Photo - Tru-Spot Technologies
play_arrow
View
50776

Tru-Spot Technologies

Augmented App for virtual fan seating at large scale venues

USA, Mississippi
Market: Virtual and Augmented Reality
Stage of the project: Prototype or product is ready

Date of last change: 04.01.2021
Rating
equalizer from 2000
help
Calculated and estimated occupancy of the project (more about ratings)
My rating
1
2
3
4
5
6
7
8
9
10
Average rating:

Idea

The TRU-SPOT AR Fan App enables sports fans or concert goers the ability to participate inside real-time live sport arenas or concert venues without leaving the comfort of their home, as a viable solution to social distancing.

The (App) is also used as a distance measurement system using machine learning, visual recognition algorithms, and a visual positioning service used indoors/outdoors for purposes of establishing yardage measurement in an American Football game.

Current Status

Tru-Spot's mobile app prototype has been completed. Our capital asks of USD $2.5M will be utilized in a phased approach to finish the app’s advancements, to build up a business and attractive presence inside the sporting industry, and influence our innovation over an expansive range of high capacity seating.

We are looking for more than a financing source. Our quest searches for imperative associates, or business partnerships that will consider this entryway as the new normal for all related fan‐based experiences. Our ideal decision is to have a financial investor who draws in with the Tru‐Spot association, helping with the scaling of the business, which we imagine is IPO sometime in the not so distant future.

Market

Our initial outreach will be to High Schools, NCAA Collegiate level sports teams, to include Historically Black College & Universities (HBCUs). Eventually, we will expand our offering to professional teams.

We will also target smaller arenas and concert venues for entertainers and performers, creating virtual live music experience on an intimate level with the fan or concert goer.

We will target independent film festivals, large movie houses such as AMC, for virtual film releases and screenings as a source of additional revenues for these venues.

Founders are military veterans. As military vets, we also have a deep
network of other vets within the athletic community.

Total addressable market estimated - 60 million ticket/seats available worldwide, revenue opportunity amount to USD $6.4 billion.

Any platform or venue benefiting from virtual fan attendance.

Problem or Opportunity

PROBLEM/OPPORTUNITY
• The coronavirus pandemic has sent shockwaves around the world, leading to a public health emergency that has killed thousands and plunged the global economy into what the International Monetary Fund warns could be the sharpest downturn since the Great Depression.
• Not surprisingly, COVID-19 has also upended the sporting calendar, with professional leagues everywhere suspending their activities to limit the spread of the virus. Even the Summer Olympics, typically one the world’s most-watched sporting broadcasts, has been pushed back a year.
• Social distancing measures, brought in to limit the spread of coronavirus, have had a significant effect on sporting fixtures.
• Every aspect of sport has been affected, from the athletes themselves to media coverage.
• Lost revenue and ticket sales for mainstream sporting events and concerts has become a reality for franchise owners, arenas/stadiums and fans, as the battle with coronavirus still lingers
• The global value of the sports industry was estimated to be $471bn in 2018 – an increase of 45% since 2011 – and before coronavirus stopped play, the only trajectory seemed to be upwards. Now, every part of the sporting value chain has been affected, from athletes, teams and leagues, to the media that broadcast and cover games.

Solution (product or service)

SOLUTION/PRODUCT
• Until social distancing restrictions are fully lifted, stadiums and concert venues could utilize our technology to fill the avoid seats, based upon limited capacity. Our technology is fully scalable and adaptive to any situation for any largely crowded arena – worldwide.
• Times of change require investments in the future. Franchise owners and stadiums are chasing fans to help retain, recover, or recruit amid a sea of cheaper entertainment alternatives and increasingly lavish home viewing environments.
• Teams and stadium owners are desperately searching for ways to invest in a holistic remote approach to optimizing the stadium experience around the fan.
• The TRU-SPOT AR Fan (App) used in conjunction with Augmented Reality features for purposes of online virtual seat purchasing. The AR combined with positioning technology allows sport’s fan or concert goer to partake inside the real-time live sport arena, or concert venue without leaving the comfort of their home. Furthermore, we integrate the virtual experience of Sight, Sound & Feeling, just like you would observe through being physically present at the event.
• Imagine….Immersion of the live event without being there physically, enabling fans to have enjoyable remote experience.
• Our (App) is also used as a distance measurement system using machine learning, visual recognition algorithms, and a visual positioning service used indoors/outdoors for purposes of establishing yardage measurement in a football game. The location and measurement technologies are used in conjunction with a mobile application device for displaying measurement results.
• The excitement of the spot measurement is still maintained in the integrity of the game, and is still controlled by the official. Allows an official or designated individual to conduct a close-up, spot measurement of the football using a hand – held mobile device, chest mounted device, or a device mounted to a SkyCam.
• There is also an option to add team logos, schedules, player position and stats.
• Created to revolutionize the football industry, and give fans a live-action, close-up view of yardage measurements with real-time technology.
• Provides the position and spot measurements of a football using technology, while at the same time, provides an interactive experience for the fans.
• Interactive mobile app functions such as first down yardage measurement (football) for fans to truly feel a part of the team, not just watching the team.
• The excitement of the spot measurement is still maintained in the integrity of the game, and is still controlled by the official. Allows an official or designated individual to conduct a close-up, spot measurement of the football using a hand – held mobile device, or a device mounted to a SkyCam.

