Startup: Bignay Inc.
Founders: Lucas Toledo, Eric Sevillia, & Agustin Augustinoy
Pitch: Bignay Inc. is an alternative transportation startup aspiring to change urban mobility for the better.
If you live in NYC like I do, you’re probably familiar with the illegal electric bikes used by some delivery people that can get you killed as you’re crossing a street. These bikes are akin to motorbikes, except they’re largely unregistered and unlawful. But there is another kind of bike that falls into a category called electric-assist where the electric motor only kicks in once you pedal. These bikes generally don’t travel more than 16 to 20 mph. While conflicting federal, state and local laws make them either illegal to use, or at least unclear as to their legality in NYC, this type of bike represents a massive market for use by commuters valued in the billions of dollars.
As Americans become more and more concerned with alternative and eco-friendly forms of transportation, there’s a compelling argument for regulations to be clarified on this type of bicycle. Hopefully it can be done in a way that makes streets safer and not more dangerous. If that happens, we’re likely to see the adoption of electric bikes here in a way that mirrors the massive adoption already seen overseas.
To transform the way millions of people commute around the world.
We created Gi FlyBike with the macro thesis that metropolitan areas around the world are changing at a rapid pace. Here are some reasons why:
- Growing urbanization and traffic on city streets is pushing people towards alternative forms of transportation;
- Government investment in bicycle infrastructure is making cycling more safe and more accessible;
- Government regulations to curb traffic in city centers is restricting cars’ access to city streets;
- The quality and affordability of lithium ion (Li-ion) batteries have increased significantly over the past five years;
- Cycling makes sense given the increasing trends in healthy lifestyles and environmental sustainability.
The global e-bike market generated $9.5 billion in revenue and sold 31.7 million units in 2014 alone. The market is expected to grow to $13.7 billion in revenue and sell 40.3 million units by 2023. China is a significant player in the e-bike market, but the Asian Pacific countries and Eastern European have yet to be fully introduced to the market and they have significant growth expectations. The rest of the market is expected to grow 5.3x in terms of revenue and 4x faster in terms of units.
Product or Service:
Gi FlyBike is an electric, smart, maintenance-free folding bicycle with full size, 26” wheels. It’s electric because it has a battery and a motor. It’s smart because syncs to smartphones. It’s maintenance-free because it has solid anti-puncture tires and a non-grease belt drive. It folds because it folds — in one second and in one motion.
Real and Vaporware:
Zero vaporware. Our Kickstarter campaign that has quintupled its goal is real. The Gi FlyBike mobile app, available for download in the App Store, is real. Our manufacturing partnership with Yadea Technology Group, the third largest e-vehicle manufacturing group in the world, is real. Our distribution partnership in the U.S. with Amazon is real. Our vision for the future is to create a global network of service stores and distributors that represent the Gi FlyBike brand.
Perspective and passion qualify us. We are not cyclists and we never plan to be. This perspective permits us to think critically about traditional bicycle design. We are committed to doing purposeful work. The Gi FlyBike team combines an entrepreneurial spirit with business, design and execution experience.
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