L'intervento di Francesco Giartosio intitolato "Glassup, fonti alternative di finanziamento" all'evento Westarter International by Simpler [Bologna, 20 marzo 2014]

1. Much more to see

2. 2CONFIDENTIAL
Use Cases
• Emails, text messages,
• Facebook status updates, tweets, RSS
• Stock market values, breaking news
• Calendar events
• The words of their friends to the deaf
• Driving directions to the drivers
• City tour information to the travelers
• Painting captions in the museums
• Subtitles of movies or at theaters
• Flight data to airplane model lovers
• Street signs and menus translations in Beijing
• The Linkedin profile of your meet up
• Patient’s heartbeats to the surgeon
• Mileage and speed to a sportsman
• Performance in reality games
• Domotics data at need …
… WHATEVER THE CREATIVITY OF
DEVELOPERS COMMUNITY WILL COME UP WITH

3. 3CONFIDENTIAL
The Apps

4. 4CONFIDENTIAL
Other design & Ux

5. 5CONFIDENTIAL
Competition
Price / Complexity
Google Glass
Epson Moverio
Vuzix M100
GlassUp
Bulkiness
Recon Jet

6. 6CONFIDENTIAL
• CEO: Francesco Giartosio (Founder & Co-Owner)
• COO: Andrea Tellatin (Co-Owner)
• CTO: Gianluigi Tregnaghi (Co-Owner)
• Business Development & Sales: Alfio Giuffrida
• Optical Team: Alessio Zanutta, Sara Mautino, Fabrizio Liberati, Tommaso
Occhipinti, Fabio Frassetto, Ivan Capraro
• HW and SW Development: Fabio D’Alessi, Stefano Bianconi, Alberto Scarpa +
• Product Engineering, Manufacturing and Logistics: Fabio Patron +
• Marketing & Communications: Giovanni Contini, Joseph Bradley, Claudio
Forte, Calogero Bruno
• Mentor: Luca Escoffier
The Team

7. 7CONFIDENTIAL
Development Status
Timeline
2011 2012 2013 2014 2015
I I I I
Development Industria-
lization
Feasibility study Distribution
I I

8. 8CONFIDENTIAL
Cash Flow
Cash Flow
Q1-Q2
2013
Q3-Q4
2013
Q1-Q2
2014
Q3-Q4
2014
Bootstrapping +200 +100
Crowfunding (Indiegogo) +100
Government Contribution +100
Development, Industrial’n -150 -150 -450 -450
General Expenses -50 -50 -50 -50
Working Capital -1.000
Marketing and staffing -500
Investment Needs 0 0 -400 -2.000
First round funds need €400K, for development and industrialization.
Second round €2M need is mainly for production ramp-up..

9. 9CONFIDENTIAL
Product Lines / Patents
• Original Technology (patented)
• Current Technology (to be patented)
• New Technology “N” (to be patented)
• New Technology “M” (to be patented)
• Prescriptive (to be patented)
• Camera version
• Dentists
• Surgeons (to be patented)
• Musical
• Sight Impaired 1 and 2 (to be patented)

10. 10CONFIDENTIAL
Financials
€ / 000 2013 2014 2015
Income Statement
Unit Sales 10.000 200.000 A
Turnover 2.000 40.000 B
Cost of Sales -1.000 -20.000 C
Gross Margin 0 1.000 20.000
Marketing Cost -500 -2.000 D
General Expenses -100 -100 -2.000 E
EBITDA -100 400 16.000
Amortization -50 -250 -400 F
Pre-Tax Result -150 150 15.600
Taxation -50 -5.600 G
After Tax Result -150 100 10.000

11. 11CONFIDENTIAL
francesco.giartosio@glassup.net
Tel. +39 3470021220
www.glassup.com
Thank you!