Competitors

Intel "TrueView" System

Microsoft Teams

Twitch TV

YouTube Live

Advantages or differentiators


Tru-Spot AR Fan App advantages over competitors

• Fan View Control
• Live Community/Crowd Engagement
•Virtual Venue Amenities
•Virtual Tailgate
•360o Fan View & Control
• Mobile, & Browser Compatible Applications
•Fan 2‐way In‐Seat Communication
•AR/VR Venue Amenities & Features
•Multiple Tickets Per Virtual Seat

Finance

We are raising $2.5M in seed capital to finish application development and launch our immersive virtual fan experience (6 - 8 month runway)

We are targeting $110 avg. ticket price in Y3 across 40 mid-to-large size venues.

Forecast Y1 - Y5:
Y1 - $5,298,610
Y2 - $6,203,250
Y3 - $7,266,789
Y4 - $8,517,940
Y5 - $9,990,900

Business model

TRU-SPOT TECHNOLOGIES’ approach to business can be summed up by a simple belief: “To develop a great mobile app that end users will appreciate as being interesting, enjoyable and useful”.

The Tru‐Spot AR Fan App and business model allows fans to purchase virtual seat assignments for major venues such as sporting events, concerts, or any place with a large fan presence. Envision buying a virtual seat to watch a soccer game or concert on the opposite side of the world, with a real‐time augment experience to include sight, sound and feeling of attending the actual venue.

Innovation and end-user appeal are very important to the success. The mobile app will expand very quickly, and TRU-SPOT Technologies intends to keep up with the explosion of mobile devices so that it can develop and monetize the app as soon as new devices hit the market. One of its next areas to focus on is the nascent wearable computer and AR tech market, which is being spearheaded by devices such as Apple Watch and smart-watches powered by the Android mobile operating systems. Also, expansion to concealed mini body cameras embedded in Tru-Spot sporting - casual apparel, to include caps. women handbags.

We will work with influencers in the sports community, hyper target sports fans for social ads, and offer a first-30-days-free trial for fans to be able to tune into virtual live sporting experiences from home.

Source - Statista:
TAM
Global Sports & Music Events
$40.63B
Ticket Revenue
Dropped to $17.35B in 2020
-57.3%

SAM
US Sports Events
$18.07B
Ticket Revenue
Dropped to 4.45B in 2020
-55.8%

SOM
NCAA Football Games
$1B Ticket Revenue
Top 24 teams gross their athletic
departments over $100m per
season

SOM
Small Venue Concerts/Live
Shows
$1.1B
Ticket Revenue



Money will be spent on

Funding Request:

Legal, Insurance $125,000
Admin, Social Media $ 85,000
Development, 1 Platform $1,459,200
Staffing (2) $250,000
Travel Meetings & Accommodations $100,000
Contingency - 20% $418,800
Total Startup Expenses $2,437,000

Offer for investor

Open to negotiation, ownership percentage, revenue/profit sharing, future first right of refusal for new AR/VR tech developments.

Team or Management

Risks

The coronavirus pandemic has left the sports world's future very unclear. There is still no certainty as to when the major sports leagues in America can resume play, and to what extent.

Same for concert venues and movie houses. However, we feel strongly that a a large number of fans will be hesitant to resume large fan gatherings for next several years.

Incubation/Acceleration programs accomplishment

None so far.

Won the competition and other awards

Have received national press coverage and articles.

http://www.digitaljournal.com/pr/4892953

https://pelahatchienews.com/pandemic-results-in-new-pelahatchie-company-going-worldwide/

http://markets.ask.com/ask/news/read/40685207/tru



Invention/Patent

Presently, Patent Pending. Intellectual Property rights have been secured with the USPTO, in the areas of Trademark and Patent Protections.

Photos

Photo 1 - Augmented App for virtual fan seating at large scale venues
Photo 2 - Augmented App for virtual fan seating at large scale venues
Photo 3 - Augmented App for virtual fan seating at large scale venues
Photo 4 - Augmented App for virtual fan seating at large scale venues
Photo 5 - Augmented App for virtual fan seating at large scale venues

Product Video

5,00
1
2
3
4
5
1 voice
Sign in/Sign up
arrow_back
EN
more_horiz
close
visibility34
star1
Add to favorites
Delete from favorites
share
close
thumb_up2
Like
Unlike
Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video