Home SMART 100 2015 GoFar

GoFar [SMART 100, 2015]

0

This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.

Learn more about the SMART 100 >>

1. THE BEGINNING

This innovation initially came to life when…

Danny Adams is an Eco-petrol head. Maybe the only one. He realised that with a prompt, cars could provide us with a lot more information than they currently do and, if drivers could see that information in real time – on how efficiently they are driving, then they could adapt their driving and so save cut emissions and save on fuel. In evenings and weekends whilst working at 3M in his day job he developed and patented the technology which puts motor racing efficiency analysis into every day cars.

2. WHAT & HOW

The purpose of this innovation is to…

GoFar is an intelligent in-car device that empowers you to drive your current car smarter. GoFar finds your car’s unique sweet-spot and uses real time feedback to guide you there, reducing your time in traffic, cutting emissions and fuel use.

It does this by…

Our device fuses data from your car and from precision gyros and accelerometers so we can precisely calculate perfect efficiency for your car. A dash-top display then gives simple feedback on how far you are from perfect efficiency – when it glows red you’re wasting energy and burning money. Finally, we turn your phone into an awesome car trip computer.

3. PURPOSE & BENEFITS

This innovation improves on what came before because…

Drivers have very little information on how efficiently they are driving. This is is why most governments estimate we waste 20-25% of the fuel we buy. GoFar makes your costs very obvious, as you drive, so that you can adjust your behaviour to drive more efficiently. The innovation is giving people the information and motivation to drive smarter.

Its various benefits to the customer/end-user include…

Fuel reductions of 13-22% (and fuel cuts mean emissions drop too). Smart insights based on your actual driving patterns. No significant increase in journey times. Smoother driving means less accidents. It’s the closest thing to an economic free lunch!

4. COMPETITIVE LANDSCAPE

In the past, this problem was solved by…

Formula 1 teams invest millions to optimise efficiency. Determined ʺhypermilersʺ would use pen and paper as cars don’t store our data like GoFar. Now our multi-award winning, patented technology is empowers any driver to turn almost any car, new or old, into a smart car that cuts costs, accidents and emissions from day 1. Real-time feedback is the key.

Its predecessors/competitors include…

Cars can’t do what we do because they never store or share data. There’s other ʺOBDʺ devices out there but none of them provide safe real time feedback with a dedicated display or with an app focused on driver motivation.

5. TARGET MARKET

It is made for…

It’s interesting for families with one or two cars, but it’s most interesting for fleets (to cut costs) and insurers (to cut accidents). The more you drive the more relevant it is (so daily commuters and professional drivers like taxi drivers are key early markets). It’s mostly appealing to 30-50s as this group is cash constrained by children but still open to such technology. More mature drivers feel they are already ʺgoodʺ and younger drivers often don’t perceive a problem. We are particularly interested in helping young drivers quantify their skill level however in the future.

It is available for sale through…

We’ll always be driver focused (unlike the traditional telematics industry), but we do intend to distribute predominantly through the fleet and insurance verticals.

Our marketing strategy is to…

We will initially target fleets on a cost reduction message and insurers with a focus on accident reduction. Drivers using our solution drive smoother which cuts accidents significantly.

FINE PRINT: This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.

Get unlimited access to our FREE business tools…

Need to raise capital? Want to become a more persuasive presenter? Want to master social media? Is it time to overhaul your website? Unlock the library to get free access to free cheat sheets and business tools. Click here for free business tools.