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InnoCité MTLJuly 2015
Enabling on-demand mobile office for everyoneLouise Guay SmartMoov Inc.
TheInterspaceNetwork
SmartMoov The Interspace Network 2
Why a Coworking Network? Coworking spaces are operating in
solo. Low profitability for all. Sharing online management tools is a
must. Workers are mobile.
Professional opportunities are lost. Nurturing a larger community base is a
must. Real-estate cannot yield its full
potential. Barrier of entry for new coworking spaces. Fostering new operators to grow the
coworking network is a must.
SmartMoov The Interspace Network
On-demand Working SpacesInteroperability & Mobility
3
SmartMoov 4
Market Forecast
(2014 data) World USA QuébecExisting coworking spaces
2500 1400 15
Annual growth rate (%):2010-2014 +100% +100% +56%2015-2019 +30% +30% +30%
The Interspace Network
SmartMoov 5
Core Service OfferingAccess Control, Booking & Billing System Real-time resource
inventory Cloud-based Smart locks Smart card / Bluetooth
connectivity
On-demand rental management Seats/desks Meeting rooms, offices
Integration with existing booking APIs
The Interspace Network
SmartMoov 6The Interspace Network
Access Control
VPN-1
Interaction w/ booking
applications, invoicing, website, social networks
& on-site displays
Booking appsRemote
management client
Mifare smart card
VPN-2
KABA System 6000
Server
Smart locks
RFID Encoder
Card reader Card reader e-Lockmessenger
Mifare smart cardSmart locks
Keycard only Keycard + Bluetooth Bluetoothsmartphone
SmartMoov 7
Online Booking System Integration
The Interspace Network
SmartMoov
The Interspace NetworkFor everyone, 24/7 User Benefits
Professional working environment▪ Hi-speed Internet▪ Wi-Fi▪ High-quality printers▪ Videoconferencing
Networking▪ Collaboration▪ Community▪ Seminars, events▪ Car-sharing▪ Insurances▪ E-bank, E-health, E-learning, etc.
300 shared spaces in 5 years
In cities, suburbs & regions Average size: 45 seats Total capacity: 14,800 seats Member/seat ratio: 5:1 Total membership:
74,000 people
The Interspace Network 8
SmartMoov The Interspace Network 9
Value PropositionFor Users Office as a Service
Keep low pricing Costs shared between users
Mobility across the Interspace Network Ease of use Proximity services
Larger community base Increased professional opportunities Increased knowledge sharing
SmartMoov The Interspace Network 10
User Values Community
Our place / home Sense of belonging Inter-generational
Smart City Mobility Flexibility Gamification
Sharing economy Co-creation Local development Resource optimization Sustainability
SmartMoov The Interspace Network 11
Value PropositionFor Operators Real-time resource management
Increased revenues Increased flexibility
Connecting work spaces together Lowering barriers for new operators Helps growing the market fast Collaboration is attractive to customers
Co-marketing benefits Increased customer base Events, seminars, etc.
SmartMoov The Interspace Network 12
67%
33%
Coworking Network
On-demand rentalLong-term rental
5%
95%
Solo Operator
Revenue Increase
Solo Operator Coworking Network - $
1,000 $
2,000 $
3,000 $
4,000 $
5,000 $
6,000 $
3,420 $
1,188 $
313 $ 4,188 $
Annual Revenue per SeatOn-demand rental
Long-term rental+44%
RevenueIncrease
For a typical single seat• 300$ / month• 25$ / day
Rental Distribution
SmartMoov The Interspace Network 13
Local Development Benefits
Time savings+ Fuel savings = More disposable revenues
Neighbouringstores & services
Potentialtenants
Currenttenants
Telecommuters
The Interspace Network 14SmartMoov
The Company
SmartMoov 15
SmartMoov Inc. Incorporated in Canada (2012) To market the work done
at Living Lab de Montréal (LLM) Agreement for a 6% royalties to LLM
The Interspace Network
SmartMoov The Interspace Network 16
Competitive Advantages Experienced entrepreneurs Commercial-level
access control system Real-time availability
management Smart locks integration with
booking APIs: Airdesk, Nexudus, Cobot, etc.
Technology partners Bureau-mobile, Kaba-Ilco,
Appointlet, Microsoft
Operating partners Signed
▪ Notman House (Mtl)▪ Caisse De Lorimier-Villeray (Mtl)▪ Strasbourg (France)▪ Luxembourg (Lux)
In discussion▪ L’Esplanade (Mtl)▪ CEIM (Mtl)▪ Barcelona (Spain)▪ Helsinki (Finland)
Prospects▪ La Gare Mtl▪ Quartier de l’Innovation▪ Santiago (Chile)
SmartMoov 17
Business ModelServicing coworking spaces License fees
Access control system Booking system Billing system Printing services Data reporting
Margins 1.75% on all transactions 20% on installed hardware
Premium services Usage data reporting to
end-users Value-added services
Office design Office furniture
The Interspace Network
SmartMoov
TeamLeaders: Skills:
Louise Guay Collaborative leadership &marketing
Claude Faribault User experience & administrationProfessionals :
Jean-Christophe Uhl Coworking space operation & marketing
Duc-Nghiep Vo Network administration Jean-Philippe Agaisse Coordination & animation Marie-Josée Frigon Office design
18The Interspace Network
The Interspace Network 19SmartMoov
Marketing
SmartMoov
Noah Redler (Notman House)
“We need stronger links with other startup hubs around the world - because no one ever said we needed to do this alone.”
Noah RedlerAUGUST 12, 2014 / IDEAS
Startup community: where do we go from here?
