Bmh2019-900
ParkOur
Location: Nusa Loka i1/5, Jl. Samosir, Sektor XIV-4, BSD City, Tangerang, Indonesia Indonesia
Founded in: 2017
Stage: Napkin (idea)
Number of employees: 1-5
Short URL: vator.co/parkour
Followers (1)
Vatorx1

ParkOur

OUR (Online, Ubiquitous, Real-time) Parking Solution
Startup/business
Tangerang, Indonesia Indonesia
http://renhard.net/parkour
  • About
Company description

ParkOur is a smart parking IoT system built to help reducing average parking spot search duration that contributes to 30% of global city congestion by providing a new, hassle-free way to search, reserve parking spots, and pay it digitally with only few taps on your phone. IoT technology enables the system to automate of the identification process, enhance security, and enable advanced features e.g. indoor navigation. It aims to become a one-stop shop for parking solutions both for parking providers and users.

ParkOur is built to help simplify the process of obtaining parking slot, which is a constant source of frustration for 1.3 billion car owners globally and one of key contributor to mobility issues on large cities across the world, with the following details:

  • Drivers spending on average 15-25 minutes searching for a parking spot
  • 30% of city traffic caused by drivers searching for parking
  • Drivers abandoning the search altogether and driving somewhere else
  • A quarter of drivers were engaged in arguments on parking spots

All above has generated a waste of time, fuel and nerves, additional congestion, CO2 emissions, and lost economic productivity.

We plan to address the US$90 million market within Jakarta & Singapore in the first 3 years, before expanding to US$300 million market in Southeast Asia and US$1.2 billion market in Asia Pacific in the following years.

Our business model is differentiated into both B2B and B2C, with the latter acts as our primary monetization source which accounts for ~70% of the total revenue in the first few years. We projected US$110k revenue with US$150k operational expenses on the first operational year period, when the initial market penetration is conducted. Profit is expected to turn positive on the following year.

Our adoption strategy will follow the lean startup methodology, with rapid iteration on product development based on user’s feedbacks to gain product-market fit, and further differentiated between B2B and B2C model.

  • B2B : Initial offering is started with flat subscription fee model to reduce adoption barrier, followed by freemium and profit sharing models along with advanced analytics, surge pricing, and P2P platform feature implementation.
  • B2C : Initial adoption is driven by freemium model, followed by addition of e-Valet model (fee differentiation based on parking spot preferential position), expansion of freemium to tiered subscription fee structure, and implementation of surge pricing mechanism to better balance the supply-demand fluctuation.

Our main competitive advantages are :

  • Real-time online parking spot reservation, with ability to choose exact spot position through mobile app with high reliability.
  • Prorated parking fee calculation, compared to flat hourly-rated parking fee conventional model.
  • Theft prevention system through implementation of 2-layer identification process (car license plate and driver’s phone account)
  • Advanced features offering premium parking experience such as indoor navigation and self-driving car integration

Our team consisted of cross-functional experts with deep experience in relevant industries and fields. Nathaniel Chandra Harjanto possesses cross-functional and multi-industry experience in addressing top level management issue as part of McKinsey & Company and created “The HEP Game” and “RunningCollider”, particle accelerator simulators app, at CERN. Hans Chandra delves actively in the field of IoT as part of Human Computer Interaction dept. at Surya University and has published  2 international papers on IoT at IEEE and Scopus. Gibran Erlangga has deep experience in business intelligence, data analytics, and operations at GO-JEK, a ride-hailing service company based in Jakarta, and a co-founder of Adhmora, an energy monitoring IoT system provider startup.


https://youtu.be/R2jHm8TvZN0

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Team
Business model

Our business model is differentiated into both B2B and B2C, with the latter acts as our primary monetization source, which accounts for ~70% of the total revenue in the first few years.

1. B2B model (for parking providers - building owners / parking management service company)

Monetization encompasses both hardware system and software solutions (app, web, and database)

  1. Parking system installation fee ~ US$ 80 / parking slot + US$ 210 per building for barrier sensors
  • Hardware (smart sensors & camera) cost
  • Hardware installation service fee (one-time)
  • Software solutions (app / web & database) installation fee (one-time)
    1. Monthly subscription fee (including utilization & maintenance cost) - tiered fee structure based on parking space numbers
  • Tier 1 (small space) : < 50 slots ~ US$ 160
  • Tier 2 (medium space) : 50-99 slots ~ US$ 320
  • Tier 3 (large space) : 100-149 slots  ~ US$ 480
  • Tier 4 (very large space) : > 150 slots ~ US$ 480 (for the first 150 slots) + US$ 3.5 (for each additional slots)

2. B2C model (for parking users - vehicle owners)

Freemium structure

  1. Free users:
  • No subscription fee
    1. Premium users:
  • Monthly subscription fee ~ US$ 10 / month
  • Access to advanced features such as parking availability forecast through advanced analytics, indoor navigation, P2P, and automated parking systems
  • Premium users receive priority access during peak time on the building
    1. Building tenants will get free premium account and access to a number of parking slots in the building
    2. We take 10% of total parking fee as our service charge
Competitive advantage

Current parking solution in Southeast Asia and Asia at large offers simplicity (manual identification of parking availability) over reliability e.g Jukir, Parkiran; Some also focuses more on information provision without reservation capability.

 

ParkOur aims to fulfill both high reliability in identification of parking availability and parking reservation capability through the utilization of IoT system, which enables further convenient features for parking users and providers, creating a one-stop shop for parking solutions.

Our distinctive competitive advantages:

  • Real-time online parking spot reservation, with ability to choose exact spot position through mobile app with high reliability.
  • Reliable & accurate system (in identifying parking slot availability)
  • Pro-rated parking fee calculation (allows parking users to save money, prevents rushing to avoid the next 1-hour increment charge for only a few minutes excess, often devaluing the positive experience for building visitors, especially at entertainment / recreational place like malls
  • Theft prevention system through implementation of 2-layer identification process (car license plate and driver’s phone account)
  • Advanced features (indoor navigation, P2P parking feature, advanced analytics for parking availability forecast and visitor's pattern analysis, automated parking features integrated with self-driving car technology)