#StartupStory: Unlocking the power of business networking with Vault Share

Entrepreneurial duo Dr Chad Marthinussen and Gino Lange joined forces under the Wave Innovate banner, launching a number of exciting tech products into emerging markets. The common Nanowave face masks are just one of the products they are well known for, and now they are introducing Vault Share - a turnkey solution to unlock the power of business networking.

Dr Chad Marthinussen, co-founder of Wave-Innovate

Dr Chad Marthinussen, co-founder of Wave-Innovate, tell us more about their latest offering...

Can you tell us a bit about Vault Share?

Vault Share forms part of the Vault Brand ecosystem which comprises Vault Wallet + Vault Share. It is a digital social card which uses NFC to transfer a curated digital profile created on our app.

When, how did you get the concept come together?

We have been working on the idea since Q4 2019. The basic layout was simple: create a lifestyle brand to cater to the growing shift towards entrepreneurship and the “gig economy”. It’s a movement, and we want to facilitate that movement.

What need were you trying to solve when you came up with this concept?

Vault Wallet was created to create a safe and stylish home for our most important info. We want Vault to be South Africa’s favourite cardholder.

I love networking. I truly believe that it’s at the core of creating something of value. What frustrated me was that often opportunities are missed because we do silly things like type a number incorrect number/email etc. We are also exposed to so many new people, it’s easy to get lost in the noise.

Vault brand was created to allow the end user to make a memorable first impression which would hopefully lead to more effective networking, lead generation and eventually a valuable relationship.

So, what is the core function of Vault Share?

Enhance the way we network and build relationships, bringing our digital lives into the real world, while still maintaining the romance of “sharing” your business card. Vault share can replace the printed business card completely within the next 12 months.

Could you briefly explain how it works?

Vault share uses proprietary software and NFC to allow seamless sharing of information. Low frequency Bluetooth also allows “networking mode” which means you can connect to those around you using the app. Imagine thousands of people open to meeting new people in the real world using our app to connect face to face after connecting on the app!

Surely, you had to build a prototype. Who was involved in this? And what were the challenges?

South Africa is a unique market. We are very focused on bringing first world tech to Africa in various industries - and this was no different. We partnered up with a company abroad to bring our vision to life.

Has the product been tried and tested? If so, what has the uptake been?

Locally we have had some positive feedback from some users in various industries from real estate to marketing. We have also had some positive feedback from users in the entertainment space like actors and musicians who have been using both the Vault wallet as well as Vault Share. One of the artists is Prince Kaybee and his manager who use the Vault wallet and Vault share day to day.

Who is your target market?

Vault brand is an aspirational brand, and we want to create a premium lifestyle brand that the end user can be proud of being part of. It is movement. Vault share has two distinct groups that would benefit tremendously.

• Social application: Day to day use by people building their own personal networks. This involves casual social encounters to business type networking.

• Enterprise/corporate: With a radical shift happening within the corporate space; Vault share will be very valuable in reducing stationary costs + improving lead generation and tracking.

As an innovative business card, what security measures are in place to protect the data?

The data that is shared by the end user is curated by the user. No links/date can/will be shared unless the end user has copied the link into the app. The card gets locked and encrypted using a hash key and the profile itself is 256 bit encrypted with a hash key. It uses the same technique used by crypto.

To find out more, go to https://wave-innovate.com/