troyteq www.VicinitySystem s.com Galileo Masters 2013 troyteq Galileo Masters 2013 launch Galileo Masters - The 2012 Competition. - Con Costello
troyteq
www.VicinitySystems.com
Galileo Masters 2013
troyteq
Galileo Masters 2013 launch
Galileo Masters-
The 2012 Competition.
-Con Costello
troyteq
www.VicinitySystems.com
Galileo Masters 2013
summary
winner of 2012 Galileo Masters regional competition
Next 10 minutes:
1. our experience
2. our technology idea
3. what have we been up to since
troyteq
www.VicinitySystems.com
Galileo Masters 2013
our competition experience
• very positive - has really helped
• support from National Space Centre has been excellent
• Office space, marketing support, business plan, investment advice
• NSC Mentorship – excellent insight & network of contacts
troyteq
www.VicinitySystems.com
Galileo Masters 2013
our idea - electric vehicle range extension
It’s generally accepted that Electric Cars will dominate consumer transport long term
• fuel prices continue to rise
• EV’s the most promising technology path away from oil
• Problem: Poor driving range
Source IEA 2012
troyteq
www.VicinitySystems.com
Galileo Masters 2013
the solution: the connected car
Internet connected cars are emerging
- Satcom- 4G Mobile
A Tablet PC on the dashboard
•Live system updates
•Linux Based operating Systems (android)
•On-board Diagnostics
•Touch Screen control
•Remote charging control
•Integrated Entertainment
•Remote start & heat
•Web Access
troyteq
www.VicinitySystems.com
Galileo Masters 2013
our idea
No problem dear, plenty of
juice left…
?
• A new form of SatNav which predicts “the most efficient driving route”
• We analyse geography to predict the power which will be used by each route. E.g. By climbing a hill, traversing traffic, etc.
• We deliver a route prediction to the car SatNav, or any mobile device
2012 Winner
troyteq
www.VicinitySystems.com
Galileo Masters 2013
another potential market … HGV’s
• road haulage companies
• fuel represents 39% annual cost
• we will develop ‘eco-routing’ SatNav for HGV’s.
troyteq
www.VicinitySystems.com
Galileo Masters 2013
• OEM vehicle manufacturers who wish to increase sales
• Existing navigation providers who wish to join the EV market
• Emerging navigation providers seeking a differentiator
… our customer (B2B)
troyteq
www.VicinitySystems.com
Galileo Masters 2013
What has happened since the competition?
Since November…
troyteq
www.VicinitySystems.com
Galileo Masters 2013
we registered as a business …
• trading name / limited company
• trademark registration
• Domain name
troyteq
www.VicinitySystems.com
Galileo Masters 2013
… and wrote a patent
• innovative, novel, inventive step
• not already known to the world
… talk to the Patent Office
Important:Never release information which would permit a ‘skilled practitioner’ build the invention.
troyteq
www.VicinitySystems.com
Galileo Masters 2013
… we became investor ready
Business plan:
• company objective • explain the technology• show an experienced team• explain the market• show the commercial opportunity• provide revenue forecasts• demonstrate funding required
troyteq
www.VicinitySystems.com
Galileo Masters 2013
… registered as Enterprise Ireland client registration
•€1m+ revenue & 10 jobs in 3-4 years (hpsu)
•Feasibility grants, Innovation vouchers
•will typically invest 50:50 with another VC
•Various research & development supports
troyteq
www.VicinitySystems.com
Galileo Masters 2013
… currently engaging with VC
Careful selection of VC partners:
•firms with a history in geo-tech
•history of seed investment
•companies within “reach”
troyteq
www.VicinitySystems.com
Galileo Masters 2013
… competition tips
Focus on:-
• “Need to have” products rather than “nice to have” products
• Solutions to huge business or social “problems”
You must be able to:
• Explain it to your granny in less than a minute
• list who you will sell to, and how many of these people there are
• why they will buy it, how much they would pay !