking a small raise now to provide a funded runway to progress and conclude some near-term key strategic initiatives. We will be targeting a larger raise at a materially higher valuation in the new year. We will be giving priority to existing shareholders in future funding rounds so participation in this round will provide the option for follow-on investment.

October 2022 highlights against our three core strategies:

  1. Global Strategic Channel strategy: Mindhive enters into legal agreement finalisation with a Tier 1 Global Services Industry partner. There is now an unrivalled opportunity to enter into a Joint Venture - a co-innovation partnership - that scales the company's value.

  2. Global Clients strategy: Mindhive secures Queensland University of Technology renewal and new partners. Mindhive was used in a BDO & Project Management Institute Conference. Clients BDO and QUT are currently using Mindhive in their organisational strategic planning.

  3. Building our AI Maturity strategy: Mindhive secures nationally recognised AI/Machine Lead to drive AI maturity. The investment will inject AI/Machine Learning team growth. Increasing our data, activity and engagement, Mindhive user growth continues at 1000%+ and Mindhive launches our new YeahNah sales landing page.

Please consider investing in Mindhive to help us reach our goal.

The rolling post-seed raise offers our investor community the chance to add to their current holdings. Our community comprises 283 passionate investors, including QIC's BBW Funds, ATF Wavebreak Ventures Fund, BBW Funds/Wavebreak Ventures Fund, AFG Venture Group Asset Management, JMJV Holdings, Bizzell Capital Partners and over 260 individual investors via our Birchal and VentureCrowd seed raise.

For those of you who have been with us all along, we thank you for your continued support and passion for Mindhive.

We believe we will capture the collective mind that will solve tomorrow’s problems by reimaging intelligence.

Best, Bruce

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Social media post from Mitzi Gilligan saying 'Go Mindhive!'
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Bruce Muirhead | CEO & Founder | E : ceo@mindhive.org | P : 0411 645 851 | A : Level 6, 200 Adelaide Street, Brisbane, QLD, 4000 www.mindhive.org

New Book A Global Mind: Fuelled by The Power Of Many | Mindhive Results & News Centre

image of Bruce Muirhead

Ben Johnston joins Mindhive Board

Mindhive is delighted to announce that they have expanded the Board of Directors, with Ben Johnston appointed as Director.

Ben Johnston has spent more than 18 years developing businesses, consulting on digital strategy and identifying market gaps and future trends. He's founded and co-founded some hugely successful companies, including digital ventures studio Josephmark (JM), motion design company Breeder, and indigenous creative agency Gilimbaa. Portfolio companies include trending music platform We Are Hunted (acquired by Twitter in 2012), and Clipchamp (acquired by Microsoft in 2021). 

Mindhive CEO Bruce Muirhead said of the appointment, "Ben has been a critical part of Mindhive's continuing global emergence. Ben first engaged with Mindhive when Josephmark reimagined and redesigned Mindhive."

"Ben's experience and knowledge of our company, the ideas industry, and the emerging metaverse bring great strength to Mindhive. We are delighted to have him joining the board and driving the company forward. His input from a strategic and design perspective will be hugely significant as we plan the next phase of the Mindhive's growth and expansion."

Ben said of his appointment, "I am delighted to have joined the Board of Directors and look forward to further assisting the business on a global strategic level. With the developing metaverse, Mindhive can capture the world's surplus capability in purposeful, new, exciting ways. It's an exciting time for the company's development and growth."

The board's expansion is another indication of the commitment Mindhive has to grow the business significantly over the coming years. Having experienced rapid growth since the transition to enterprise tech, there is a clear desire to keep that level of development moving forward.

Bruce added, "Our global strategic alliances, client development and AI machine learning will be key to our success and meeting our objectives. It is a fascinating time within the business and a great opportunity for all to develop along with the company."

image of Ben Johnston
Logo of Mindhive and Committee for Brisbane with a tree graphic, text indicating 'Since 1958' and the tagline 'Collective Intelligence Partner'
Logo of Mindhive and Australia India Business Council with the text 'Collective Intelligence Partner'
Logos of Mindhive and Project Management Institute Queensland Australia, with the text "Collective Intelligence Partner".
Logos of Mindhive and The University of Queensland with the text 'Collective Intelligence Partner'
Logo of Mindhive and Mater with the tagline 'Collective Intelligence Partner'
Logos of Mindhive and BDO with the text "Collective Intelligence Partner" underneath.
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Logo of Mindhive and Canteen with the text 'Collective Intelligence Partner' underneath.

