UoB Entrepreneur launches new Web3 start-Up - Louis Akaatenger

Louis Akaatenger has just completed his degree in Mechanical Engineering at the University of Birmingham and he is the founder of emerging tech start-up business Maringo.

Maringo is a new social ecosystem for digital creatives using Web3 technology, allowing users to interact, share and earn through gamification.

Web3 (or Web 3.0 as it is sometimes written) is the name given to the third generation of the world wide web. It is seen as a concept or future improvement to the current version as we know it (2.0) by integrating blockchain technology to ensure for a more autonomous network, free from external ownership. Web3 gives users a greater control of personal data and is also linked with other tech opportunities such as NFT's, Internet of Things, Metaverse and Cryptocurrencies.

We connected with Louis to hear about Maringo and to find out about life as an emerging tech entrepreneur.

Louis: Maringo is a next generation social ecosystem built on a web3 framework where users can leverage our platform to explore, share, connect, socialise and earn. We are revolutionising the social media space through the gamification of social interactions, and integrating recent web3 technologies to secure and reward users on our platform.

The idea for Maringo actually started back in 2018, at the time it was slightly

different from what it has become now. But it was still very much aiming to be a digital ecosystem for creatives. I restarted the idea in February 2022, out of my growing interest and knowledge of web3 technologies and pivoted slightly to what it is now. Joined by an amazing team of some really talented individuals, we have really been hard at work in making this dream a reality.

I believe a huge driving force in me actually going for it, was the University of Birmingham start-up course which was hosted back in February this year. Having the opportunity to speak to other like-minded, young entrepreneurs, as well as some experienced veterans, really encouraged me to really pursue it. I then became quite involved with the B-Enterprising network, going to many organised events. 

What are the best aspects and worst aspects of running my own business?

Owning your business is definitely a roller coaster, with many ups and downs.

I would say some of the best aspects of it are the freedom to express your creativity and to really connect with the team and individuals you work with, it's the celebration of the little moments of success and breakthroughs that really become the highlights of my experience.

Some of the worst aspects definitely include the fear of failure and the responsibility of knowing that others look up to you and now depend on you.

What is it like starting out?

Being an entrepreneur, especially at an early stage start-up is way more work and hours than a regular 9-5. A common misconception is that entrepreneurs have time, and that's not exactly the case, some days you work 10-10. But that being said, it is quite liberating and I feel like the work I am doing is actually being valued and appreciated. 

Another thing is I think you really need to have a lot of self-belief because a lot of times, you will be faced with criticism by a lot of people, some constructive and some not. So you need to be really confident and critical in being able to take away the positives from people's criticism.

Louis Akataenger featured in a video showcasing University of Birmingham entrepreneurs produced by BAFTA award winning videographers Oliver Walton and John Ruddy.

What is the biggest takeaway for starting a business?

This path is just a constant learning experience. Being an entrepreneur is by no means easy, in fact, it is a lot of work, and you also don't really make that much money at the start either. However, I believe that it is arguably the most liberating and rewarding path you could take. And you wake up most days excited to go to work because you actually love what you do and feel like you are making a difference.

Launch!

Maringo has launched its landing page, where you can find more information about the project, join our early access waitlist and support us. We are currently on our development sprint to our early access release and start onboarding the first testers and users. To keep up to date with our progress visit our website or you can follow us on Instagram. 

After graduating in 2022, Louis Akaatenger will be joining the UoB Elevate programme at The Exchange from September 2022. 

With thanks to Louis Akaatenger
Introduced by Bob Lee