Some questions you might like to know
Describe what your company does in a tweet
We offer TIME to our costumers at COST-FREE. We will change the traditional QSR business going to a costumer-time-first philosophy
Describe your company’s product or service in detail
An innovative way to get your food faster, avoiding queues in fast food restaurants. You just have to take your mobile and order your food while you’re on the bus or leaving work. Upon arrival to the restaurant just say goodbye to people waiting in line and pass your phone over the restaurant counter to get identified. Enjoy your freshly cooked food.
How far along are you? How long have you been working on it?
3 years = patents + business model + developing plan
Where do you live now, and where would the company be based if we fund you?
Castellon, Spain / San Francisco, California
What’s an interesting project, preferably outside of class or work, that you created either by yourself or along with your co-founders?
Why did you pick this idea to work on?
For its high commercial potential and because it’s the moment to change the traditional purchase flow to a digital environment flow. We want to build a legendary and enduring company
Have you already participated in an incubator, accelerator or mentoring program?
Yuzz – Santander Accelerator Program
SECOT + ESPAITEC: Mentoring
Do you have domain expertise in this area?
Yes I’m Industrial Designer and Product Developer
How do you know there is a need for the product you’re building?
Nowadays 52% of the customers that spend 4 minutes on a queue just leave it
Is there something new about what you’re building or are you taking an existing product or service and making it better?
What substitutes do people resort to because it doesn’t exist yet (or they don’t know about it)?
They resort to kiosks that require the customers to be physically present in the store
Who are your competitors, and who might become competitors?
McDo kiosks and some QSR that are modifying their purchase flows into a real digital business model
Which competitor(s) do you fear the most right now, or might in the future?
McDo and Yum!
What do you understand about your business that other companies just don’t get?
Millennials are leaving the QSR that do not offer mobile interaction
How will the company make money?
Three ways, royalties (5% of each order), system implementation and maintenance
What is the big vision for the company? How will you dominate in your space?
We want to be an international standard. Our users will have their orders within 10 seconds, those who are not our customers will have to wait 10 minutes
How will you get users? What are some specific user acquisition strategies you will use to get initial traction?
Millenials and full-connected people wants real fast solutions. We don’t want you to waste your time when you are hungry
Since no legal entity is formed yet, describe the planned equity ownership breakdown among the founders, employees and any other proposed stockholders
45% at $1M valuation, divided in at least 6 different stakeholders
* Those are not definitive numbers, we should negotiate it carefully
Do you have registered the industrial or intellectual property of your product or service?
Yes, we have the spanish industrial patent of the system P201400716
Also we have PCT patent priority and looking for help to bring it to USPTO before 2017
Is there anything else we should know about your company?
We won an accelertor prize to go to Silicon Valley so we will be there fom OCT 17 to 22 on a tour trip. Tell me, we can meet on Holiday Inn San Francisco Golden Gateway along this week on evenings when we just fish touring the city
What are some other ideas you’re passionate about that you would like to discuss with us?
Your industrial development capabilities, contacts and which is the best place to develop our technology? Because bring all our teams to San Francisco can be somewhat difficult, so we need to negotiate it