The Bollywood workout
Minal Mehta, MBA 2011
Executive Summary: BollyX®, Inc. is the world's leading and fastest-growing Bollywood fitness company,
building a vibrant community of certified fitness instructors and class participants to
celebrate active living and combat the global obesity epidemic. Launched as a
Delaware C corporation in 2013 by Shahil Patel and Minal Mehta, BollyX is the
product of their expertise in Bollywood dance choreography and background in
BollyX is in the business of training and certifying fitness professionals, in-person
and online, to teach the BollyX Bollywood Workout. A BollyX workout entails a 50-
minute cardio class that incorporates Bollywood dance moves and high intensity
interval training; one class burns 500-800 calories. As a licensing program with a
monthly subscription fee, BollyX provides instructors with training videos, class
content, marketing resources, employment opportunities, and community forums
through a best-in-class e-learning platform. Additionally, BollyX merchandises
branded apparel and accessories for instructors and class participants
In 12 months, BollyX has trained 300+ fitness instructors across 20 US states and
reached 50,000+ class participants. BollyX classes are now in 100+ fitness facilities,
from large national chains and franchises to boutique gyms, high profile corporations
and universities (including Harvard). In 2015, BollyX is invited to be a headline
presenter at the world's largest fitness convention, IDEA World, an opportunity rarely
extended to new fitness companies. BollyX has attracted media coverage from ABC
News, Headline News, and NPR.
With a scalable training platform, innovative fitness curriculum, and proven
management team, BollyX is building the world's first large-scale and globally
recognized Bollywood fitness brand. In 2015, BollyX will train 1,200 more fitness
instructors, scale up its online training program, and partner with major national gym
chains to expand the reach of BollyX classes. BollyX is not pre-revenue and has
raised $750K seed from media/entertainment, fitness, and merchandising experts.
Revolutionizing fashion retail in Africa
Ori Gbadebo-Smith, MBA 2013
Simone Bartlett, MBA 2013
Eve & Tribe
Eve & Tribe is an indigenous social-commerce fashion brand, specializing in apparel, accessories and lifestyle products for the contemporary African woman. The company was founded in 2013 by two Harvard Business School graduates and a high-profile design team, whose vision it was to build Africa's largest and most influential fashion brand; a brand that uses technology as its distribution accelerator, and creates economic opportunities for fashion entrepreneurs along the way.
When most people think about the African woman and her 'fashion,' they often think of very traditional and often cliché prints and fabrics. Today's contemporary African woman is however savvier, more exposed and more economically empowered than any other time in her history. Despite this, she is still severely underserved. No indigenous or global brands exist that that cater to her specific tastes, body-type, lifestyle or preferences. The result is the $19 billion being spent overseas per annum on brands that fall shy of her mark; $19 billion of lost re-investment dollars that should be spent on economic, and employment opportunities on the continent.
Enter Eve & Tribe! E&T's business model leverages a three-pronged, omnichannel distribution strategy that combines the best of direct-sales, ecommerce, and physical retail merchandising (show-rooms). Where the interplay between e-commerce and physical showrooms ("online-offline") is proven and familiar, our technology enabled direct-sales platform is at the center of our innovation, and method of impact. Through this channel, E&T first recruits, trains, and tools underemployed women, empowers them as independent sellers with personalized clones of our e-commerce site, and affords them products and catalogues as complementary sales tools. Through direct sales, E&T has the potential to penetrate Africa's deep mass-market as no brand has, through low-cost, personalized network sales, whose objective is to drive acquired customers back to our e-commerce and brick & mortar channels.
Since launch (Jan 2014), Eve & Tribe has enjoyed tremendous successes. E&T designed, manufactured and sold 12,000 unit, generating revenues of ~$240,000 across Nigeria, Cote d'Ivoire + Senegal. It proved its product efficacy (or award-winning design team's efficacy), its price points, and sold through 100% of its first three collections. Most impressively, it achieved this with near zero dollars spent on marketing given financial resource constraints (launched with seed funding of $350K). E&T is based in Lagos, Nigeria, operates with a team of 15 individuals, has supply chains across Nigeria and China, and an Advisory board that includes the current CEO of Ringier Africa (one of Africa's largest Media Companies) and the former Chairman of Laura Ashley. Most recently, E&T was cited in Vogue.com as a Top-5 African Brand by Chimamanda Adichie, one of the Continent's leading contemporary novelists.
