|Radiant Arc Techstars Application Form|
|radiant arc demo|
1. Please describe your business in 140 characters or less.
Radiant Arc is making a lantern that runs on a AA battery and a device that reduces power consumption of any lamp.
2. In more detail, what will your company do or make? What's new, interesting, or different about what your company will do?
We are designing a 10-watt CFL lantern (equivalent to 40-watt incandescent) that runs on a AA battery. Currently, you can buy a 7-watt fluorescent tube lantern (equivalent to 10-watt incandescent) that runs on 4 D batteries. We will support a brighter CFL bulb and reduce the battery requirement. This is useful while camping or when power goes out, e.g., during a hurricane. This can light homes in Africa and Asia that do not have electricity. A solar panel can charge a AA battery and the AA battery can run the lantern. Also, we are designing a device that goes in between any lamp and the wall outlet which will reduce power consumption. This device will save home and business owners money from their electric bill - hotel owners should see big savings. In the future, we will explore other applications of this technology.
3. Explain how the company will make money RadiantArc will make money by selling two products.
First, a lantern that runs on a AA battery, which every household should have in case of a power outage. Second, a device that reduces the power consumption of existing lamps (plug any lamp to the device and plug the device into the wall outlet). This will help businesses like hotels, coffee shops and office buildings save money from their electric bill.
4. Please provide information on current or likely competitors. Include key differentiators. Please include URLs.
We are creating a lantern with a CFL bulb that runs on a AA battery. Current lanterns with fluorescent tubes need at least 4 D batteries. We are reducing the battery requirement compared to what's out in the market. Our competitors are lantern manufacturers. They are also battery manufacturers, e.g., Energizer and Rayovac. It is in their best interest to keep the status quo so they can continue to sell more batteries.
5. Please provide information on money the company has already raised, and any information on fundraising plans for the future.
In the future, we are planning to raise funds through Kickstarter.
6. Please describe current progress or traction. Include customers, user metrics, revenue, or any other indicators of progress.
Currently we have a prototype that lights multiple LEDs. We are working on the prototype that lights a CFL bulb with a AA battery.
7. What is your next hire or addition to the team, and how will you find them?
Rafael knows a guy who does marketing who wants to help us.
8. What keeps you up at night?
Visualizing a future where every home has our lantern and power consumption is reduced by our device.
9. What's been the biggest surprise thus far in working on your company?
How nobody is doing this yet.
10. Why are you applying to TechStars and what do you want to achieve by going through the program?
Having mentors, specifically TechStars mentors, is invaluable.