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29 April 2014
“You Have to Be Bold, but Reasonable”
Oleg Kivokurtsev, chief executive of the Omi Robotics startup, a manufacturer or a robotic snowplow, explains how the GenerationS contest helped his company to create an advanced business venture and what lies ahead for it. Participation in last year’s GenerationS acceleration program organized by the RVC and Moscow Center for Innovative Development and supported by the Moscow City Hall, enabled Omi Robotics to find and receive finance from an investor – Igor Matsanyuk’s IMI.VC venture capital fund.
“Oleg, how did you get the idea for a robotic snowplow?”
“We noticed that household robotics are gaining momentum and moving consistently forward, powering ahead like a locomotive. And as soon as solutions started coming out like robotic lawnmowers and floor polishers, we could no longer just sit on our hands. Clearing the snow is a major everyday problem alongside dirty floors and untidy lawns. So we decided to tackle this problem.”
“Can you please tell us about your team?”
“There were three of us working together. I was responsible for project promotion and raising investments. I was also responsible for searching for suppliers and manufacturers of various components. Igor Eremeev was in charge of software and hardware. He programmed controllers and designed the electronics innards. Maxim Utev came up with the overall design, he made calculations for all the assemblies and forces acting on the hardware.”
“What was your prototype capable of doing?”
“Our first prototype was a minimally autonomous, remotely controlled snowplow. We assembled it from odds and ends we had available, including parts of a wooden cabinet and wheels; the machine resembled a dump box. However, it looked pretty neat and it did the job: it cleared the snow from the parking lot outside our office pretty effectively. It immediately attracted a lot of media attention, after which we started getting calls and preorders.”
“How did you get along with investors? How difficult was it to raise finance for the project?”
“We have participated in a great number of contest, and GenerationS was decisive for us. We did not engage in an active search for investors. It just so happened that we got some media coverage – someone wrote an article about us in a newspaper during the contest – and our investor just happened to read it and become interested in the project. At first, they called us on Skype a few times. Then we met in person, after which we signed the paperwork required to close the deal.”
“How long does it take to build one of your robots, how much does it cost, what kind of revenue are you generating at this point, and is it sustainable?”
“Right now, provided all the components are available, assembly takes only 20 minutes. We priced our robot based on the demand, at RUB 100,000. We are generating some sales, but we are not actively plugging our robot, because we are still in the final stages of developing our first series batch of the robot. We will enter the market after this preparatory work is complete. We have a huge amount of preorders from around the world, with the majority coming from Europe.”
“How do you see the future of your project?”
“We intend to sell several thousand of our products within 12 months. After this, we will start work to develop version two taking into consideration the market requirements. We already have several agreements and MOUs with nationwide dealers for specialty equipment, large retail chains, snow clearing contractors, as well as retailers with a focus on robots.
We are planning to enter international markets as early as this year. We see many competitors emerging after several years, but we expect our product to have an edge on price and advanced functionality.”
“What direction do you think is robotics as a whole going to take going forward?”
“I would say that the robotic market is currently filled only to 10% of capacity. And the b2c segment has the greatest potential for growth. People are ready to accept robotic solutions. All you have to do is put together a convincing value proposition, like ours, for example. I know of only two lawnmower robot models currently available. If someone were to move in this direction, they could take some market share. At the same time, I see great potential for robotic solutions in agriculture, with its multitude of repetitive, identical actions. I can also see solutions for road construction succeeding rapidly and with very reasonable effort. Roller-compactors compact asphalt along an absolutely identical, unwavering trajectory, making progress at a leisurely pace of 1 meter a minute. Road graders can move along automatically, following a preset program. Power shovels and forklifts also make the same set of moves throughout the work shift.”
“What advice would you offer young inventors?”
“You absolutely must develop your sales skills, enter contests, give presentations, and, definitely, believe in your project. If the person who came up with the project in the first place doesn’t believe in it, how can anyone expect others to have any confidence in it? You have to listen to good advice, and also be bold and industrious.”
“What do you mean by ‘bold’?”
