Geepers backed technology app pitches solve major social issues, but miss the mark on funding
On Tuesday this week, Geepe.rs, the startup changing the way we view and use geo-location around the world held the finals of its pitching competition at Sydney’s ATP Innovations.
The night comprised of four pitches all of which had a “social good” flavour to them. On the whole the pitches were well-constructed and the problems the founders were proposing to solve were relevant and ambitious.
The winner of the competition was Karnig Momdjian, with his idea for Geepers technology to be used in the fighting of bush fires, by the RFS identifying the locations of water sources, volunteers and fire trucks.
Here is a snippet of my thoughts on the pitches and ideas.
There were four ideas, two of them were very similar in the way that they touched on emergency services, the other two both played in the space of accident prevention. Here were the problems being solved:
- Identifying water sources, volunteers and vehicle locations during bush fires
- Allowing emergency services to pin point the exact locations of those people in need
- The rescuing of animals and removal of roadkill from the roads to prevent accidents
- The war happening between cyclists and motor vehicles, preventing accidents and road rage
All of the pitches clearly demonstrated they understood the problems that existed and what needed to be done to solve them. It was also impressive to see the research that participants had conducted in verifying the statistics around the industries they were looking at and the types of customers who would be interested in using their services.
Where I felt all participants were a little hopeful without any solid merit was when it came to the initial and ongoing funding and monetisation of their ideas. On the whole, most were a local, state or federal government play or an insurance company play.
Whilst I agree that the services they were pitching absolutely make sense sitting in those spaces, the marketing dollars and budgets needed were underestimated and would present problems down the track if they were to get some wins in signing up councils and the like, but ran out of funding mid-implementation and acquisition.