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150%
Raised
£149,720
Investors
246
Target
£99,750
Equity
13.61%
Pre-money valuation
£950,000

impactRI Ltd’s first product, QIARK, is a platform that aims to crowdsource answers to questions by amplifying the intelligence and judgment capacity of individuals and groups. The platform is currently being beta tested and has a patent pending in the US.

  • QIARK aims to produce unbiased results in minutes
  • Early concept developed with IBM and experts since 2010
  • Active market: 140 tech/intelligence companies acquired since 2011
  • Target date for the first corporate license is June 2017
Information Due to ongoing discussions with investors, the pitch has been extended and will now expire at midnight on Friday 12th May.

Idea

Businesses are beginning to understand the collaborative potential of social platforms such as LinkedIn, Facebook, and Twitter.

QIARK aims to amplify the intelligence and judgment capacity of individual people and groups, to solve commercial, political and social problems - striving to bridge the gap between data and actionable decisions. IBM’s work on ‘system integration’, identified potential annual savings of $4 trillion in organisations globally.

QIARK is designed to be simple to use and can produce unbiased results in minutes. The idea was conceived in 2010. We began working with IBM to progress to the ‘proof of concept’ stage. We also discussed the early idea with a number of entities within the banking sector at the time who were interested to hear more.

Development began in 2015; in the past 12 months we have continued promoting Qiark, engaging with experts, including the ‘father of virtual communities’, Howard Rheingold, who believes the project has value; and we have interest for platform-cooperative uses, including Coop UK, which has allowed us to identify potential license-sale opportunities and therefore would give us access to large numbers of potential users.

We are now testing the product in beta project stages with volunteers.

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Risk warning

Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

impactRI has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Seed Enterprise Investment Scheme (SEIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 50 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.