Building

The future

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 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:

  • 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 market and user feedback research, 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.

Product positioning research helped uncovering user preferences and clarify the product-market fit.

Project planning: financials and user demand

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:

  • 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 investment plan

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

  • User testing results
  • Market research: defining 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
Niffler.ai Simply Measured MS Excel custom macros Google Analytics Keyword research Market insights from analysts Industry reports Social network data analysis
Results

Tesla Studios has secured an investment from a wide range of investors, crowdfunding and grants and is successfully growing the company.

Winner, $100K prize.
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