Two local entrepreneurs, responsible for a revolution in London’s historic markets, have pitched their idea to over 150 business leaders and investors, after winning the Tata Blue Skies Award for disruptive businesses.
myMzone.com, created by recent Middlesex University MBA graduates Ravi Jay and Asaf Nahum while they were studying, allows market traders to sell products to customers through their website giving the markets a truly global reach.
The pair’s latest success came at the National Association of College & University Entrepreneurs Varsity Pitch 2012 in the Tata Blue Skies Award for Disruptive Business category where they were selected by a panel ahead of six other businesses. The award, sponsored by Indian car manufacturer Tata, was given for myMzone.com’s innovation, creativity, scalability and management.
The myMzone.com idea has boosted sales for market traders at Camden, Brick Lane, Portobello, Spitalfields, Borough and Greenwich markets and they hope to expand to more markets in the future.
The website was originally inspired by the London 2012 Olympic Games, as Ravi and Asaf wanted to ensure that the influx of tourists from around the globe weren’t put off buying large or bulky products from London’s markets, and came up with the idea of providing the service through myMzone.com.
Middlesex University alumnus Ravi Jay from Camden said: “Being exposed to business leaders and investors at a time when we are ready for a cash injection is very important. It is good to get endorsements for the business idea in the form of awards and recognition. We draw inspiration and drive from the positive feedback to work harder and attain true potential of the business idea.
"During our MBA programme at Middlesex, we realised that there is no single online platform which tourists and shoppers could maintain their connection with local markets, merchants and their products. We decided to do something about it and started myMzone.com"
Fellow alumnus Asaf Nahum from Highgate added: "Tourists often comment on the uniqueness of London markets and we wanted to share that with the world, while helping to preserve local markets and businesses.”
It has been a successful few months for the duo – they were also Camden and Islington Business Awards winners in the people’s choice category and finalists in the small business of the year category.