At Eve & Tribe we have set out to not only build Africa's largest fashion brand, but also to empower Africa's next generation of female entrepreneurs. #JOINTHETRIBE.
Get your back office moving
Matt Bernstein, MBA 1993
HubTran is tackling the settlement process in trucking and logistics.
While freight transportation is an immense industry, back‐office operations have not advanced due to the fragmented, many‐to‐many nature of this industry. Every day hundreds of thousands of truckers, transportation brokers, factoring companies, freight payment firms and shippers collaborate and transact relying on phone, fax, email, and mail. With over a billion transactions per year, these manual processes are incredibly high cost and create error, delay and frustration.
The few automation options available are traditional, customized software installations that only the largest companies can afford to build and integrate. And these investments do nothing to improve connectivity with trading partners, which is critical in a transaction‐intensive industry like transportation.
HubTran's SaaS platform dramatically simplifies transportation payables, receivables and document management. HubTran's easy‐to‐use, transportation‐specific tools help companies of any size automate and streamline back office operations. Even more importantly, HubTran's portal and push messaging update customers' trading partners and provide a platform for companies to transact and communicate effectively. In effect, HubTran integrates trading partners within specific ecosystems (e.g., carriers‐brokers‐factoring companies in US for‐hire, class‐8 trucking). And while HubTran creates strong network benefits, HubTran sales are based on the value proposition inside a customer's four walls (i.e., success isn't contingent upon future network effects).
HubTran deployed to initial beta customers earlier this year and word of mouth is already starting to spread. Because HubTran is pre‐integrated with the leading transportation management and accounting systems, it is plug‐and‐play, enabling customers to realize efficiency benefits on day‐one. And HubTran charges just $0.25 per transaction, removing risk from customers' decisions to trial and adopt. Most importantly, HubTran provides high‐tech engineering for a low‐tech market – highly intuitive, easy to use software that handles ridiculously complicated transactions.
Looking ahead, HubTran will become the system of record for freight transactions worldwide. HubTran will have real time data on freight movement, costs and payment patterns with connectivity to transportation companies and their drivers… Incredible assets that can support follow on opportunities in areas such as analytics, factoring, spot markets, and futures. But our immediate focus is practical. We have eight employees and have self‐financed $500K to date. We are raising $1.2MM in April in order to continue product investment and support sales growth. 2015 will see the addition of 100 fanatical customers that love HubTran and will recommend HubTran to their peers, customers and suppliers.
HubTran. Get your back office moving.
Turning the dream of parenthood into a reality
Alexandra Dickson, MBA 2013
INFERTILITY—HIGH UNMET NEED
Despite the high prevalence of infertility (15% of couples), success rates of in vitro fertilization (IVF) have stagnated at 30% a cycle. The main reason for the low success is that the majority of embryos that humans produce are inviable, and there are no good ways to select the best embryo to implant back into the patient. Currently, an embryologist selects which embryos to implant by using subjective criteria to choose embryos that "look normal," which is not an adequate indicator of health. As a result, success rates vary widely and the majority of embryos implanted via IVF do not create a baby. This leads to patients undergoing multiple cycles of IVF at significant financial and emotional cost.
LuminOva aims to increase the success rates of IVF by providing an objective assessment of egg and embryo quality. LuminOva has leveraged discoveries from the Needleman lab at Harvard to create an optical device that can safely take an image of a living egg or embryo. That image non-‐invasively captures quantitative information about metabolic and morphologic features that are currently invisible. These features are strongly linked to the viability of the cell and can be incorporated into a software algorithm of embryo/egg viability. Our hope is that the LuminOva device can be used to select the most viable embryo to implant, increasing IVF success rates.
- Alexandra Dickson: Harvard MBA with consulting and biotechnology background
- Dan Needleman, PhD: Harvard Associate Professor in Applied Physics
- Tim Sanchez, PhD: International winner for research in biological physics
- Manqi Deng, PhD: Over 20 years experience in reproductive biology
LuminOva has begun preclinical studies and product development for the technology, and has received non-‐dilutive grant funding. LuminOva expects to launch its first commercial product in 2019.
