Questions & Answers
Who are our competitors?
The ground support industry has seen little innovation. Therefore there is a great opportunity for a first mover. Of the innovations that do exist, most focus on ergonomics (JBT's Rampsnake or NMC-Wollard's Mongoose) and have produced systems that are too complex and expensive for widespread adoption. Other competition comes from asset tracking systems like ID Systems or others used in the logistics industry. We bring together the data structure of an asset tracking with critical information from our patented collision avoidance sensors system.
How will we make money?
We sell a bolt on unit that installs the sensors onto existing vehicles for an upfront purchase. Then we offer a subscription for product upgrades, support, and the data management system.
Why is our team awesome?
In addition having hands on experience from working at airports, our founder has a strong engineering background and business training from MIT Sloan. Our technical team has over 15 years of programming and developing sensor systems. We are supported by an adviser who retired as the VP of Operations at Delta Airlines with over 40 years operations experience and can open any industry door. We have another adviser who has successfully started and run a consulting firm for over 25 years and knows the day to day of running a business.
How much are you raising? How will it be used?
We are raising $150K to put our product in hands of airlines and in use at airports. We conduct testing for survival in the harsh airport conditions (weather, "toughness" etc.), and build out the report system. This will take us to our pilot project with a major airline (currently in talks) and getting the product live in the market in a live setting.
Why is this important?
The airline industry has a strong focus on two areas, safety and improving their bottom line. Our product addresses both of these.
How do you think about market size?
For cost saving implementations airlines desire a 1 year payback period. Given this, installing our product onto existing vehicles represents a $2Bn market opportunity. Our immediately available market is with three vehicles that load cargo, belt loaders, cargo loaders and catering trucks. These vehicles represent a $500Mn in potential revenue, or given a 5 year life cycle (9% discount rate) $125Mn/Yr in revenue. Expanding into the remaining vehicles represents $530Mn/Yr and from there we will include licensing on new vehicles and other transportation markets.