My name is Saksham Harivyasi and my company is Rove. I am looking for an investment of $500,000 in exchange for 20% of my company.
Rove is an upcoming carsharing service that will provide Mahindra’s E2O Plus for free car transportation in Bengaluru. Rove’s fleet will comprise partly of cars sourced from third party vendors and partly of self-purchased cars. The fleet will be dispersed in verified parking locations all over Bengaluru so that our users can conveniently access our cars in a few minutes from anywhere in the city. Each user will be able to avail one free trip everyday by accessing our cars from one of these parking location. To complete a trip, users can return the cars to any of the verified parking locations in the city.
The service will rely solely on advertisements to sponsor free transportation. A four square feet LED screen will be mounted longitudinally on the roof of every car. This LED screen will be programmed to display five to ten second video commercials based on the geolocation of the car. We will charge rougly Rs. 7 per min to advertise on top of our cars.
The digital screens can be programmed to display advertisements based on geolocation. This provides an inexpensive method of advertising to local businesses as they can select any budget and advertising duration. These features would make our method more feasible than billboards for local companies and decrease their demand for advertising on billboards. Furthermore, the novelty and modernized look of our advertising method would make our product superior to billboards at a less expensive price. In addition to the billboards, our service will also hold a competitive edge over social media advertisers such as Facebook and Google in terms of being Hyperlocal. Our screens will only display advertisements once the car is in the vicinity of our advertiser’s store, shop, locality. Therefore providing precious impressions to our advertisers, whereas the best Facebook only allows for a minimum range of an 8 square km radius.
Beyond one free trip everyday limit, the user will be charged a certain fees per minute of usage. The purpose of charging the users for additional usage is to allow more people to benefit from the car and decrease incidents of misuse. Free transportation will increase disposable income by 7% to 10% for the middle class segment of the population and increase its ability to avail better qualities of life improving services such as healthcare and education.
In addition to benefiting users, the service has the potential to reduce our carbon footprint. Study has proven that each carsharing car reduces 23 private vehicles on the road. Fewer private cars purchases mean less manufacturing induced pollution and a decrease in the need for parking infrastructure. Lastly, the highly modern and affordable digital screen advertisements will improve the Bengaluru’s skyline by decreasing the need for traditional, space consuming, and static billboards.
Rove has the potential to improve lives, reduce the deterioration of our environment, and improve the aesthetics of Bengaluru. Hence, we request BBMP to grant Rove the permission to advertise using the car-mounted LED screens.
Presently digital screens are widely used for advertising on taxis in metropolitan cities of New York, Sydney, and London because of the potential they hold for replacing traditional billboards. The dimensions of our screens are 1010 mm X 180 mm X 370 mm. The screens are longitudinally placed on cars to only attract pedestrian attention and to avoid interrupting a motorist’s line of sight.
Benefits of our service
Middle to low-income households would be our most frequent users and they spend 7-10% of their income on transportation, taking away from healthcare, education, etc. A free transportation service would allow these segments of the population to have higher disposable income and experience better lives. In addition to middle and low-income households, we may see a positive response from younger generations of all income levels as they prefer access-based services over private ownership.
Pollution is one of the major problems in Bengaluru. The largest source of air pollutants is private vehicle transportation. Our Electric Vehicles (EVs) has the potential to decrease city pollution and make Bengaluru green again. Carsharing as a service also helps to reduce our carbon footprint. Study has proven that each carsharing car reduces 23 private vehicles on the road. Fewer private cars purchases mean less manufacturing induced pollution and a decrease in the need for parking infrastructure.
Our service has the potential to revolutionaize the out-of-home advertisement industry, benefit the public, and reduce the pollution of the environment.
If you are curious about my startup. Please reach me on my email, firstname.lastname@example.org