PICTURK IS a good example of why those with a bright business idea should keep an open mind on how it will eventually work out. Had partners Paul Geraghty and Christian Sommerauer stuck to their original idea to launch a competitive tenders platform for photographers, they may well have had some success. But in April last year they had a “eureka” moment, refined their idea and have now come to market with a different but much stronger product with more growth potential.
Software designer Geraghty and engineer and keen amateur photographer Sommerauer have developed a software as a service platform that solves the operational hassle of running photography competitions online. Their main target market is the huge international community of amateur camera clubs and photographers who regularly organise or enter photographic competitions. There are roughly 200,000 camera clubs around the world and more than 170 competitions are held each each year, attracting thousands of entries. The Picturk platform can accommodate up to 17 million users.
“We are the only people attacking this market and approaching it this way,” says Geraghty. “It is always possible for someone to imitate a software solution and virtually impossible to protect it, but our advantage is our in-depth market knowledge. We have a very deep understanding of our end user and how they want to connect and compete. They are passionate about their photography and technology savvy, but they still needed a system that makes the process easier.”
Geraghty and Sommerauer met while studying for an MBA at the UCD Michael Smurfit Graduate Business School. They initially spent time developing their idea at the National Digital Research Centre and were awarded funding under Enterprise Ireland’s competitive start-up fund. The company has recently won a place on the Propeller programme at the Ryan Academy at DCU, which includes an investment of €30,000. So far it has cost about €90,000 to develop the idea into a commercial product.
Picturk will make its money by charging camera clubs an annual subscription based on their size. Its second revenue stream is hosting photographic competitions for corporate clients. It will also generate income from charging a fee on handling entries for international photographic salon competitions.
