Case-study: Launch of the immersive Virtual Reality suit
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 the monopolist in the expanding haptic-response market for the 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:
Skein conducted market and user feedback research, built financial projections and evaluated the impact of various scenarios on customer adoption and business success.
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.
Product positioning research helped uncovering user preferences and clarify the product-market fit.
At the next stage, we built a mathematical model and dashboards, and implemented the visual modelling to gauge the possible threats and opportunities. Skein also provided the client team decision-making tools, as well as created product data analytics ecosystem for investors.
Financial projections covered:
At this stage we worked closely with the client to present the market opportunity to the investor and negotiate terms. This included:
Tesla Studios has secured an investment from a wide range of investors, crowdfunding and grants and is successfully growing the company.
