23 Nov 2016
Dear PodRide Supporter
Time for a quick update. I’m happy to report that things are moving faster now with PodRide. We now have four people working full time on the project, plus a number of volunteers helping us as well.
The digitization of the design is coming along. We have moved the previous models across to our new SolidWorks CAD platform. We are still working on the 3D model which is about 40% complete. The frame which is the most complex component is about 80% complete. These progress indicators are subject to variation after we receive feedback from our manufacturers.
After the 3D modelling is completed, we then need to produce several hundred detailed 2D drawings on all custom components & parts that make up the frame, steering, upper frame, etc., which the manufacturers require for production.
Shown here are a couple of screen shots that show some of the complexity involved.
We need more people & resources to make PodRide a reality. The funds raised to date on Indiegogo are insufficient for this. We will soon speak with potential investors to raise the dollars needed to get PodRide to the production starting line & ready for sale.
As a practice run, we entered a Dragon’s Den (Shark Tank) style entrepreneurial competition in Taiwan where we progressed through two assessment rounds over the past couple of months, before appearing in the final showdown this past weekend. We had to make our pitch on stage to the dragons at a massive Startup Event in Taiwan called Meet Taipei.
Each competing startup business was assessed by the dragons on all sorts of criteria such as market strategy & fit, team, financial viability, etc.
We only had 10 minutes to present our pitch and cover all the key aspects including value proposition, go to market strategy, competition, distribution, financials, etc. That is a huge amount of information to cover in such a short time. We received a lot of positive feedback from the audience of around 100 that watched my presentation, and at the end of the day we were awarded first prize, by the judges.
The most valuable thing I got from the exercise was learning how to present our business proposition in a concise and easily comprehensible format. This will help us greatly when we now speak with investors to continue moving forward on our journey.
Shown below are some photos from the event, and some of the PodRide team.
As always, thanks for your continued support.