Saving millions of immigrants billions in money transfer fees
Tom Meredith, MBA 1985
"Send Cash Home Free!"
P2P Cash is a "Free" Western Union, delivering free global, mobile money transfers using patent-pending digital currency. With MasterCard, P2P guarantees secure money transfer to over 1.2 billion mobile accounts globally at no cost to the consumer. P2P Cash monetizes this free service, buying foreign currency at interbank rates and delivering at retail rates, grossing ~1.5% on each transaction.
Problem: Money transfer is expensive and difficult to deliver in developing countries, particularly in rural areas.
Solution: P2P Cash delivers cash directly to bank and mobile accounts for FREE. With key strategic partners, MasterCard and SWIFT, P2P's patent-pending digital currency Instant Money Tokens (IMT) delivers cash to over 1.2 Billion Mobile Wallets and 2 billion bank accounts worldwide at no cost.
Revenue Model: P2P derives revenue from the foreign exchange (FX) differential between retail and wholesale FX rates. P2P purchases the delivery currency at wholesale bank rates; buying in bulk with its bank partners. The recipient receives their currency at the same "retail" rate as competing money transfer services.
Future Revenue from Big Data: P2P will market new financial services (microfinance/ insurance) to its large global database of mobile wallets created by Free Money Transfer.
Competitive Advantages: All P2P competitors charge fees; ONLY P2P offers Free Money Transfer. P2P's IMT digital currency creates significant pricing advantages. Global MasterCard contract enables direct deposit into 1.2 BILLION mobile wallets adding tremendous recipient convenience.
Exit Strategy: MasterCard values P2P's token technology as evidenced by our global MasterCard contract. They are a natural potential acquirer. VISA and every major global bank are potential competing acquirers.
A social business solving the work-readiness crisis that students and organizations face through an innovative model developed at HBS
Shveta Raina, MBA 2013
"Talerang enabled me to realize my own dreams and empowered me to achieve them."
‐ Rahul Prajapat, student at IIT Bombay
"The programme got him equipped with the overall finishing a student requires before he joins work. In this area he has excelled.He is slowly conquering his fear over public speaking and is developing the confidence to share his ideas."
‐ Sanjay Sharma, father of Yash Sharma, student at HR College, Bombay
"Niraj is a quick learner, has a sharp mind and a positive attitude."
-Shailesh Deshpande (Godrej Group) on Niraj Chitnis (St. Xavier's College)
Solving a real need: Talerang is redefining and revolutionising the work‐readiness industry through a unique transformation model that was developed as an independent project at Harvard Business School. ~ 60% of students at top colleges in India don't feel ready to enter the work world and organizations are also unhappy with entry‐level talent, leading them to focus on MBA hiring.
First‐hand research with students and organisations identified 6 areas to tackle the crisis. Self‐awareness and self‐belief, life vision, communication, working smart (time management, problem solving and ethics), first impressions (grooming and etiquette) and the final transition (resume, interviewing skills, excel, powerpoint and the ability to build connections).
Our vision is to impact 200 million college graduates in India by 2020.
No current solutions offer a premium, end to end college to corporate transition for college graduates. Current job‐site offerings are focused on quantity v/s qualty. At Talerang, we have created a curated
marketplace for employers and job seekers, and we work with both students and organisations to bridge the gap. Students undergo learning modules that bridge the work‐readiness gap for them in stages, preparing them uniquely for the work world.
Students undergo a proprietary work‐readiness assessment and 360 test designed for college students. Organisations are provided with a premium platform for quality talent matching their skill requirements.
We will be the only provider to provide solutions in regional languages, enabling access to tier‐III cities.
Scalable model: We have developed a blended and omni‐channel platform of delivery (with both online and in‐person component). As we scale, our focus will be on scaling the online platform resulting in a 90:10 online:offline split, compared to the current 50:50. We project this scaling to 20 million students by 2020 (still <5% of the Gen Z population in India). While this is currently an India focused business it has potential to scale to other regions easily – especially Africa and China where work‐ readiness is an equally big issue.
