SOUTH Australia's Fierra Dynamics has been shortlisted as one of the top ten national entries in to the Australian Sports Technology Network (ASTN) Investment Pitching Competition.
The team of young professionals will be pitching their first commercial concept to a panel of sporting technology experts and investors in Geelong, Victoria, on 16 October.
The concept – an intelligent, integrated vibration control system for carbon fiber road bicycles with an Internet-of-Things twist – seeks to re-introduce comfort to performance road bikes, where function usually overtakes form.
Fierra Dynamics Brand Manager Frank Stillitano said that the team is confident of their idea, which comes on the back of more than two years of planning.
“Vibration is the cause of a lot of grief for cyclists. Our engineers are saying they can control the vibration to create a more comfortable ride without increasing the weight of the bicycle frame too much,” Stillitano said.
What sets their concept apart from the competition is the combination of vibration control with an integrated network of sensors and technology, turning a bike frame in to a cohesive, communicative unit.
“The sensory network within the carbon frame will measure things like vibration and angle of incline or decline. We'll be able to give that data back to users through mobile or internet applications, GPS – some of those things are out there already, but not integrated in to the bike. We'll be expanding on that information too.”
The pitching competition carries a ten thousand dollar prize, which would partly fund a working prototype – a necessary next step in their business plan.
“It's a step closer to building the actual prototype. We have a proof-of-concept, but what we need to sell the actual idea is to get that actual working prototype.”
Once the right connections are made, founder and former triathlete John Morton believes that the business model will take off.
“Developing our first product for the cycling enthusiast means our target audience is global and our revenue is scalable,” Morton said.
“We're looking to create partnerships with individuals or organisations that understand the social, economic, environmental and health benefits of cycling, and the importance of manufacturing to this State.”
ASTN Investment Pitching Competition
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