Coin Currency News Est. 2014

NEM Ventures Announces Trackgood as First Successful NEM Ignite Incubatee

Supply chain visibility software designed to empower transparency and sustainability 

Gibraltar, 18 August 2020 — NEM Ventures, the venture capital and investments arm of the NEM blockchain ecosystem, has announced Trackgood, a supply chain tracking and impact tracing tool, as its first incubatee in the NEM Ignite Incubator Programme.

Trackgood fosters ethical and sustainable practices, both in business and consumption settings.  Through enabling businesses to build transparency, traceability, and trust in their supply chains with ease, Trackgood empowers businesses to showcase their product journeys and positive impacts to end consumers with confidence. Trackgood leverages NEM to track the movement, processing and impact data of raw materials, products, and/or batches along the supply chain utilising quick response (QR) codes, with the scope to integrate radio-frequency identification (RFID); they will migrate to Symbol, NEM’s next generation enterprise blockchain, shortly after it launches in 2020. Trackgood records all supply chain information on the blockchain and cross-references with geolocation and other authenticated (off-chain) devices. 

Commenting on the announcement, Kailin O’Donnell, Co-Founder and Director of NEM Ventures, said,  “Amidst the current global crisis, supply chain management and transparency are of utmost importance to consumers. Trackgood empowers purchasers and retailers to make informed decisions about what they buy and sell, which has significant social impact potential. We are thrilled to announce Trackgood as our first NEM Ignite incubatee. This project is aligned with our mission to promote transparency and decentralisation, and we’re excited to be on board during this major chapter of growth for Trackgood.” 

Sustainability strategies, such as the well regarded United Nations Sustainable Development Goals are increasingly becoming an integral part of businesses across industries. End consumers and investors are increasingly demanding transparency and sustainability over what they are buying or investing, and companies are under ever growing pressure to respond to such demand.

Co-Founders Samantha Jones and John Hussey recognise the need for a supply chain solution that can be trusted, universally accessible, effective in building transparency, and powerful in communicating sustainability stories to end consumers. Trackgood was co-founded by Samantha Jones, an ex-military logistics officer, supply chain manager and the founder of the acclaimed ethical clothing social enterprise Little Yellow Bird, and John Hussey, an experienced software professional with extensive international and blockchain experience. 

Commenting on NEM Ignite, John Hussey, Co-Founder and CEO at Trackgood stated, “We have been long standing supporters of the NEM ecosystem and technology, so the decision to apply for NEM Ignite was an easy one. NEM Ventures’ professional and friendly team takes a hands-on approach which has helped us develop our vision into a product that will be commercialised in the coming months.”

Trackgood, previously partially supported by the NEM Community Fund, is the first company that has been invited into the beta cohort of the NEM Ignite Incubator Programme, which provides three months of intensive mentoring and financial support to kick start companies working with the NEM ecosystem. Throughout the incubation period, Trackgood has had ongoing support from the NEM Ventures executive team, external mentors from partner organisations, as well as the development teams that build the NEM blockchain and supporting projects. The purpose of the programme is to prepare Trackgood for commercialisation, market entry and subsequent investment rounds. 

Samantha Jones, Co-Founder and brand ambassador at Trackgood concluded, “Knowing where and how products are made is integral to creating a more just and equitable society. We are excited to be on this journey with NEM Ventures to help promote an honest alternative to the existing supply chain infrastructure.”

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Dave Hodgson, Chief Investment Officer of NEM Group & Managing Director of NEM Ventures and John Hussey Co-founder, CEO are available for interview. 

About NEM Ventures

NEM Ventures is the venture capital and investments arm of the NEM blockchain ecosystem, which serves to manage the NEM Community Fund. Specialising in high tech investments, NEM Ventures promotes the growth of the ecosystem through strategic investments in projects which align with the ethos of the NEM community. 

NEM Ventures focuses on projects which demonstrate a truly differentiated product, the ability to generate positive net income in the medium term, and founders who showcase the desire to move the blockchain ecosystem forward. Founded in 2018, NEM Ventures is the newest member of the NEM ecosystem and comprises a small, highly motivated team of investment and technology professionals. 

For more information, visit https://nemventures.io/

About Trackgood

Trackgood is a trusted, low-cost, light-weight supply chain tracking and impact tracing solution for positive change makers, built on the NEM blockchain protocol, which aims to build transparency, traceability and trust in supply chains to foster ethical and sustainable business and consumer practices. Trackgood tracks the movement, processing, and impact data of raw materials, products and/or batches along the supply chain utilising QR codes which are recorded on the blockchain, and cross-referenced using geolocation and authenticated devices. This enables companies to showcase their product journeys and positive impacts they are proud of making to the public in a simple and easy-to-digest way and consumers to have a deeper understanding of the products they are purchasing. Trackgood’s ethical supply chain solution holds the potential to create tangible social and environmental impact by empowering transparency and sustainability for both brands and end consumers.

For more information, visit https://trackgood.io/