3. 1
GlassFit is the world's first augmented reality exercise
gaming platform for Glassware, primarily Google Glass.
Race against a virtual avatar of yourself, against friends or
celebrities, or flee from zombies - pursuing at your target pace.
We are going to change exercise forever.
We are going to make it
really. really. addictive.
2.4m
Summary
4. Sometimes I run in the park.
2.4m
Me
Pace: 7min:32s/km
Problem
2
I love it but it’s very repetitive.
5. My run would be far more exciting
if I were pursued by zombies.
2.4m
36m Ahead
Zombie Horde
Pace: 6min/km
Me
Pace: 5min:50s/km
Solution
3I’d run harder. I’d run faster.
6. My 100m would be
better vs. Usain Bolt
Me
Distance: 98m
Time: 18.734s
Bolt
Distance: 99m
Time: 18.734s
Lap 2
Solution
Erg training would be
a breeze if I were on
the water
Cycling would be
brilliant if I could
compete against
friends
John – Box Hill
Distance: 1.363km
Cadence: 61rpm
Me – Box Hill
Distance: 1.364km
Cadence: 77rpm
Coach’s target speed
Distance: 7.4km
Target stroke: 21spm
Me
Distance: 7.2km
Stroke: 24spm
reduce stroke rate!
4
7. The ultimate motivator for me
would be to race…
2.4m
Solution
Me – Average 5k time 2013
Pace: 6min:27s/km
Distance: 3.3 km
Pulse: 169bpm
136m Ahead
Me – today - 5k
Pace: 5min:50s/km
Distance: 3.4 km
Pulse: 182bpm
Me – Personal Best - 5k
Pace: 5min:34s/km
Distance: 3.5 km
Pulse: 195bpm
5
59m Behind
… against myself
8. Team
Ben Gamble
Back-End / Gamification / Camera-Corrected Projection
Alex Foster
Front-End / Project Management / Design
• Experience in mergers and acquisitions
(Rothschild and Citi) and in Venture Capital
(WPSChallenger)
• Knowledge from leading three previous part-
time entrepreneurial projects
• Holds a Masters in Engineering from University
College London
Fun Fact: Once hired to photograph Emma Watson for an evening
without recognising her. Her “do your sexy face” is framed on his wall.
Fun Fact: Once played his very own augmented reality submarine battle
game with a roundtable of defence contractor CEOs. He lost, the charmer.
• SLAM and app specialist programmer
• Ben set up the P.A.Consulting’s augmented
reality offering and as a result brought in more
than three million pounds in fees for the firm
• Holds a bachelors in Astrophysics from Leicester
6
9. We call the technology
behind our platform
Camera Corrected Projection.
It's a battery-light and
CPU-light version of
augmented reality.
Technical Competitive Advantage
Screenshot from our concept video found at www.glassfitgames.com
Game 19 - Fire Escape: Is it me or are those flames approaching
at exactly my personal best 10k pace? 7
Our prototypes from feasibility testing
are available for demonstration
10. Business Model
Our business model mirrors the free-to-play model. It has
been popular in the gaming market recently and very
successful, when executed correctly.
Games can be unlocked through buying them or through
earning them. Users are rewarded with credits for
exercising and for reaching their goals.
Credits can be used to unlock
the premium games for free.
Please flee responsibly. Tap once or stop moving to pause.
Safety is primary and we’re building it into our design. 8
2.4m
11. Business Model
Two panes from our UI concept graphics for the main menu
As a user unlocks games for free he or she
will want to unlock additional games.
Once a user pays for their first game,
he or she can more easily justify
spending again.
Game 22 - Personal Trainer: Like having a real PT running alongside.
Professionally curated training plans. No trains. 9
12. Funding Strategy
Game 31:
When Glass is waterproof – we will go there
We will be to Glass as Wii Sports is to the Wii.
The definitive application that has consumers thinking:
“that is why I am going to buy Google Glass”.