Demonstrated impact in Year 1:
- ~2,000 people trained across platforms
- 90% ratings from students , significantly higher than the 70‐72% industry average
- 100% of our students are rated work‐ready by companies
- We have partnered with over 50 organisations
- We have received media recognition by Times of India, The Education Times, The Economist
- Intelligence Unit Report, The Smart Manager, The US Consulate (Mumbai) amongst others.
Empowering women to power the world
Lionel Bony, MBA 2006
Deborah Kim, MBA 2006
Every night, 1.3 billion people go without access to electricity. But nobody wants to live in the dark, so most of these families light their homes with dangerous energy sources like kerosene and candles. And while you can imagine what this means for their health and safety, what you may not know is what it costs them. Today, the poorest people in the world are spending up to 22% of their income on energy sources like kerosene. And it's not as if there aren't cheaper options. The real challenge in lighting up developing countries is that you need to go the "last mile" - which means distributing products to customers in remote areas and collecting payments in a simple and reliable way. These are two challenges we've solved at Empower Generation.
We've found women are the key to distribution. In countries like Nepal women suffer the most from energy poverty. They're the ones collecting fuels and burning them indoors - and so they're ideal to benefit from a transition to clean energy. To date, we've trained nine women entrepreneurs to build their businesses, hire and manage salespeople, and bring solar systems to 12,000 customers across Nepal. The systems our entrepreneurs sell are built using commodity hardware, all of which we source from high-quality, low-cost suppliers. And we're able to sell these systems for less than our customers are paying today. For example, our basic package which includes solar panels, batteries, and LED lights - can be financed by our customers and purchased for just $10/month over 12 months. Starting this year, our customers will also be able to make monthly payments for their solar home systems by sending us a text. And because our systems talk to one another, we can lock and unlock any of them centrally based on payment status.
The social and economic opportunity here is huge. And we're ready to capitalize on it. In Nepal, our first market, there are currently 3.4m rural households without access to the grid. Which means that, at $10/month, we see a $400 million annual opportunity. When we look at our next market, Myanmar - which has a much larger rural population - that opportunity grows to $1.3 billion. You can imagine how big the market could be across all of emerging Asia. We believe we can scale our model from country to country because of three key factors:
- We know how to build self-sustaining women-led sales networks
- We make mobile payments frictionless for our customers with a pay-as-you-go system
- We can manage all of our systems centrally
It's amazing how quickly technology can spread in the developing world when it's delivered the right way. And so, just as mobile technology has reached almost every corner of the world, we believe that within a decade, these same communities will power their homes with solar technology. This is the future we're building.
FUNDING TO DATE
No equity has been raised so far by Empower Generation.
Faster rehydration, faster relief
Gustavo Souss, MBA 2008
Fast ReHydration Limited
Fast Rehydration is a biotech start up that has developed and patented a breakthrough technology for all types of dehydrations. Based on the multiple potential uses of this new technology, this innovative startup could represent a multimillion-dollar business with great social impact.
Nowadays dehydration is treated through a mix of salty ingredients and glucose to help increase the water absorption and restore balance. The more salty ingredients, the more water absorption there is. There are no patents, no secret formulas, and no magic ingredients for rehydration, but there is a caveat: the more salty ingredients in a product, the worse the taste, -and adding more sugar won't improve it.
At Fast Rehydration, we overcame that obstacle by encapsulating the salty ingredients into nano-particles with three important benefits: better palatability, higher absorption, and faster rehydration. The development is endorsed with FDA registration, a pre-clinical trial and a product that has successfully gone through blind testing.
We plan to launch "Hydrolyte", our first product, targeted at children that are at high risk of dehydration resulting from stomach bugs. It's a U$S170 million dollar-market in the US, and we will capture a 30% market share within five years at 70% gross margin through our unique pediatricians campaign. On the social side, Hydrolyte can help UNICEF with the more than 50 millions treatments they donate every year in an attempt to prevent 1.5 million child death resulting from dehydration due to diarrhea.
On top of Hydrolyte, we are testing a drink for hypotonic dehydration within the $6 billion dollar sport drink market. Our sport drinks are highly acclaimed by athletes in tennis, NBA, UFC and even the military.
Through our innovative platform we have identified, and in some cases already advanced, more than 14 new products, many of them for new patents: from developments for diabetics to drinks with probiotics.
