Analytics for a VR start-up

Teslasuit: virtual reality reinvented

Research & Analytics

See the project website

The Challenge

Teslasuit is the world’s first full-body haptic feedback, motion capture, thermo controlled suit.

During the first stage of the prototype development, the company behind Teslasuit, Tesla Studios, aimed to quickly define a niche positioning and become a monopolist in the expanding haptic responce for VR industry. Additionally, they were looking to raise a multi-million dollar seed investment round to support fast scale up and market entry.

The client’s team was facing the following challenges:

Find an optimal product design and features prioritisation
Close investment deals under tight timelines
Align the startup resources with investors’ expectations
Plan demand
Plan operational budget

The process

Skein conducted a market research as part of an ambitious launch strategy, built financial projections, and evaluated the impact of various scenarios on customer adoption and business success.

Research and analytics

First, we gathered information about the founders’ business goals and discussed various scenarios for growth. At the next stage, Skein applied proprietary information gathering tools to model customer demand, current and future competitor trends, and external economic factors.

Project planning: financials and user demand

At the next stage, we built a mathematical model, dashboard, and visual modeling to gauge possible threats and opportunities. Also, provide client team with decision-making tools, as well as data analytics for investors.

Financial projections covered:

Scenarios and economic assumptions model
Five-year financial projections
Five-year monthly Profits & Loss plan
User adoption scenarios: company development and growth models based on given assumptions, such as fundraising milestones, marketing investments, conversion rates
Sensitivity analysis: evaluated what variables have the biggest impact on startup financial model
Break-even analysis
Cash flow analysis

Investor-ready two-page investment plan

At this stage we worked closely with the client to present the market opportunity to the investor and negotiate the terms. This included:

Market research: Define the market potential and user demand
Key industry trends and indicators
Factors that impact demand growth and estimates
Competition, ecosystem
Product summary, financials summary
Plan and milestones
Custom design for investment summary

pitch document

ts_inv_sum_template

Tools and methods

sAnalytix Simply Measured MS Excel custom macros Google Analytics Keyword research Market insights from analysts Industry reports Social network data analysis

Results

Toothscan has secured an investment from a wide range of investors, crowdfunding and grants.

Winner, $100K prize.

2015

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