12. 12CONFIDENTIAL
How it is
• Light and comfortable, stylish
• Two – three designs
• Expected weight 70gr, material to be defined
What it contains
• A patented sophisticated optical system
• An electronic circuit with Accelerometer, Compass, Ambient Light
Sensor
• Bluetooth connectivity (Low Energy version)
What you see
• Monochromatic messages and icons on a transparent background
• Near the center of the Field of View, no eye-strain
• 320x240 display resolution
How it works
• One day battery use time
• A wide set of apps: Android, iOS and later on Windows
• Touch controls on the frame to select on a menu and submenus
• Automatic light control, optimized for all viewing conditions
Specifications

13. 13CONFIDENTIAL
Google Glass Sales Projection
Source: Business Insider research May 2013

14. 14CONFIDENTIAL
Market size
Google’s Glass Project exposed a huge market interest for
this kind of products
A market research we made among 1,000 US citizens
showed that one out of four was interested
In May 2013 Credit Suisse released a report forecasting a
$30B / $50B market for wearable technology in the next
two / three years. Sport should prevail in unit terms, and
health/medical device in value.
Business Insider May 2013 research: “…Google Glass will
reach 21 Million Annual Unit Sales by Year-End 2018”

15. 15CONFIDENTIAL
• Sales volumes estimates are a fraction of the incoming requests.
• Average gross sales unit price is estimated at € 200.
• Unit cost estimated at € 100.
• Marketing costs are estimated at € 10 per unit.
• General Expense is for admin, consultancy and the like.
• Amortization is 20% (5 years) of the cumulative investment.
• Taxation is estimated at 35% of income.
Financials - Assumptions

16. 16CONFIDENTIAL
Target
Market
• Geeks, techies and fashionistas
• Sportsmen – joggers, sailors, motor bikers, ...
• Deaf
• Theaters, cinemas, museums, tourist places
• Trade shows, exhibitions
• Surgeons
• Customized products for warehouses, maintenance, etc.

17. 17CONFIDENTIAL
• Google Glass: wearable computer, high power consumption, more
social/entertainment device, expensive and annoying (display up-right)
• Recon Instruments: Recon Jet, display based, low-right position
• Epson Moverio: BT-100: big and heavy
• Lumus, Vuzix, Laster, Optinvent: sophisticated, heavy, expensive,
not on sale yet
… Oakley, Olympus, Sony,
… Digilens, Microsoft Fortaleza, …
Price / Complexity
Bulky
Competition

18. 18CONFIDENTIALGlass Up 18
PATENT OVERVIEW
The purpose of the patent for the optical system is to allow the message to
have a transparent background, in other words through the same lens you
can see the reality around you and, superimposed on it, the information in
advanced reality. The information does not cover the view, it adds onto it.
In practice, the purpose of our patent is to allow the user to see the
messages near the center of the visual field: while I'm talking with you, the
message will not cover your face, but it will appear to me on your
shoulder.
In comparison, Recon Instruments will show the same message on your
shoes, and Google Glass will show it on the ceiling, because they need to
push it aside otherwise it will cover your view. Looking frequently at the
ceiling or at the floor is very tedious, the journalists who have tried on the
Google Glass always take them off after a minute. Plus, you would look like
a goof and hit on to people.

19. 19CONFIDENTIAL
VentureBeat, MSN Malaysia, CIO, Ubergizmo, Mashable, Business Insider, Hacker News,CNet,
PCWorld, Ecommerce Times, Sidney Morning Herald, Pulse 2.0, ITWire, Herald Sun,ITV,
SBWire, Overclock, Geekapolis, ITProPortal, Upstart, ZiggyTek, The Droid Guy,MedCity News,
The Awesomer, Zinx, Tech is for Geeks, Music RSS, Slashdot, Make Use Of,DVICE,
Android Authority, Tech Hive, Market Wire, Yahoo, The Age, The Next Web,
News.com Australia, Slashgear, Geeky Gadgets, Forbes, Techchrunch, Fast Company.
Giornalettismo (Italian), Wall Street Italia (Italian), ZDNet Korea (Korean), Dagospia (Italian),
Corriere della Sera (Italian), Panorama (Italian), La Perfetta Letizia (Italian), Repubblica(Italian),
Tech à Porter (French), Il Resto del Carlino (Italian)
GlassUp on the media

20. 20CONFIDENTIAL
Exit Strategy
Possibili EXIT STRATEGY sono:
• Fusione / Acquisizione da parte di grandi aziende internazionali che
stanno investendo in “Wearable Technologies” (Samsung, Apple,
Microsoft)
• Acquisizione da parte di societa’ Eyewear
• Acquisizione da parte dello stesso leader di mercato, Google

21. 21CONFIDENTIAL
Q1-13 Q2-13 Q3-13 Q4-13 Q1-14 Q2-14
Project Milestones
Feasibility study
Optical system
Electronic circuit
SDK/API
Industrialization
Pre-Series
Market Launch
Mechanics