Our goal is to grow Fast Rehydration into a $100 million dollar business company in five years through the exploitation of Hydrolyte worldwide, a concentrated or powder line extension for a low cost solution for developing countries, and a hypotonic product for endurance athlete in the sport drink category.
While licensing the technology can certainly be attractive to many players (from Coke for Powerade to Abbott for Pedialyte), develop successful in-market products significantly increases the company valuation. Additionally, pharma companies are always eager to acquire new products and particularly technological platforms, and the multiples for biotech companies easily exceed 5x revenues. Last, but not least, there are small successful IPO's for biotech companies in less advanced stages than ours.
If you are thirsty for a great investment... with high social impact... don´t look any further.... Fast Rehydration ...is the perfect choice.
Brain rehabilitation, for everyone who needs it, everywhere
Son Preminger, MBA 1999
The need and market
Hundreds of millions of people are left out of our society due to brain dysfunctions caused by brain injury, mental and neurodegenerative disease. These impairments limit the ability for normal and independent living. The treatment and care of these people cost hundreds of billions of dollars per year.
Current brain rehabilitation relies on one-on-one therapy sessions that use outdated training tools. Due to the high cost of these sessions, patients receive only a few months of rehabilitation, after which they are left at home without any therapy. This leads to limited recovery and even deterioration.
Existing cognitive training software are not suitable for people with brain disorders as they do not adapt dynamically to the needs of the specific person, and they often do not result in daily-life improvement.
Intendu developed software that revolutionizes the treatment of people with brain dysfunctions, delivering an effective, accessible and affordable brain training solution.
The Intendu brain training software is based on videogames that are designed specifically for brain training. The solution is grounded on key principles derived from scientific research. The patient plays a fun game, interacting with characters and using natural body gestures. We train the brain with natural experiences, to achieve transfer of benefits to real life. The games react and adjust to patient's needs in realtime. The solution uses real-time feedback from an off-the-shelf video camera to enable whole-body interaction and real-time adaptation of the training games. A patent-pending cognitive engine, at the heart of our solution decides at every moment, based on patient's actions and history, what is the best way to stimulate the patient's brain to achieve his rehabilitation goals.
Current status and execution plan highlights
We are training patients in pilots at leading Israeli rehabilitation institutions with very positive feedback from clinicians and patients. We are in conversation with top US rehabilitation hospitals that that tried our beta product and expressed their desire to work with the Intendu's solution. We also started clinical trial to quantify the effectiveness of the training. Intendu's first commercial product will be launched in Q3 2015.
Our product will be delivered as a software service to hospitals, clinics as well as to people with brain dysfunction at home their home environment.
Intendu is supported private investors, many of which are social impact investors. Last year our company was selected to participate in the Microsoft Accelerator.
Intendu has recruited key opinion leaders to its Scientific Advisory Board, including Nathan Zasler, the head of the International Brain Injury Association.
Dr. Son Preminger
, Founder and CEO, is a neuroscientist with 13 years experience in the cognitive training and rehabilitation space, broad experience in the software industry in product management, business development and R&D positions. Holds Phd in Neureoscience and an MSc in computer science.
Dr. Barak Blumenfeld
, co-founder and CTO, is an expert in machine learning algorithms and data analysis. He has a PhD in neuroscience and computer science and led development of optimization software products.
, our executive chairman, is a successful entrepreneur who founded and headed a healthcare company serving over 18 thousand hospitals and clinics worldwide.
, VP Development, has 10 years of experience in leading development of web and cloud products, including gaming and health applications.
Big Data Predictive Analytics:
10X better ship tracking and predictive analytics helps customers make money, save lives, guard borders, and protect the environment
Eric Meger, MBA 1984
Maerospace enables maritime authorities, fleet owners and logistics companies to track all large ships anywhere in the world with 5-10 times the accuracy of current systems. Our patent-pending predictive analytics services fix the inherent delays and incompleteness of existing, satellitebased data sources.
Our first offering, TimeCaster, delivers accurate current and near future positions every 10 minutes for over 120,000 vessels. By accurately predicting behavior, it can alert customers (via email or SMS) to unexpected behavior faster and more accurately than any other system:
- Predicted entry into restricted area even if AIS is turned off
- Automatic detection of Doppelgangers (different ships transmitting the same identity)
- Detection and tracking of Dark Targets
- Ability to continue to track original vessel's movements after they start to spoof their position
- Detect changes of destination - aids in predicting both commodity and transportation rates
The total addressable market across 6 defined segments is estimated at $2.3B per year.
