Cloud start-up creates video tool targeted at SMEs

8 Feb 2012

Abhinav Chugh, founder and CEO, VideoCrisp, a new cloud-based venture that's based at NovaUCD

NovaUCD has been in the spotlight this week, as it is expecting 300 jobs to be created from start-ups based at the centre over the next two years. VideoCrisp is the latest early-stage venture at the incubation centre to reveal tech innovations it is pioneering. The one-year-old start-up is developing a video-creation and editing tool targeted at SMEs.

The cloud-based digital software company was only set up last year by Abhinav Chugh. He’s also behind the start-up Waybiz, an Enterprise Ireland-funded B2B portal that was established in 2010.

Chugh himself has extensive experience in tech start-ups, IT and online product development. He previously worked with large multinationals such as O2 Ireland, T-Mobile UK, Bell Canada and LVMH Japan.

Via VideoCrisp, Chugh is pioneering a video creation and editing tool, targeted at SMEs and marketing professionals. The product will be launched in March.

Speaking this morning, Chugh said the company would be targeting start-ups and SMEs with its new video-creation technology.

He said the VideoCrisp tool would allow businesses to create new videos or edit existing videos more cost effectively and to help them drive their sales and marketing agendas.

VideoCrisp is currently participating in the Enterprise Platform Programme at the Synergy Centre, which is based at Institute of Technology, Tallaght. To date, it has raised €100,000 in early-stage funding, including €50,000 from Enterprise Ireland’s Competitive Start Fund.

Chugh also indicated today that VideoCrisp will be announcing details of what he termed “cutting-edge technique that will be the first of its kind in the cloud-based video-editing industry”.

“This new editing technique will empower end users with amazing video editing capability on both web and mobile,” he said.

eMarketer has predicted that online video advertising spending will jump by 40pc to reach US$3.1bn in 2012. YouTube also recently announced that more than 4bn videos are viewed on its website every day, with 60 hours of new video content uploaded on the site every minute.

Carmel Doyle was a long-time reporter with Silicon Republic