Jordan: The ingredients are also part of the secret sauce thing. David: We have everything from international patents to U. NYLP: 3 years. So back to the story. A lot of people have this idea, I want to do something. You know when and how much it costs and unit economics, that matters, but certainly to a lesser extent very early stage. As a business, I think we were really efficient about how we were able to get where we are. We definitely spent a lot of time and effort on things that ended up not working out. In terms of the darkest days, I think really at the end of the day there were times where we could have come back that the particular materials we wanted to use or processes we wanted to use were too expensive.
NYLP: And now you guys have this great dynamic between the two of you. I definitely want to go into that, obviously you touched on that there are two parts. Where is the product going to be manufactured? The darkest time was the beginning of when we were what I would describe as just trudging through the mud. We were talking about this last week.
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I would say we probably spent about a good two months where it felt like, no probably actually three months, no progress was being made and then one week, everything happened, everything went well and we got into this accelerator which is funded by BMW called URBAN-X , that was an amazing experience for 6 months. David: That selection process, which lasted at that point, months because it involved going there, screening the companies in person,. David: Yeah nine months from starting the process to finally walking the factory floor with them.
NYLP: Well we have a product here. Can you describe what it looks like for people who have not seen it, people are in their cars listening to this on their headphones, what does this thing look like before I put it on my head with the headphones on? The inner and the outer layer are both machine washable.
The headphones fit well. You could say what you will about Legacy bicycle helmets but they do protect your ears. Jordan: This helmet protects the same coverage area as a traditional helmet so it would, given any impact, perform just as well for protecting the head in terms of a coverage area perspective. I want to get back to what the product looks like per se.
Jordan: We actually created our own software more or less to optimize this. Actually the equation for how the helmet behaves is relatively simple. Are people still going to get helmet hair? The headphone hair. Seriously this is the bane of my existence. NYLP: Problem solved. So why did you choose the crowdfunding model as your initial distribution? Jordan: Crowdfunding is a really interesting space to be in. We were looking for the signal that this product itself was really what people wanted and the only way you can do that is by offering somebody the opportunity to buy it and we were in high-level partnership conversations with a lot of different micro ability companies, so bike sharesscooter shares, things like that, and the piece of data that we were really missing was well do people actually like this?
You know you talked about how crowdfunding is great to generate momentum, but sometimes products are delayed or not shipped at all. A lot of other companies just put an idea out there and then they go to develop the product after the fact. David: We are first time founders, we are recent engineering graduates to the world of entrepreneurship, business development, where do we have to stand. Jordan: Our full-time staff right now is about 7 and between all of our vendors and agencies and what not, have probably about 50 people across that space part-time working. We were joking about it earlier.
But money is also important. It helps you get off the ground, helps you develop all these things, how much money did you guys need to raise to develop this product? We closed that in October and we actually needed more than that. I was competing for their time and resources. Audible: the largest selection of audiobooks and original audio performances anywhere - get a free audiobook and start a day free trial by signing up at audible.
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