Maerospace has made considerable progress: our system is fully functional and easily customizable; we have won our first 6-figure government procurement with other proposals pending; and seven partners have signed agreements with us or are in negotiations.
The company founder is one of the world's leading experts in satellite ship tracking and has won awards for his expertise in strategic alliances. Each management team member has more than 25 years' experience.
Recurring revenue projections call for growth to $46M over 5 years, reaching profitability in year 3. Scalability of service delivery and leverage of partnerships to grow sales enables profits of $10M in year five. Investor exit opportunities include sale of the company or individual business units or a possible public listing to provide liquidity.
The company seeks $3M in Series-A funding.
Raywon Nano-Science Inc.
The 3M in nano-material field
Mike Liu, MBA 2014
Raywon Nano-Science Inc.
Overview: Raywon is an advanced materials company that focus on providing patented nanoscale materials for various industries. Our technologies can change people's daily life in many ways. For example, we provide proprietary energy absorbing materials for industries where impact safety is a concern, such as automobile, sports protective gear, military and defence, and electronics protection. Our other technologies include the world's only low-grade heat recovery system, anti-corrosion coating, and 3D self-assmble flexible semiconductor. Most of our technologies are based on 10+ years of research on nano-material field of our technical founder
Technical founder: Xi Chen, Columbia University tenue professor, Harvard Solid Mechanics PhD, Presidential Early Career Award for Scientists and Engineers (PECASE) recipient, NSF CAREER Award recipient, Sia-Nemat Nasser Early Career Award recipient, Yound Investigator Medal, SES, Thomas J.R. Young Investigator Award, ASME
Business founder: Mike Liu, HBS 2014, previous startup experience in California, Ex- Mckinsey
Nano-sorb: The first industry we are going to penetrate is the sports protectionindustry. The product lines include helmet for American football, ice hockey, lacrosse, motorcycle, race car; running shoes, and other protection gears like knee pads and shoulder pads. The total addressable market size in sports is ~$ 243mm （US market only) The second industry we are going to tackle is the automobile industry. We will first focus on the protection of battery set of electric car (i.e. Tesla) as entry angle, then project into traditional car's market to improve their impact safety. Market size for this industry is ~$355 mm (US market only). In addition to these two industry, Nano-sorb can be used in many other industries, such as military and defense, telecom, logistic, construction, electronics, and medical equipment. The total market size for Nano-sorb is ~$840 mm (US market only)
low-grade heat recovery. Using similar nano-porous proprietary material, we can harvest and transform thermal energy into electrical energy directly, a technology that the world has never seen before. We have completed the lab scale testing, and currently looking for strategic partners to do a mid-scale pilot project (~50 kW). The estimated market in US alone is $2 trillion a year
Jan, 2015: Received $1.5 mm angel funding from two prominent angel investors in China -
Feb, 2015: Started our pilot project with Sinopec, using our products in their Sichuan gas field -
Feb, 2015: Established strategic partnership with SABIC, one of the world's largest chemical companies to evaluate the possibility to use our products in their manufacturing plants
Your personal parking assistant
Omri Shafran, OPM 43
Omri Shafran- CEO & Founder
Ofir Sharon – CoFounder/
VP of Development
Roy Daya– CTO
Angela Eubanks – CFO Megan Bentley – VP of Sales
Industry: Facilities Services
Number of Employees: 9
Financing Sought: $10M
Use of Funds: Our funds will be utilized for continued research and development, purchasing inventory and marketing efforts.
