SSEP 2009 foils

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Air presentation at SSEP 2009 conference

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SSEP 2009 foils

  1. 1. air Semiconductor New Enterprise Success Story for Swindon (and impact of the 2008 / 2009 venture investment crisis) David Tester Founder & CTO
  2. 2. New Enterprise Success Story for Swindon … and impact of the 2008 / 2009 venture investment crisis … - The Market Opportunity - Why Swindon? - UK semiconductor technology clusters - Swindon Innovation Centre & Silicon South West - The M4 - Air Semiconductor - Founders, Investors and the Air Team - Journey from initial idea to prototype and customers - GPS 2.0 and the digital camera market - Follow-on markets for proactive GPS - Development Costs and Investment - Impact of the 2008 / 2009 semiconductor venture investment crisis - Summary and Q&A
  3. 3. The Average (Good) Working Day in a High-Tech Start-Up
  4. 4. The Average (Bad) Working Day in a High-Tech Start-Up
  5. 5. Sell Tesco’s car park to Sainsbury’s Car park Special offers at Sainsbury’s today! Press # for directions 1_.@ 3 DEF 2ABC Location targeted advertising is only possible with 4GHI 6 MNO 5 7 ‘Always-ON’ positioning in mobile phones PQRS JKL 9 WXYZ 8TUV # * 0+
  6. 6. ‘Always-ON’ GPS The Key to Proactive Location Based Services Nokia 6233 Motorola RAZR V3i Samsung E900 SEMC K610im LG KG800 Chocolate BenQ-Siemens SL91 Minimum standby Minimum standby Minimum standby Minimum standby Minimum standby Minimum standby current: current: current: current: current: current: 2.1 mA 2.4 mA 3.6 mA 2.6 mA 4.0 mA 3.1 mA Average current*: Average current*: Average current*: Average current*: Average current*: Average current*: 7.3 mA 7.8 mA 8.3 mA 9.4 mA 8.3 mA 9.9 mA * Current draw based on “average” use assuming battery recharge once every 4 days How often does phone battery needs to be recharged if GPS active? GPS must be limited to 1-2mA (or 10% of phone power)
  7. 7. GPS 101 Receive Power is -130dBm to -160dBm … 20dB to 50dB below the Thermal Noise Floor! Earth radius 86 k m 35,7 6,378 km km Geo-stationary 100 19, Regional geo-stationary augmentation satellites 0 km 20,20 WAAS Wide Area Augmentation System – USA EGNOS 23,222 km European Geostationary Navigation Overlay System – Europe GPS 6 orbital planes; 55° to equator Galileo Moon Galileo Approx. 400,000 km 3 orbital planes; 56° to equator GLONASS GPS 3 orbital planes; 65° to equator Orbit 11 hours 58 minutes 13,900 km/h GLONASS
  8. 8. Air Invents Continuous Adaptive GPS … offers both Low-Power & Position Accuracy Accuracy Low-Power Competitor Air
  9. 9. Summary of UK Semiconductor ‘Hot Spots’ Silicon Glen Silicon Alley Silicon Fen UK Semiconductor Locations Semiconductor Locations around the M4 Sources: NMI Design Survey Report 2006 NMI Members Map: http://www.nmi.org.uk/about-us/members/members-map
  10. 10. Location, Location, Location: Swindon and the M4 US 12/039,865 and US 99/999,999 Tracking Loops for Always-ON GPS Receiver
  11. 11. Silicon South West and Swindon Innovation Centre
  12. 12. Overview of Air Semiconductor Investors, Awards and Founders
  13. 13. The Air Team David Tester Hugh Thomas Founder & CTO CEO Steve Graham Andy Heaton Hank Izumi Co-Founder & VP Marketing VP Operations VP Sales Asia RFIC Design System Design ASIC Design Software Design Staff Staff Staff Staff Employee #1 (20 years experience) Employee #3 (20 years experience) Employee #4 (10 years experience) Employee #7 (20 years experience) Employee #2 (20 years experience) Employee #1 (20 years experience) Employee #5 (15 years experience) Employee #8 (15 years experience) Employee #6 (15 years experience) Contract Contract Contract Contract #1 (15 years experience) Contract #3 (20 years experience) Contract #8 (20 years experience) Contract #2 (15 years experience) Contract #4 (20 years experience) Contract #9 (15 years experience) Contract #5 (20 years experience) 2x Synopsys IC layout contractors Board of Directors Support Staff Hugh Thomas CEO ex-CEO TapRoot 1x General Admin 1x Finance Manager David Tester CTO ex-CEO Andromedia (acquired Macromedia ‘99) Kent Godfrey Pond Ventures ex-CEO Frictionless Commerce (acquired SAP ‘06) Michael Gera Pond Ventures ex-CEO PortalPlayer (NASDAQ: PLAY) Gary Johnson Independent ex-CEO S3 (NASDAQ: SIII)
