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Online: Danish designed electric micro mobility device for transportation of personnel at large working facilities – SPRINGBOARD®

  • 25 Jun 2020
  • 14:00 - 16:00
  • CONNECT Denmark, kl 14:00 til 16:00 pa online, mødeplatform
  • 16

Registration

  • Sidste tilmeldingsfrist er: Torsdag den 18. juni 2020
  • Sidste tilmeldingsfrist er: Torsdag den 18. juni 2020

Registration is closed


This SPRINGBOARD® will take place online

Fokus: forretningsudvikling

Punkter til sparring

- Sales strategy

- Business development

- Fundraising


Brancher: Elektrisk udstyr/elektronik

Udviklingsstadie: Proof of Concept

Region: Hovedstaden


The product is a smart three-wheel electric vehicle for relocation of employees at large working facilities (e.g. airports). It has 2 drive modes of 8 km/h and 20 km/h and is comprised of a swappable battery solution. The three-wheel design provides relentless stability, and the shift of the HMI found to the right of the device, gives easy boarding and deboarding to and from the device. The product is controlled by the thumb in an integrated movement controlling both speed and direction. The change of formfactor design, gives a seamless exchange in moving around, and the innovative design permits an escalator friendly solution, utilizing a pulling mode.

Currently testing with Munich and Copenhagen Airport, set to launch medio 2021.


Skills

Afsætning & Distributionskanaler

B2B

B2C

Distributionskanaler

Finansiering & Kapitalrejsning

Forretningsmodeller

Forretningsudvikling

Internationalisering

Marketing & Branding

Online marketing

Strategi og vækstplaner


This SPRINGBOARD® will be held in Danish / Dette SPRINGBOARD® vil blive afholdt på dansk

______________________________________________


Business model

The company will produce, sell and maintain fleets of micro mobility devices to large organizations and corporations with its flagship product. The retail price for their device will be 14,999 DKK and has an estimated manufacturing and assembly cost of 4,200 DKK.

The company license patents (1) and trademarks (1) from its strategic partner, Continental. The company will sell company safety and efficiency achieved with its heavy-duty vehicular device, to their beachhead market airports and ground handling services (GHS).

Go-to-market

The product will be sold and exhibited through the company’s online webshop.

Furthermore, the product will be marketed at relevant social media platforms to raise awareness of the product. The company will also contact each current network that the company has already acquired from the inter airport exhibition, to reach and close sales.

Additionally, we will collaborate with relevant industry contacts and traders to reach new markets.

Besides, the company will attend industry relevant exhibitions where it will acquire new relevant contacts and decisionmakers and executives and also find additional sales traders.

Customers and market potential

The company’s beachhead market is airports and ground handling services. Data on the ground handling service companies in Denmark is already available through CPH airport's website - there are 6 companies registered as handling companies. To give an estimate of the number in Europe, an extrapolation has been made on the basis of the number in Denmark. Based on the 6 companies with 3,395 employees serving 5.6 million Danes, it is estimated that there are 788 companies with 446,079 employees serving the entire population of the continent. With the estimation of 1 device/100th employee this gives us a total penetration of 4,460 devices. But the market is even bigger. The company’s top three follow-up markets totally employ 42.3 M people, giving a maximum potential of 3,172.500.000 DKK.

The market

With the product airport employees have the potential to significantly reduce the amount of time wasted every day on travelling between worksites. Research conducted by the company has shown that airport employees use up to 144 minutes of walking on a usual workday. With the product this can be reduced to 57 minutes, freeing up approx. 1.5 hours for qualified work. By car this same amount of travel would take 40 minutes, but the search for a parking spot & walking from the parking spot to the actual destination consumes additional time, thus in total the car will take a longer time than the product. As such, the company’s superior value proposition will enable employees working in larger spaces to travel from A to B in the most efficient, cost-effective, user-friendly, safest & CO2-friendly way. Based on the products competitive advantages & compared to prices of competing solutions (ranging from 5,000 to +100,000 DKK) the company can offer the product at a competitive price of 14,999DKK. The company’s current use case is based on ground handling services in airports. Airports globally employ 2.1M employees. In Denmark, CPH owns & operates most of the commercial airports in Denmark, employing around 3,395 people in GHS, & it can roughly be estimated that they cover the need for the DK population. Extrapolating this data to the EU market, we estimate that 446,079 employees work in the GHS’s in the EU. The company thus estimate a total addressable market(TAM) of 669M DKK (Based on the assumption of 1 product/5th employee for the company’s beachhead market only). With a strong cost-efficiency incentive & a safety-scoped value proposition, the company is able to target other large worksites with similar use-cases (e.g. hotels, larger production sites, malls, law enforcements, universities, warehouses, hospitals etc.), thus opening up an enormous TAM. As the company aim to be the leading professional employee mobility provider on the market, the company estimate to achieve a market share of 5% by 2026, with an accumulated revenue of 33,4M DKK 5-years post-market introduction. As the company already have strong incentives from its potential customers, (CPH-, Munich-, Frankfurt Airport & many more), have a strong strategic partnership with a larger corporation (Continental AG), have a patent-pending superior solution, offer clear competitive advantages for its customers & have a strong & skillful founding team, the company is confident in its ability to develop & launch their product successfully by the beginning of 2021.

Competitors

Micro mobility arena is experiencing an immense growth these years. Since the 2000’s the hardtech oriented micro mobility providers present in the European arena has experienced a growth of 1020% over the past 20 years. The past 2 years the industry, especially in the share services in the public arena, has seen a growing trend.

In an effort to bring some holistic clarity over the field of vehicle micro mobility, data from urbanmobilitydaily.com has been extracted and analyzed in order to bring an overview of the current competitive field. Out of the 3,057 mobility startups and companies registered in Europe, the most relevant has been extracted, resulting in 51 mobility companies and startup operating globally. These either focus on R&D, manufacturing and distribution, or are focused on the software-side of mobility as in Micro-mobility-as-a-service (MaaS).

As the largest actors on the market we find the Chinese, Xiaomi. They are currently present in 90 countries worldwide. Second on the list we find the American/Chinese NineBot, that are present in around 80 countries worldwide. Third on the list we find the old Swedish micro mobility manufacturer Helge Nyberg, who have been present since the late 70’s. They have a strong mechanical focus to corporate micro mobility and are currently present in 60 countries. Fourth on the list we find the German micro mobility provider StigoFleet, who despite their recent founding are actively present in 30 countries.

As previously stated, there are a lot of micro mobility providers on the market. From the study of more than 3000 micro mobility companies in Europe [20] [19], 51 companies were extracted, which the company has found a competitive resemblance to the product and could thus be viewed as current and potential future competitors, of these 51 companies only 13 had a focus on corporate mobility and relocation processes or a potential to migrate towards a corporate micro mobility offering, of which only 2 had a strong corporate focus or already operating in this field of business, like Helge Nyberg AB and Stigo Fleet.

Prototype Version 3.2

The company is currently of the third generation of their product. Until now, the company has developed and matured the mechanical part of the three-wheel electric vehicle yet to deliver a fully functioning 1:1 prototype with custom made hardware(HW) and software(SW) that can be tested in a full-scale operation with a commercial partner. HW and SW for the device is still under development - distancing the product from the DIY products like Arduino and having a comprehensive maturity of the product.

Expected launch -> 2021

With the current pace of the development of the HW and SW of the product, the company is confident to launch its product, by medio 2021 to its beachhead market.

With the company’s attendance at the largest European airport show, we are expecting sales in the range of 200-2500 devices first year, based on endorsement and commitments gathered at the exhibition and previous LOI from industry partners. From launch, and with the current set business model, we project an annual growth of around 10%.

Focus on testing device with CPH- & MUN airport

Prior to launch, the company has an agreement with Copenhagen Airport and Munich Airport regarding scaled pilot tests of the product. With the company composition covering both German and Danish founders, the German department will be conducting a pilot test with Munich Airport while the Danish Development Department will conduct tests with Copenhagen Airport. The yield of the tests will be published in The Passenger Terminal World which has a subscription crowd that reaches over 15,000 airport and GHS decision makers globally.

Finance

Since the company initiated this project, the company have achieved 570.000 DKK of funding from Mikrolegat, Otto Bruuns Fond and Innovation fund Denmark.

To finalize the project and launch their flagship product to its beachhead market the company project that the company needs additional 500.000 DKK to finalize the development of dedicated electronics and software for their device.

Description of the team

The company has been co-founded by 2 multidisciplinary engineers, X & Y:

X, CEO, M.Sc. engineer in Design & Innovation from DTU. X has for the past 3 years worked as a mechanical engineer at the engineering consultancy 2C A/S. Based on his experience & knowledge with mechanics, he will be the main responsible for the mechanical design & development activities. By working on the uMover project as part of many master's special courses & his thesis, X has spent the last 2 years becoming an expert in the field of micro mobility.

- Y, COO & CIO, Dr.-Ing. from the Technical University of Darmstadt. He has more than 10 years’ experience in the field of strategy & innovation in the mobility & transportation industry & since 2016 he has been working in the Future Mobility Concept Team of CAG. Based on his industry knowledge, he will be responsible for the commercial development as well as for all activities involving prototyping & tests with end-users.

- Z, CTO, M.Sc. Eng in Electrical engineering from DTU. Z has 25 years of experience in product development mainly specializing in the electrical and software development and has helped many tech products reach markets. Based on Z experience and industry knowledge, he will be the main responsible for the HW & SW development and technical integration with the mechanical components.

Questions for the panel

1.Sales strategy, reach-out: What sales strategy should we focus on to push the product out into the market? Outreach sales, cold calls, promotions and free demos, SoMe etc.

2.Business model, strategy: Which business models (Freemium, premium, licensing) will work for the strategic segment we have chosen (B2B, large companies)?

3.Capital raising: How do we secure funding for further growth and expansion and to expand our sales channels both in Denmark and abroad, e.g. through store sales (bicycle dealers, electronics stores etc)? Who are possible investors?


CONNECT Denmark — Bryghuspladsen 8, 3. sal, 1473 København K — Telefon: +45 24 27 07 07 — E-mail: connect@connectdenmark.com — Sociale platforme:
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