Mission: SureSpot is revolutionizing the smart-parking market with a best-of-breed, comprehensive parking solution, enabling the capture of big, live data. The utilization of license plate recognition technology and mobile monitoring and payment features grants the ability to know who is in a parking facility and when they are there. A comprehensive offering of hardware, parking management software and mobile application automates any
off-street or on-street parking facility efficiently and at its maximum capacity, while capturing names, zip codes, gender, make/model of vehicles and coupon redemptions to better understand motorist demographic. This in turn, generates new revenue opportunities to complement the parking facility's business model and brand, while providing the ultimate parking experience for the motorist. SureSpot: Your Personal Parking Assistant
Business Description: SureSpot's smart parking system offers an automated guidance solution, which allows motorists to pre-book their exact parking space within a parking facility and offers superior inventory control and back-end parking management solutions for owners/operators. With an offering of hardware, parking management software and smartphone application, SureSpot can validate who is in a parking facility and when they are there. This relates to both on and off street parking scenarios. This is a valuable tool for owners/operators/municipalities in regards to security, accurate financial reporting, over-stay parking violators and facility occupancy/vacancy availabilities, while also offering the opportunity to delineate payment services by specific spaces or sell VIP spaces to the highest bidders.
For example, a motorist pre-books an exact parking space within a parking garage with the SureSpot Smartphone Application (receives a QR code), the SureSpot website (prints a paper ticket with barcode or is emailed a QR code) or directly from the parking garage company website (prints a paper ticket with barcode or is emailed a QR code). The motorist then pulls into a SureSpot parking facility and presses the touch-screen Park in Peace Entrance Terminal to dispense a parking ticket to meet their specific parking needs (handicap, expectant mother, VIP, etc.) or scans their pre-booked reservation QR code/barcode. Simultaneously, SureSpot's Park Protector License Plate Recognition Cameras are scanning the customer's vehicle license plate. The dispensed parking ticket reveals the exact parking space the motorist is to utilize. The ticket also includes local merchant coupons and promotions for the motorist to redeem while parked in the garage. The Park Patrol Gate Barrier now opens, allowing the motorist to enter the facility and drive to their assigned parking space. Upon parking, the Park Bot Spot Recognition Cameras (located above each parking space) capture live images and video of the vehicle and license plate, therefore verifying if the motorist parked in their assigned parking space. If the motorist fails to park in the assigned space, the SureSpot Management Software communicates the images and video from the Park Bot back to the Park in Peace Entrance Terminal. The previously assigned parking space is now deemed as vacant for the next motorist entering the parking facility.
When the motorist returns to the garage they can easily find their vehicle by referencing the parking space assignment printed on their ticket or by accessing the Pedestrian Navigation within the SureSpot smartphone application. Once in their vehicle, the motorist pulls up to the Pay to Pass Exit Terminal. An additional Park Protector License Plate Recognition Camera scans the license plate of the vehicle. The motorist makes a secure payment and the Park Patrol Gate Barrier opens, allowing the motorist to leave the parking garage. This is just one of the numerous scenarios, the SureSpot system offers with their robust collection of automated technologies to service every parking facility and their needs.
Revenue is based upon an industry-first, Pay Per Car model, meaning the parking facility owner/operator will pay SureSpot each time a vehicle enters the parking facility and SureSpot will maintain, service and manage the entire offering for the life of the five year contractual client agreement. Pay Per Car is determined with three calculations: Divide the total cost of the project by the number of months for SureSpot's return on investment. Multiply the number of parking spaces, daily turnover rate and parking days in the calendar year and divide this number by 12. Take the first calculation divided by the second, which will represent the fee for the Price Per Car revenue model.
The underlying value to SureSpot's solution, is the capture of BIG data in real time. The benefits are endless when considering the ability to sync with law enforcement to track criminal offenders, major car manufacturers to communicate ownership of used car sales, tow truck companies to charge over-stay parking violators, etc. Combined with the tracking of local merchant coupon redemptions (located on each ticket) to better understand the motorists buying motives, SureSpot isn't just a parking management company, but rather a collector of powerful, sellable data.
Company Background: SureSpot Inc. is a parking technology company and is being brought to market by an industry savvy, highly experienced and dedicated team. Omri Shafran, Founder/CEO, is an astute, well-seasoned business professional. He is also the CEO of Blue Bay Construction and of the Optimum Group, a real estate investment firm. Ofir Sharon (CoFounder/VP of Development) and Roy Daya (CTO) are all highly experienced in technology development. SureSpot has already established sales, marketing and technology support teams. SureSpot's founders have invested $350,000 of their own money into the research and development of the technology. SureSpot is currently seeking an investment of $10M for continued research and development, inventory purchases and marketing efforts.