  14. 14. Initial Idea (in 2005) to Prototype Silicon (in 2009) Dual-Mode GPS system design Dual-Mode GPS software design Acquisition DSP Tracking DSP Architecture Architecture Tracking DSP Tracking DSP Implementation Implementation Acquisition DSP Implementation J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D Radio IC Radio IC A1250 A1250 silicon evaluation Implementation Implementation IC design Air tracks GPS satellites with RFIC Tracking DSP March ‘08 Architecture RFIC + FGPA platform PVT & May ‘08 Kalman Filter Air tracks GPS satellites with RFIC + FPGA A1225 RFIC (v1) June ‘08 April ‘07 Air first PVT, confirms lab in Swindon June ‘08 A1225 RFIC (v2) A1250 single die GPS receiver February ‘08 January ‘09 J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D 2006 2007 2008 2009 J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D Electra Start-Up of the Year 2008 November ‘08 Gary Johnson joins Board of Directors 2x NASDAQ CEO (PortalPlayer & S3) IET Start-Up of the Year 2008 May ‘07 November '08 Prof Izzet Kale joins Technical Advisory Board October ‘08 Engage with TSMC for silicon Sept ‘06 Demonstrate GPS technology July ‘08 Development starts! June ‘06 Recruit external CEO May ‘08 Air Inc + Ltd incorporated May ‘06 Red Herring 100 Europe 2008 April ‘08 Series-A Termsheet April ‘06 Exit stealth mode Announce 1st product January ‘08
  15. 15. airwave1 system development platform and prototype sample silicon module
  16. 16. Prototype Product Performance Unfiltered CEP50 position accuracy is 2.8 metres Push-to-Fix TTF @ -130dBm: 2.5s Push-to-Fix TTF @ -150dBm: 2.5s (Future push-to-fix TTF will be <1s) Unaided cold start: -140dBm Unaided hot start -150dBm (Future hot start sensitivity -154dBm) Tracking sensitivity: -152dBm (Future tracking sensitivity -160dBm) Plot shows 20m (x axis) by 20m (z axis) Positions grouped into 20cm x 20cm bins Stationary receiver over 12 hour period
  17. 17. Air Technical Demonstration Platform … in Japan
  18. 18. Air Technical Demonstration Platform … in USA
  19. 19. GPS with airwave1 silicon
  20. 20. Initial Market: Digital Camera Market and Geotagging GPS enabled DSC's DSC shipments 160 M 164 M 150 M 155 M 146 M 62 M 38 M 22 M 9M 2008 2009 2010 2011 2012 GPS modules developed by DSC partners
  21. 21. Customer Status: 174 Active Customer Leads Markets: Camera, Cellphone, Laptop PC, Netbook, Digital Watch, Asset Tracking 37 active leads generated proactively by Air Including: Ability; Apple; Canon; Casio; DoCoMo; Foxconn; Fujifilm; LG; NEC; Nikon; Nokia; Olympus; Panasonic; Pentax; Ricoh; Samsung Electronics; Samsung Techwin; Sanyo Digital Imaging; Sony Ericsson; Softbank; Sony 20 active leads from VC introductions Including: Google; Motorola; O2; Spreadtrum; Swatch; Vodafone 117 unsolicited enquiries resulting from PR activity Including: Mediatek; Microsoft; RIM; Altek; Fujitsu; Hitachi; HTC; Mitac; Compal Proactive VC Introductions Unsolicited enquiries
  22. 22. CSR / SiRF follow Air Semiconductor Always-ON
  23. 23. Monthly Burn ($K) $50 $100 $250 $300 $350 $400 $450 $500 $600 $150 $200 $550 $0 Jun… Jul… Aug… Sep… Oct… Nov… 2006 Dec… Jan… Feb… Mar… Apr… May… Jun… Jul… Aug… Sep… 2007 Oct… Nov… Dec… Jan… Monthly Burn $K Feb… Mar… Apr… May… Jun… Jul… 2008 Aug… Sep… Total Burn $M Oct… Nov… Dec… Jan… Feb… Mar… Apr… May… 2009 Jun… Jul… Aug… Development Cost and Investment Profile Sep… $0 $1 $3 $4 $5 $7 $8 $9 $2 $6 $11 $10 Total Burn ($M)
  24. 24. Success = Vision + Market + Money + Timing + Execution + Luck

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