HulaSync : Startup Weekend Project
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The Hula Sync device automatically syncs external drives to cloud storage for backup. It solves the problem of needing to manually backup drives, which takes time and risks mistakes. The device connects drives to laptops/desktops and syncs content to the cloud provider of choice. Customer feedback showed people find manual backup cumbersome and would be interested in an automatic solution. The company plans to market directly to consumers and license the technology to drive manufacturers and cloud providers.
HulaSync : Startup Weekend Project
- 1. “The device that automatically syncs your external drives to the cloud”
- 2. The Problem You need to remember to back up your external drives, it takes time, and mistakes can be made.
- 3. The Solution Desktop Laptop Our Hula Sync device enables consumers to automatically sync and back up their external hard drives to the cloud provider of their choice!
- 4. Value Proposition No more worries or hassle…Hula Sync provides convenience and peace of mind. “Backing up your drive has never been easier!
- 5. Customer Feedback Interviewed 6 people about our product: People agreed backing up their external drives are cumbersome and they often forget to do it People liked our idea and expressed interest in purchasing one for the convenience factor Potential customer – EntireCloud Interested in partnering to offer our HulaSync device to their current customers
- 6. Business Model: Market Strategy 2 – Tier Marketing Sales Strategy: 1st Approach – Direct Sales through our website Our clients – anyone who owns external hard drives, USB Sticks, flash drives, or even mobile smart phones # of external hard drives sold in 2012 – 620 Million # of smart phones in 2012 – 500 Million Current Potential market size of 1.2 Billion! And Growing…Global USB Flash Drives Market to Reach 568.98 M by 2015 – Report by Global Industry Analysts, Inc If we capture just 1% of the Total Market – 1.2 M units @ $100 per Unit = $120M in Gross sales!! Plan to drive consumers to our website through web search optimization and social media marketing
- 7. Market Strategy (Con’t) 2 – Tier Marketing Strategy: 2nd Approach – Licensing! License our product to: (1) manufacturers of external drives, and (2) to cloud storage providers # of Total Manufacturers for external drives = 57 # of Smart Phone Manufacturers = 7 # of Cloud Storage Providers = 150 Potential Market Size for Licensing = 210 Manufacturers Offer 5% royalties on all units sold with a minimum royalty per year basis. Assuming MSRP $100 License on: Software and Patents Already have established relationship with patent brokerage agencies – i.e. Oceantomo ICAP
- 8. Prototype: HulaSync Box USB drives x 4, Ethernet slot, SD card slot, Wi-Fi, blinking light and sync button.
- 10. Install in 3 Easy Steps: Power Up, connect your USB device , and press sync.
- 12. Management Interface - HulaSync
- 13. File System – HulaSync
- 14. Initial Testing Completed iPhone/iPod/iPAD Western Digital Drives Several USB Dongles Compact Flash Readers
- 15. Intellectual Property We are identifying everything that is novel about this product. We will file for provisional patents in the U.S. and abroad.
- 16. Our Team Edwin Hernandez Ph.D – Chief Technical Officer Doctorate from UF in Computer Engineering 20 years of engineering background experience 8 patents issued Experience working at Microsoft and Motorola Henry Incer – Business Management MBA from Nova Southeastern University Management experience working at Walmart and Disney Lucie Allaire – Marketing and Sales Development B.S.B.A from UF with concentration in marketing and minor in entrepreneurship Sales and marketing experience from small businesses and own entrepreneurial endeavors
- 17. Any Questions? Visit us at www.hulasync.com