SureSpot is actively running in Houston, TX parking facilities and has acquired a signed contract NRG Stadium (the nations 5th largest
stadium, host of the 2017 Super Bowl, 26,000+ parking spaces) and is in negotiations with other notable clients, such as Stanford
University, Chicago's United Center, Standard Parking and Park One.
Parking Facility Owner/Operator/Municipality Value Propositions:
1. Increases security by knowing who is in the parking facility and when they are there in real time
2. Ability to sync with local law enforcement for criminal offender alerts
3. Fully automated hardware, which eliminates cash-handling theft and decreases overhead by retiring labor force
4. Instantaneously shift parking rates based on demand, much like Uber
5. Reliable record of vehicle count for reconciliation of financial revenue reports
6. Eliminates lost revenue from overstay parking violators
7. Creates a new revenue opportunity by selling premium parking spaces (VIP, Expectant Mother, Family Parking, etc.)
8. Generates revenue from merchant coupon sales printed on every ticket while prolonging the motorist park time
9. Generates revenue from online reservations
10. Boosts parking facility website traffic enhancing SEO when offering reservation bookings.
11. Easily check the availability (occupancy and vacancy) and parking space history of each parking space in real time with SureSpot
12. Deplete the amount of traffic congestion within the parking facility
13. Fully customizable and flexible system to fit the needs of the facility
14. Offers a simple and outstanding parking experience for the motorist
15. Capture BIG, LIVE data: names, zip codes, gender, make/model of vehicles and coupon redemptions to better understand motorist demographic
16. SureSpot has the ability to be 100% GREEN if granted permission by the parking facility
Motorist Value Propositions:
1. Ability to pre-book/reserve an exact parking space within a parking facility
2. Ability to reserve premium/specialized parking spaces (handicapped, VIP, expectant mother, etc.)
3. Easy to use on-site, touchscreen terminals with 24/7 live video support
4. Know exactly which space to park the vehicle and eliminate the search for the vehicle upon returning
5. Redeem local merchant discounts within the area/venue of where you are parking
6. Effortless location detection of vehicle within parking facility
7. Peace of mind with safe and secure payment options
Technologies: SureSpot has already begun the process of establishing our brand as the perfect parking management solution for both parking facility owners/operators/municipalities and motorists. This is accomplished by manufacturing our own equipment, developing our own parking management software and by providing our own mobile reservation platform. We have patents pending for our parking technology and algorithm, which ensures the highest parking efficiency possible. Combined with exceptional client relationship management and superior customer service for the motorist, the SureSpot offering delivers an unparalleled parking experience.
Markets: Our primary target markets are operators and owners of paid parking facilities (including garages, surface lots, stadiums, amusement parks and airports) and municipalities. Our secondary target market includes parking facilities that are not commonly generating revenue for their parking structures and therefore converting the property so that it can do so, such as shopping malls or office and residential buildings. Based upon more than 40,000 parking facilities, the market size in the United States is worth $18B with a
growth rate of 3% annually. According to statistics from the National Parking Association (NPA) and the US Census Bureau, the top five states with parking facilities are California, New York, Texas, Florida and Illinois. These states include 50% of all parking facilities and generate more than 51% of the revenue in the United States. According to the NPA's 2013-2014 Parking in America Industry Rate Study found that "More than 40% of all survey respondents reported increased demand for parking services".
Distribution Channels: SureSpot will scale with direct face-to-face sales by utilizing their local account managers in the Houston and Chicago markets. Within the US markets, SureSpot will engage 5 local agents in 2015 to facilitate sales from A to Z for 5% of the monthly residual income, and has already signed a contract for the New England territory. Globally, SureSpot will scale in 2015 by
supporting 5 Distributors who will purchase the equipment at a 30% margin and pay 8 % of the residual income to SureSpot USA in return for technical and marketing support.
Competition: There is no direct competition, as no other parking services offers the features of SureSpot. We are the sole parking provider to offer equipment, software, mobile application and management of our offerings while directing motorists to their exact parking space. Our indirect competitors within the hardware/software vertical include SkiData Inc., Amano McGann Inc., Scheidt & Bachmann, and Digital Payment Technologies. Our indirect competitors within the mobile application platform include Parking Panda, Spot Hero and Park Jockey.