Veglo
Contestant information
Business name:
Veglo
Name:
Lucy Lynn-Evans
Business website:
Twitter:
Facebook:
LinkedIn:
Elevator Pitch
Elevator Pitch:
Innovators in personal safety illumination
Detailed elevator pitch:
Innovators in personal safety illumination. Our pioneering product is a wearable, fibre optic rear light - the Commuter X4. Unlike a single point of light, multiple focus points allow drivers to accurately judge the distance, width and speed of cyclists. It also provides a side profile at junctions and enables HGV drivers to see cyclists from above. We were top pick at the Gadget Show Live, gained 2nd prize in the British Inventors Project, were successfully funded on kickstarter, have over 700 in pre-orders, and have key retailers on board. We have a range of innovative lights in development. We always aim to be smarter, not brighter.
Industry sector:
Manufacturing
Business Plan
Your USP:
Innovative solutions to specific visibility problems. Most lights strive simply to be brighter; this no longer cuts the mustard. Our first light addresses the following: 75% of cycle accidents happen at junctions 50% of cycling deaths involve an HGV A single point of light does not convey enough information to other road users Our other lights will address equally as important and specific problems surrounding visibility.
Your market:
Cycling market is booming - 20% of Britain cycles at least once a week. Commuter cyclists are fastest growing group. Parts and Accessories cycling market is £615m in UK, $15b globally. UK Government aim is to increase amount of journeys made by bike from 2.5% to 5% by 2020. There is no wearable, fibre optic light, with a central projective light currently on the market. Blaze and Brainy Bike Lights are also producing innovative lighting solutions (albeit tackling slightly different problems) on a small scale. Halo is producing a wearable light (expensive, no projective light, cannot be worn over a packback).
Your people:
Edward Ward. Founder. Experience: Front end sales at Africa Odyssey (5yrs), last 2 years as acting MD. Launched Get Some Seeds and founded Veglo. Designed the Commuter X4. Lucy Lynn-Evans. Head of Growth. Founded Bike 2 Basics (cycle tours to festival) (3yrs), Fellow of the New Entrepreneurs Foundation (1yr), Affiliate and Partnership Manager at Seatwave (1yr). Philip Tan. Quality Control Officer. Based in Hong Kong. Project Management Director at iGo (7 yrs), Mechanical Engineering Director at RadioShack (10 yrs). Jack Hampson. Non-exec Director. Founded adapt mobile and sold in 2012 to iGo. 6 years experience in technology manufacture, distribution and retail.
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