The Interspace Network 20
SmartMoov The Interspace Network 21
Competition (coworking networks)Name Product Market
shareOur strengths Our weaknesses Comments
Regus Business centres
20-33% SmartMoov pricing is more affordable to end-users.
Our prospect operators do not hold prestige addresses.
125$/day2000 centres, 750 cities, 100 countries
WeWork Coworking centres
2% SmartMoov allows members to freely move from one place to an other.
SmartMoov does not operate coworking centres directly.
50$/day43 centres, 16 cities, 4 countries
Breather Hourly rentals of private rooms
0,7% Breather may be threatened by AirBnB in its own niche (private rooms rentals).However, AirBnB cannot compete with SmartMoov for coworking spaces.
Breather received large funding (7.5 M$)
15$/h (Montréal - 7 places)20$/h (Ottawa - 3 places)25$/h (San Francisco - 7 places)30$/h (New York - 29 places)
SmartMoov 22
Competition (software)Name Product Shar
e(%)Our strengths Our weaknesses Comments
ShareDesk
Booking & billing s/w for coworking
72% E-lock access control.Members mobility.Interoperability.SmartMoov has smaller transaction fees.
S/w in development for North America.
2$/month/user20% transaction fees1800 centres, 70 countries, 439 cities
Cobot Booking & billing s/w for coworking
? E-lock access control.Members mobility.Interoperability.
S/w in development for North America.
445$/month (unlimited)? centres, 30 countries, 30,000 members
Nexudus Booking & billing s/w for coworking
28% E-lock access control.Members mobility.Interoperability.
S/w in development for North America.
3$/month/user (average)Between 10 et 80 members700 centres, 10,000 members
AirDesk Booking & billing s/w for coworking
? E-lock access control.Members mobility.Interoperability.
S/w in development for North America.
5-8$/hr/user?% transaction fees6 centres in Montreal
The Interspace Network
SmartMoov The Interspace Network 23
The New On-demand Supply Chain (Wiki Chain)
Affilates• Coworking
spaces
Users• Individuals• Startups• SME• Large
organizations• Government
Clients
Affiliated centres
Web platform• Subscription• Booking• Payment
1-800 line
Sales
Available spaces• Coworking
spaces• Technopoles• Caisses
Desjardins
Installation• Access control• Online services• Equipments• Design• Furniture
Network Development
Existing• Coworking
spaces• Incubators• Business
centres
In development• Caisses
Desjardins• Cities & towns• Commercial
spaces
Real Estate Inventory
Web• Social media• Mobile site
Contacts• HR Assoc.• Ch. of Comm.• CDEC / CLD
Caisses Desjardins• Branches• ATM screen• AccèsD
website
Distribution
Recruiting• Affiliates• Clients
Communications• Online services• Help desk• Terms &
conditions
Service optimization• Usage data
analysis
Marketing
Operators• Coworking• Hubs
Caisses Desjardins• General
managers
Real estate agents
Suppliers
SmartMoov 24
Clients & Prospects
The Interspace Network
CEIM
Desjardins-VillerayNotman House
La Gare Mtl INGO
L’Esplanade
SmartMoov 25
Licensing feesPer Operator
Annual subscription 195.00$ Monthly fees:
Per installed lock 62.50$ Per registered member 3.00$
Billing transactions (%) 1.75%The Interspace Network
SmartMoov The Interspace Network 26
Recruiting (operators)
Targets Coworking space operators
Notman, La Gare Mtl, L’Esplanade, CEIM, Technopoles, Cities, etc.
Property managers Caisses Desjardins, Cominar,
Ivanhoé Cambridge, Royalmount, Habitations Trigone, etc.
Channels #coworkingqc ACGRH (Assoc. des
conseillers RH du Québec) Chambers of commerce HÉC-Montréal Living Lab de Montréal
SmartMoov 27
Recruiting (members)
Targets Self-employed
Consultants, professionals Start-ups, young entrepreneurs,
free-lancers, etc. Students, active retirees, etc.
Managers & employees Governments Large organizations SMEs Foreign companies (soft landings) Education, health professionals,
etc.
Channels Outdoors
Events Pop-up, etc.
Social networks Facebook Twitter
Mobile website Service description Subscription & booking 1-800 line
The Interspace Network
SmartMoov The Interspace Network 28
Sales Strategy Global
Sales team Mobile website Social medias Co-branding Games
Local Concertation Community of
communities Pop-up spaces Jam sessions Wall projections
The Interspace Network 29SmartMoov
Financial Strategy
SmartMoov 30
Funding (pilot)
First Investor100K$
12.2% in voting shares (cat. « A »)
Pre-money valuation:
Second Investor75K$
9.2% in voting shares (cat. « A »)
644K$
The Interspace Network
SmartMoov 31
Use of Proceeds (6-month pilot)Budget (000$)
For a 6-month period Software development 75Installation costs 85Operation costs 37Marketing 2Communications 1Administration 37Other (legal, insur., etc.) 24Sub-total : 261
MINUS:Sponsorships (58)Revenues (28)Sub-total : (86)
TOTAL: 175
The Interspace Network
SmartMoov 32
Projections (3 yrs)(000$) 2016 2017 2018Revenues 1,198 7,370 8,283Direct costs 2,356 3,570 1,530Gross margin (1,159) 3,800 6,753Gross margin (%) -97% 52% 82%Sales costs 580 580 580Administrative costs 146 146 146EBITDA (1,885) 3,074 6,027EBITDA (%) -157% 42% 73%
The Interspace Network
SmartMoov 33
Exit Strategy Expanding office rentals to suburbs &
regions: WeWork Regus Plc
Diversifying market of access control resellers: Genetec Protectron
The Interspace Network
The Interspace Network 34SmartMoov
Thank you!