New technology from startup ventures is transforming the global sports industry. This Startup Series has introduced over 300 startup companies in the sports technology space to a broader audience by allowing Founders of promising new ventures to tell their story and pitch their idea. Feel free to submit your startup’s answers to the below questions or contact us if you know of a startup that should be considered for inclusion in this series.
This series is supported by Stadia Ventures. If you are a sports technology startup looking for strategic investors, we recommend checking out their upcoming accelerator programs.
Company name: Ride Easy Snowsports
Founder(s): Adrian Li
Headquarters: Ride Easy Snowsports
Website: http://rideeasy.co/
1. What is your elevator pitch?
RideEasy Snowsports was founded to improve all aspects of the snowboarding experience by designing new and innovative tools. This movement was started with the launch of the RideEasy Line, the portable snowboard footrest and lock, on the crowdfunding platform Indiegogo.2. Problem & Solution
The weight of the hanging snowboard on the chairlift puts a strenuous strain on the ankle and knee, contributing to injury, fatigue and prolonged pain to snowboarders. The RideEasy Line allows the rider to hook their snowboard onto the chairlift, letting them rest on the ride up, so they can ride harder on the way down.The RideEasy Line also doubles as a board lock that is always with the rider and always ready to be used. A steel cable and combination code protects the board as it rests against the rack, allowing its owner to head off to lunch with peace of mind!
3. Market – your target market and the overall market
Our target market is the snowboarding community, particularly the US, which is the largest demographic with over 5 million snowboarders in 2016. Moreover, an estimated 45% of these snowboarders have an annual household income of $100,000 +. We’re looking to cater for those who desire a better snowboarding experience, whether that be more comfort and relaxation, or the tools to shred harder and push limits.4. Business Model – how do you make money?
We are raising funds to produce the first batch of RideEasy Lines on Indiegogo. As of writing we currently have achieved 60% of our target goal of $15,000, with over 200 backers.We don’t intend on stopping here and have the vision of designing and producing more snowboarding accessories in the future to improve safety, ride technique, and backcountry exploration.
5. Management Team – with titles
Adrian Li, Founder and Chief Relaxed Rider• Ex-Investment Banker at BNP Paribas
• Built a basketball app from ground up as the COO of VC backed startup "Coachbase Practice Planner" (currently in the iTunes store with 203 ratings averaging 4.7 stars)
• Founded and grew a fitness company in the ultra competitive Hong Kong market
6. Financial Needs: are you currently looking for investment? Have you raised investment already? If so, who are your investors?
Aside from raising funding through public backers in Indiegogo, we have also been backed 5 angel investors. They range from personnel from the finance industry to other hardware startup founders.
Check out the Indiegogo campaign here.