To achieve this goal our funding requirement for the year ahead is estimated
at £400,000. This is primarily to take on sufficiently experienced
developers and for marketing.
Our funding strategy is to do a partial pre-MVP raise now,
launch a pre-sales campaign following the completion of our MVP
and complete our seed raise early next year.
For a more complete financial plan, please see financial forecasts document
www.glassfitgames.com
alex.foster@glassfitgames.com
ben.gamble@glassfitgames.com
07742778039 10
14. Appendix A: Achievements and Milestones
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Race Yourself
born
2013 2014
Rebranded
to GlassFit
Exercise
Games
Awarded complementary office
space by London council
Expected Glass
release
Technical feasibility testing
Iterative brand design/testing
Amanda
joins
team
part-
time
MVP Completion
Amber
joins
team as
part-
time
intern
Both founders switch to full-time
Feasibility tests complete.
Outcome positive
For a more complete strategy, please see business plan
Platform MVP development Platform completion
Development of first three games
Website went live. 400 likes and
20,000 video hits in first week
Our two most requested games:
1) Zombie interval training
2) “Running with Dinosaurs” 11
Business scaling
Hype period
Now
Presales Campaign
15. Appendix B: Market Projection Analysis (FY1 = Aug13 - Jul14)
12
Four year projection overview (£’000)
0.7
2.1
4.22.0
3.8
7.6
0.2
2.8
5.9
11.7
(3)
(1)
1
3
5
7
9
11
13
15
FY1 FY2 FY3 FY4
£m
Expenditure
Profit
Projected revenue breakdown based on assumptions (£m)
0.4
-
2
4
6
8
10
12
14
16
FY1 FY2 FY3 FY4
£m
HI / LO
case
Cash raise
Net
cumulative
Cumulative net cash based on assumptions (£m)
Model drivers and assumptions
For more information, please see financial forecasts document or we can provide the underlying model
16. Appendix B: Selected Notes to the Market Projection
14For more information, please see financial forecasts document or we can provide the underlying model
Major assumptions:
1) We assumed that Google Glass, our primary platform, has medium uptake. It
neither flops nor becomes a viral hit. This said, we consider the risk of the prior
is offset several times over by the probability of the latter. Another factor not
modelled here is successfully gaining the identity "that is why I want to buy
Glass". In this case we could expect a very high percentage of Glass buyers to
download and also convert
2) We assume we can double our userbase each year. The underlying platform
will be growing as well which supports this assumption
3) As a platform off which we make sales, we have modelled GlassFit as free
downloads that convert to active users at a given conversion rate (50%). The
average active user has no subscription fee but is assumed to buy one game
every 3 months at the average game price. Active users cease being active users
at a given churn rate (20%pm). Only five games have been modelled as it is
assumed that further games will be mostly relevant to old users and will not
effect the average game price
4) Peripherals sales such as heart rate monitors and speedometers are assumed
to have a much lower sale rate. They are more expensive and appeal to a smaller
market. This said, their rate of sale is very sensitive to how well marketed they
are in-app. Case in point: the contrast between RunKeeper and Runtastic
5) VAT and sales tax are collected by the Google play store and it is included
within the sales price
6) Peripheral margins are assumed to be c.50% (VAT inclusive). This is based on
preliminary investigations and experience with the embedded electronics
market
7) From press and statements, Google Glass is expected to be released early
2014 so we have assumed 01/04/2014
8) We have assumed a successful Kickstarter campaign in November to
generate hype and make pre-sales. This will help fund a further pre-release
However, we are also approaching large investment firms such as the
members of The Glass Collective. The effects of a partnership with one of
these organisations would go well beyond further capital and would be
difficult to estimate. For instance, promotion as a featured application by
Google could double or triple revenues. As such we have projected based on
a successful Kickstarter campaign and modelled it as an equity raise
10) Other business areas and revenue streams that we could expand into
have not been included
11) Whilst we will release our software on other smart glasses when they
come out, information is limited and so we have not modelled for this
