For this week, we are talking to Richelle Nicols, the founder of the digital ecosystem platform Nicco. A lawyer by profession, Richelle created Nicco with the vision of helping entertainment and sporting businesses generate new and significant revenue through its digital ecosystem and data asset creation solution, which she says provides meaningful and measurable global impact.
ISB: What inspired you to found Nicco?
RN: I started Nicco to help businesses truly understand their customers and engage in a way that makes them feel valued. My own experiences as a consumer made me curious – why was a major brand I’d been loyal to for over 15 years sending me car insurance ads, when I hadn’t owned a car in years? After researching, I realised that granular data could help predict customer behaviours and preferences across products, campaigns, language colours and tones, and more, with far greater accuracy. This insight drove my vision and led to developing MVPs with IBM Garage, which culminated in the Nicco Platform and its consumer-facing app.
ISB: Can you share how Nicco will help businesses in sport, entertainment and more understand their customers better?
RN: Nicco’s development is focused on unifying granular, fragmented data into a single platform, providing businesses with a detailed view of their customers, first at the micro level and then macro. For sports and entertainment, this means connecting various merchants, businesses, and organisations into one platform to create seamless fan engagement while capturing micro-level behaviours and preferences across all different types of transactions. This data builds highly detailed profiles that businesses can leverage to predict behaviours, personalise interactions, and tailor strategies. By enhancing personalisation, Nicco is focused on deepening customer loyalty and generating higher revenue, as well as making it adaptable across industries looking to strengthen customer relationships and boost engagement.
ISB: Coming from a law profession, what was the most challenging aspect of becoming an entrepreneur, and how did you overcome it?
RN: The lack of certainty and stability was the biggest challenge. In law, you’re trained to be risk-averse and methodical, taking time to analyse and mitigate risks. In a startup, the focus is on agility, quick decision-making, and being comfortable with the potential of failure. Shifting from a structured environment to the unpredictability of entrepreneurship required me to build a different mindset – embracing constant learning, surrounding myself with a diverse thinkers, and having to think laterally.
ISB: What is your vision for Nicco’s growth in the next couple of years?
RN: My vision for Nicco is to establish a strong global presence as a leader in customer-centric technology across multiple sectors, including sports, entertainment, retail, health, property, and tourism. We’re already developing opportunities in some of these industries and aim to build interconnected digital ecosystems that prioritise customer experience for each of them. Our immediate focus is solidifying our presence in the U.S. market, where we’ve been expanding for the past year – as well as continuing to work on the projects and opportunities we have in Australia. Our focus is on partnering with businesses that value understanding their customers deeply and to develop capabilities within our platform that support sustainable and ethical business practices for those businesses and Nicco as we continue to grow.
ISB: What is the most important lesson you’ve learned as an entrepreneur that others should take to heart as well?
RN: The most important lesson I’ve learned is the need for resilience and trusting your intuition. In a start-up, there are countless voices and advice – mostly well-meaning – but you must learn to tune into your own instincts and make decisions that align with your vision. Success is a marathon, not a sprint, and learning to trust yourself will guide you through.