New Clients

February Post-seed B investment ($322K) secured 1000%+ growth as at 26 October ‘22

Line graph showing a steep increase in total events starting around February 2022, with the total reaching 1,4200 by October 2022. The graph indicates a significant rise in events from December 2021 through October 2022.

It also delivered >

  • A smiling man with glasses, wearing a white shirt and dark blazer, standing in an office with a bookshelf in the background.

    Machine Learning & AI Lead Joins Development Team

    Nelis is a recovering data scientist that has spent the better part of the last decade solving problems with data. For the last few years, the focus has been utilising natural language processing (NLP) and the building, deploying, and maintaining of machine learning models (MLOps) to identify opportunities and optimise processes in the financial services, and more recently, tech sectors.

    M.Sc. in BMI; B.Sc. (Hons) BMI - Data mining/Business analytics; B.Com - Risk management - NWU, South Africa

    Linktree, Youi, Outsurance

  • A digital interface screen for adding participants to a challenge list. It shows various name options with profile pictures, progress bars indicating levels of engagement or skills, and an 'Add' button next to each name. The top includes a title and a brief description about inviting participants.

    Mindhive 3.0 AWS Infrastructure Live

    Mindhive’s web application has been migrated to Amazon Web Services and Cloudflare. Mindhive refreshed this Infrastructure to improve visibility, scalability, and ISO27001 compliance. Post-seed B investment provided for Infrastructure development that is:

    Reproducible - everything in code • Simple and standardised - to improve visibility and reduce documentation and handover effort • Secure - to meet or exceed ISO 27001 • Able to incorporate AWS “smarts” (Machine Learning etc) as required • Exceedingly well documented.

  • Four people, two women and two men, gathered around a tablet in an indoor setting. The woman in background and the man in the foreground are wearing black T-shirts with 'Mindhive' written on them. The man in the foreground is showing something on the tablet to the group.

    Research, Development & Innovation

    As Mindhive’s R&D project continues, repeated research and investigation into newly published professional findings, academic reports, and other reputable knowledge sources were conducted. Scientific sources evaluated by Mindhive include utilising neural network text similarity recognition (Ghasemi et al., 2021) to improve recommender systems and an analysis on the 2 primary forms of text summarisation systems (Aggarwal, 2022) in the context of machine-learning-based text summarisation as a whole.

    Mindhive’s investigation and review of available research identified that there is no other digital crowdsourcing network capable of performing the complete list of features and functionalities to be built into Mindhive 3.0. For example, no competing solution has shown the capability to apply blockchain and tokenization technology to a methodology capable of creating a novel form of IP for insight-generating users.

Please share our 60-second advertisement with colleagues who may be interested in a Mindhive enterprise demo. Help build Mindhive’s value.

“Great innovation is born out of collaboration and connection and this can only be done by creating an environment where knowledge, people, insights and expertise come together to solve problems and uncover solutions.

The Innovation team at
BDO in Australia to be partnering with the team at Mindhive to uncover opportunities to do this better both as a business and a contributing member of the community.”

Rene Plamenac | Innovation Lead, BDO

Photograph of a woman with long blonde hair, blue eyes, wearing pearl earrings and a white top, smiling at the camera against a neutral background.

Mindhive Post-Seed C Raise ($345K) will deliver:

  • View of ANZAC Square in front of a large beige building with signs for 'hub' and pedestrians walking on wet street with cars and buses.

    Lead Enterprise role ($250K)

    Mindhive has secured the interest of a global Lead Enterprise appointment. They are a Senior Sales and Business Development Executive with global experience, having sold to and managed accounts across the Asia Pacific, Japan (‘APJ’) and North American regions. Their last three roles required them to establish a practice, build a brand and develop a pipeline through direct and channel engagements within the region.

    Identification, lead generation and the capitalisation of market opportunities to increase revenue, grow market share and maximize profitability are key skills. Their client network is extensive, with a mixture of middle/senior management as well as C-Suite. Established strategic alliances and personally managed these relationships to ensure scalable growth for their business. They’re skilled in territory development, strategic planning, risk analysis, business process optimisation, project management and contract negotiation. We want them on our team.

  • Four people in a meeting room with laptops and a large screen on the wall. Two are sitting at the table and two standing behind them. The seated woman is wearing a Mindhive T-shirt.

    Legal Maturity for global enterprise engagement ($20K)

    We have secured a partnership with a legal firm to assist Mindhive with developing its legal maturity. You might like to think of this as a “start-up shopping list” – some items (e.g. SaaS terms and privacy documentation) will be more time-sensitive than others, and prioritising the key documents first will also help to space out costs.

    Fore example, preparing the first draft of a template SaaS subscription agreement, pursuant to which Mindhive will provide a customer with a licence to, implementation of, and support for, use of the Mindhive platform within the customer’s business. We’ll build documentation regarding back-to-back liabilities in respect of AWS; ownership and licensing user-generated content; data protection and security; General Data Protection Regulation (GDPR) Standard Contractual Clauses (SCCs); security; personal information privacy (PIP); and alignment with Mindhive Terms and Conditions that apply to end users.

  • A digital diagram illustrating a wildcard algorithm version 0.1, labeled as an experimental procedure draft, featuring nodes, connections, and various coded labels and numbers.

    Artificial Intelligence Maturity ($50K)

    At its core, the Mindhive experience is bringing passionate users towards new challenges and problems whilst consistently offering users the opportunity and the power to provide meaningful insights with the knowledge that their thoughts have the potential to be met with purposeful recognition and meaningful action, as opposed to a standard social media platform where thoughts and ideas are washed out by the noise of countless trivialities and make any attempt at sharing or discovering new ideas feel futile.

    In order to meet the ideals and ambitions of this core Mindhive experience, Mindhive must maintain and improve on these essential features: Wildcard Algorithm; Rewards and Recognition; and Discussion (Automation)

    Mindhives’ core features are not so simply because they make Mindhive work, but because they make Mindhive unique.

  • Text saying 'YEAH NAH' in green and pink 3D letters on a white background.

    Launch Mindhive's YeahNah App ($50K)

    The YeahNah app is a gamified binary response survey system functioning both as an independent mobile phone and web app in addition to acting as part of a larger collection of Mindhive data collection and insight generation tools and services.

    A core component of the YeahNah app is the complementation of novel smart technologies with the capability to generate and interpret data both on and off the YeahNah app, deriving new questions for users from outside sources then collecting the resulting answers and generating clear insights, creating an AI driven experience for both individual and enterprise customers.

    In its completed form, the YeahNah app will have the capacity to scour the internet, including news sites, social media and other online sources for written, visual and textual information that can serve as the basis for new questions, generated automatically and coherently by Mindhive's text recognition and generation AI, and then provided to users of the YeahNah app for answers.

    Additionally, the YeahNah app will apply related Ai technologies to the clear and automatic collection, interpretation and presentation of the resulting user answers into insightful findings on par with that of human analyses a convenience unseen in competitors.

  • A person holds a tablet displaying a magazine or report titled 'Wax Lyrical' with a modern building's red glass exterior on the cover. The tablet has a stylus attached to its side.

    Distribute Mindhive's Wax Lyrical Globally ($5K)

    The Wax Lyrical magazine has been designed as a monthly series of papers that are being delivered globally to our Premium member community. We believe in rewarding our Premium community with access to the future. WAX LYRICAL is your monthly brief offering you analysis and case studies of current trending skills, challenges, themes and trends on the future of collaboration and collective intelligence. Members also have exclusive opportunities to write in WAX LYRICAL themselves.

    Readers learn to use the crowd as your open innovation partner and develop your ability and tools to lead, innovate and harness critical expertise to lead in today’s digital age with a focus on:

    Shared and collective intelligence technologies of insight and expertise engaging innovation with crowds collaborative problem-solving; and strategy co-design and execution

  • Three people working on laptops in a meeting room, two young men and an older woman.

    Account Manager (Part-time) ($25K)

    Currently, Mindhive has one Account Manager at 4 days a week. We need to build this out as we engage more prospect interest.

    A Mindhive key account manager's main role is to retain top customers and nurture those key relationships over time. Ideally, they become a strategic partner and advisor to the client, discovering new opportunities to work together for mutual benefit.

    A MIndhive account manager is an individual who oversees the management of a customer's account within the company. They work with the client to answer their major questions or concerns and deliver impressive customer service.

Thanks for being a part of the journey so far

Mindhive’s YeahNah App launches on Apple and Google Play App Store