Company name: Bagzit Ltd
Founders: Tim Hegarty (49) and Alex Pilkington (42)
Background: Songwriters and music producers
Based in: Bath
Very simply, what does your tech start-up do?
- Bagzit encodes any form of broadcast audio with a special digital code which enables brand-to-fan 360 interaction directly via mobile.
- Bagzit codes can sync adverts to mobiles and enable brands and marketers to send relevant offers, info, vouchers directly to their customers
- Bagzit allows brands to analyse the interaction between their adverts and their customers which then allows for further personalized upselling and monetising opportunities.
Tell us why there’s a need – what do you disrupt?
TV advertising revenues are decreasing and attention spans are decreasing. Bagzit codes enable marketers to capture the attention of potential customers by connecting the ad directly to the mobile.
In addition, shopping malls, live music venues (including outdoor festivals) and sporting venues have 10’s of 1000’s of people as captive audiences every day and Bagzit enables these venues to engage with potential customers in situ.
Are you funded?
Yes, seed funding of £50,000 and we’re moving to raise another round in the autumn.
What were you doing before starting?
Hegarty was a professional songwriter signed to Warner Chappell Music and wrote a top 10 hit for D:Ream. He also wrote songs for Gloria Gaynor, Taja Seville and World’s Apart amongst others. Prior to this he had secured two record deals (BMG & Solid Pleasure) with his band Baby June, scoring a top 75 hit and three top 20 dance chart hits. After that he set up Songmaster Publishing in order to represent Songsforsale.co.uk – the catalogue of one of the world’s first on-line music companies – which he founded in 1995.
In 1998 he set up White Records Ltd in order to produce and release the charity album “Across The Bridge of Hope” which included songs by Van Morrison, U2 and Sinead O’Connor and raised £330,000 for the victims of the IRA Omagh Bombing which killed 29 people. He was awarded BBC Northern Ireland’s Personality of The Year for his work on this project. Hegarty has also set up and run successful recruitment and property investment companies, and raised £22m for a property syndicate in Edinburgh.
Having moved to Bath in 2012, Hegarty teamed up with music producer Alex Pilkington to work on an album for the band DERRY. During one of these recording sessions they were lamenting the lack of income for songwriters and came up with the idea for Bagzit.
The idea is simple. The future of music is not selling music to music fans but selling music fans to advertisers.
What’s the best thing about where you’re based?
Bath is a beautiful place to live with easy access to London and Bristol. The tech scene in Bristol is absolutely buzzing with over 70,000 creative people working on many exciting established and start-ups and the UK’s fastest-growing ‘globally significant’ tech cluster outside of London. Support from organisations like TechSpark and the Engine Shed is also really helpful for start-ups.