Proof of Usefulness Report

Essence Tech Labs

Analysis completed on 2/19/2026

+257
Proof of Usefulness Score
Gaining Momentum

The submission describes 'Essence Tech Labs', a verified Canadian software agency with ~10-50 employees and probable annual revenue in the $1M-$3M range (aligning with the submitted '2.5M marketcap' if interpreted as cumulative revenue). However, the project name 'MysticWalker' appears to be a mislabeling (possibly a specific student project or product), while the description provided is for the agency itself. The evaluation focuses on the agency's verified traction. The score is penalized for hyperbolic claims (reach: 'everyone', traction: 'most people have used my product') and submission inconsistencies, but bolstered by verifiable business existence and headcount.

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Score Breakdown

Real World Utility+120
Audience Reach Impact+10
Technical Innovation+36
Evidence Of Traction+100
Market Timing Relevance+50
Functional Completeness+5
Subtotal+321
Usefulness Multiplierx0.80
Final Score+257

Project Details

Project URL
essencetechlabs.ca
Description
Essence Tech Labs is a team of extremely passionate and creative designers, developers, and testers. We strongly believe in a culture of developing your passion indulge in your career. We have developers who can bring tech into your ideas. We owe our success to our highly experienced software developers, UI/UX design experts, and web developers, who are committed to creating world-class products. Expertise: Custom Software Development, Mobile Application Development, Web Application Development, Web Development, Android Application Development, iOS Application Development, UI/UX Design, Offshore Software Development, IoT Solutions, IT Strategy Consulting, and Creative Marketing.

Algorithm Insights

Market Position
Growing utility with room for optimization
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline