Francesco Giartosio - Glassup: fonti alternative di finanziamento
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Transcript of Francesco Giartosio - Glassup: fonti alternative di finanziamento
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2CONFIDENTIAL
Use Cases
• Emails, text messages, • Facebook status updates, tweets, RSS• Stock market values, breaking news• Calendar events• The words of their friends to the deaf• Driving directions to the drivers• City tour information to the travelers• Painting captions in the museums• Subtitles of movies or at theaters• Flight data to airplane model lovers• Street signs and menus translations in Beijing• The Linkedin profile of your meet up• Patient’s heartbeats to the surgeon• Mileage and speed to a sportsman• Performance in reality games• Domotics data at need …
… WHATEVER THE CREATIVITY OF
DEVELOPERS COMMUNITY WILL COME UP WITH
3CONFIDENTIAL
The Apps
4CONFIDENTIAL
Other design & Ux
5CONFIDENTIAL
Competition
Price / Complexity
Google Glass
Epson Moverio
Vuzix M100
GlassUp
Bu
lkin
ess
Recon Jet
6CONFIDENTIAL
• CEO: Francesco Giartosio (Founder & Co-Owner)
• COO: Andrea Tellatin (Co-Owner)
• CTO: Gianluigi Tregnaghi (Co-Owner)
• Business Development & Sales: Alfio Giuffrida
• Optical Team: Alessio Zanutta, Sara Mautino, Fabrizio Liberati, Tommaso
Occhipinti, Fabio Frassetto, Ivan Capraro
• HW and SW Development: Fabio D’Alessi, Stefano Bianconi, Alberto Scarpa +
• Product Engineering, Manufacturing and Logistics: Fabio Patron +
• Marketing & Communications: Giovanni Contini, Joseph Bradley, Claudio
Forte, Calogero Bruno
• Mentor: Luca Escoffier
The Team
7CONFIDENTIAL
Development Status
Timeline
2011 2012 2013 2014 2015I I I I
Development Industria-lization
Feasibility study Distribution
I I
8CONFIDENTIAL
Cash Flow
Cash FlowQ1-Q2 2013
Q3-Q4 2013
Q1-Q2 2014
Q3-Q4 2014
Bootstrapping +200 +100
Crowfunding (Indiegogo) +100
Government Contribution +100
Development, Industrial’n -150 -150 -450 -450
General Expenses -50 -50 -50 -50
Working Capital -1.000
Marketing and staffing -500
Investment Needs 0 0 -400 -2.000
First round funds need €400K, for development and industrialization.
Second round €2M need is mainly for production ramp-up..
9CONFIDENTIAL
Product Lines / Patents
• Original Technology (patented)
• Current Technology (to be patented)
• New Technology “N” (to be patented)
• New Technology “M” (to be patented)
• Prescriptive (to be patented)
• Camera version
• Dentists
• Surgeons (to be patented)
• Musical
• Sight Impaired 1 and 2 (to be patented)
10CONFIDENTIAL
Financials
€ / 000 2013 2014 2015
Income Statement
Unit Sales
10.000
200.000 A
Turnover 2.000 40.000 B
Cost of Sales -1.000 -20.000 C
Gross Margin 0 1.000 20.000
Marketing Cost -500 -2.000 D
General Expenses -100 -100 -2.000 E
EBITDA -100 400 16.000
Amortization -50 -250 -400 F
Pre-Tax Result -150 150 15.600
Taxation -50 -5.600 G
After Tax Result -150 100 10.000
12CONFIDENTIAL
How it is• Light and comfortable, stylish• Two – three designs • Expected weight 70gr, material to be defined What it contains• A patented sophisticated optical system• An electronic circuit with Accelerometer, Compass, Ambient Light Sensor • Bluetooth connectivity (Low Energy version)What you see• Monochromatic messages and icons on a transparent background• Near the center of the Field of View, no eye-strain• 320x240 display resolutionHow it works• One day battery use time• A wide set of apps: Android, iOS and later on Windows• Touch controls on the frame to select on a menu and submenus• Automatic light control, optimized for all viewing conditions
Specifications
13CONFIDENTIAL
Google Glass Sales Projection
Source: Business Insider research May 2013
14CONFIDENTIAL
Market sizeGoogle’s Glass Project exposed a huge market interest for this kind of products
A market research we made among 1,000 US citizens showed that one out of four was interested
In May 2013 Credit Suisse released a report forecasting a $30B / $50B market for wearable technology in the next two / three years. Sport should prevail in unit terms, and health/medical device in value.
Business Insider May 2013 research: “…Google Glass will reach 21 Million Annual Unit Sales by Year-End 2018”
15CONFIDENTIAL
• Sales volumes estimates are a fraction of the incoming requests.
• Average gross sales unit price is estimated at € 200.
• Unit cost estimated at € 100.
• Marketing costs are estimated at € 10 per unit.
• General Expense is for admin, consultancy and the like.
• Amortization is 20% (5 years) of the cumulative investment.
• Taxation is estimated at 35% of income.
Financials - Assumptions
16CONFIDENTIAL
Target Market
• Geeks, techies and fashionistas
• Sportsmen – joggers, sailors, motor bikers, ...
• Deaf
• Theaters, cinemas, museums, tourist places
• Trade shows, exhibitions
• Surgeons
• Customized products for warehouses, maintenance, etc.
17CONFIDENTIAL
• Google Glass: wearable computer, high power consumption, more
social/entertainment device, expensive and annoying (display up-right)
• Recon Instruments: Recon Jet, display based, low-right position
• Epson Moverio: BT-100: big and heavy
• Lumus, Vuzix, Laster, Optinvent: sophisticated, heavy, expensive,
not on sale yet
… Oakley, Olympus, Sony,
… Digilens, Microsoft Fortaleza, …
Price / Complexity
Bu
lky
Competition
18CONFIDENTIALGlass Up 18
PATENT OVERVIEWThe purpose of the patent for the optical system is to allow the message to have a transparent background, in other words through the same lens you can see the reality around you and, superimposed on it, the information in advanced reality. The information does not cover the view, it adds onto it.
In practice, the purpose of our patent is to allow the user to see the messages near the center of the visual field: while I'm talking with you, the message will not cover your face, but it will appear to me on your shoulder. In comparison, Recon Instruments will show the same message on your shoes, and Google Glass will show it on the ceiling, because they need to push it aside otherwise it will cover your view. Looking frequently at the ceiling or at the floor is very tedious, the journalists who have tried on the Google Glass always take them off after a minute. Plus, you would look like a goof and hit on to people.
19CONFIDENTIAL
VentureBeat, MSN Malaysia, CIO, Ubergizmo, Mashable, Business Insider, Hacker News,CNet, PCWorld, Ecommerce Times, Sidney Morning Herald, Pulse 2.0, ITWire, Herald Sun,ITV, SBWire, Overclock, Geekapolis, ITProPortal, Upstart, ZiggyTek, The Droid Guy,MedCity News, The Awesomer, Zinx, Tech is for Geeks, Music RSS, Slashdot, Make Use Of,DVICE, Android Authority, Tech Hive, Market Wire, Yahoo, The Age, The Next Web,News.com Australia, Slashgear, Geeky Gadgets, Forbes, Techchrunch, Fast Company.Giornalettismo (Italian), Wall Street Italia (Italian), ZDNet Korea (Korean), Dagospia (Italian),Corriere della Sera (Italian), Panorama (Italian), La Perfetta Letizia (Italian), Repubblica(Italian), Tech à Porter (French), Il Resto del Carlino (Italian)
GlassUp on the media
20CONFIDENTIAL
Exit Strategy
Possibili EXIT STRATEGY sono:
• Fusione / Acquisizione da parte di grandi aziende internazionali che stanno investendo in “Wearable Technologies” (Samsung, Apple, Microsoft)
• Acquisizione da parte di societa’ Eyewear
• Acquisizione da parte dello stesso leader di mercato, Google
21CONFIDENTIAL
Q1-13 Q2-13 Q3-13 Q4-13 Q1-14 Q2-14
Project Milestones
Feasibility study
Optical system
Electronic circuit
SDK/API
Industrialization
Pre-Series
Market Launch
Mechanics