NEM Ventures is pleased to share that Trackgood, a supply chain tracking and impact tracing tool, is the first successful incubatee in the NEM Ignite Incubator Programme.
Trackgood was previously partially supported by the NEM Community Fund, and is the first company that was invited into the beta cohort of the NEM Ignite Incubator Programme. NEM Ignite has provided Trackgood with three months of intensive mentoring and financial support to kick start its growth within 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 NEM and supporting projects. Overall, the programme has helped prepare Trackgood for commercialisation, market entry and subsequent investment rounds.
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 NIS1 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, shortly after it launches later this year. Trackgood records all supply chain information on the blockchain and cross-references with geolocation and other authenticated (off-chain) devices.
Kailin O’Donnell, Co-Founder and Director of NEM Ventures, commented on the news, “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 of Trackgood, Samantha Jones and John Hussey, recognised 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 the success of NEM Ignite, John Hussey, Co-Founder and CEO at Trackgood, “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.”