“I mean that you have to be bold, somewhat arrogant even, but you still have to be reasonable. This means that you must not be afraid to establish a connection with many different people, you have to be firm, keep your position, and make a solid argument for your case, regardless of the status of the person across the table from you. You have to be ahead of competition and not be afraid to tell the truth.”
This interview was originally published on habrahabr.ru
“We noticed that household robotics are gaining momentum and moving consistently forward, powering ahead like a locomotive. And as soon as solutions started coming out like robotic lawnmowers and floor polishers, we could no longer just sit on our hands. Clearing the snow is a major everyday problem alongside dirty floors and untidy lawns. So we decided to tackle this problem.”
“Can you please tell us about your team?”
“There were three of us working together. I was responsible for project promotion and raising investments. I was also responsible for searching for suppliers and manufacturers of various components. Igor Eremeev was in charge of software and hardware. He programmed controllers and designed the electronics innards. Maxim Utev came up with the overall design, he made calculations for all the assemblies and forces acting on the hardware.”
“What was your prototype capable of doing?”
“Our first prototype was a minimally autonomous, remotely controlled snowplow. We assembled it from odds and ends we had available, including parts of a wooden cabinet and wheels; the machine resembled a dump box. However, it looked pretty neat and it did the job: it cleared the snow from the parking lot outside our office pretty effectively. It immediately attracted a lot of media attention, after which we started getting calls and preorders.”
“How did you get along with investors? How difficult was it to raise finance for the project?”
“We have participated in a great number of contest, and GenerationS was decisive for us. We did not engage in an active search for investors. It just so happened that we got some media coverage – someone wrote an article about us in a newspaper during the contest – and our investor just happened to read it and become interested in the project. At first, they called us on Skype a few times. Then we met in person, after which we signed the paperwork required to close the deal.”
“How long does it take to build one of your robots, how much does it cost, what kind of revenue are you generating at this point, and is it sustainable?”
“Right now, provided all the components are available, assembly takes only 20 minutes. We priced our robot based on the demand, at RUB 100,000. We are generating some sales, but we are not actively plugging our robot, because we are still in the final stages of developing our first series batch of the robot. We will enter the market after this preparatory work is complete. We have a huge amount of preorders from around the world, with the majority coming from Europe.”
“How do you see the future of your project?”
“We intend to sell several thousand of our products within 12 months. After this, we will start work to develop version two taking into consideration the market requirements. We already have several agreements and MOUs with nationwide dealers for specialty equipment, large retail chains, snow clearing contractors, as well as retailers with a focus on robots.
We are planning to enter international markets as early as this year. We see many competitors emerging after several years, but we expect our product to have an edge on price and advanced functionality.”
“What direction do you think is robotics as a whole going to take going forward?”
“I would say that the robotic market is currently filled only to 10% of capacity. And the b2c segment has the greatest potential for growth. People are ready to accept robotic solutions. All you have to do is put together a convincing value proposition, like ours, for example. I know of only two lawnmower robot models currently available. If someone were to move in this direction, they could take some market share. At the same time, I see great potential for robotic solutions in agriculture, with its multitude of repetitive, identical actions. I can also see solutions for road construction succeeding rapidly and with very reasonable effort. Roller-compactors compact asphalt along an absolutely identical, unwavering trajectory, making progress at a leisurely pace of 1 meter a minute. Road graders can move along automatically, following a preset program. Power shovels and forklifts also make the same set of moves throughout the work shift.”
“What advice would you offer young inventors?”
“You absolutely must develop your sales skills, enter contests, give presentations, and, definitely, believe in your project. If the person who came up with the project in the first place doesn’t believe in it, how can anyone expect others to have any confidence in it? You have to listen to good advice, and also be bold and industrious.”
“What do you mean by ‘bold’?”
“I mean that you have to be bold, somewhat arrogant even, but you still have to be reasonable. This means that you must not be afraid to establish a connection with many different people, you have to be firm, keep your position, and make a solid argument for your case, regardless of the status of the person across the table from you. You have to be ahead of competition and not be afraid to tell the truth.”
This interview was originally published on habrahabr.ru
