Entrepreneur He traveled to Monaco to look at Breed E1A flexible international series of power races, which takes place in various locations around the world throughout the 12 months. The league is in the emerging phase – only in the second season – with the predominant plans of expansion. During a stay in Monaco, surrounded by picturesque views of the Mediterranean, Entrepreneur An interview with Rodi Basso, general director and co -founder E1, was interviewed to learn about the strategy, visions and business goals of this new series of Łódź races. Here is a conversation that has been edited for length and clarity.
Entrepreneur: Tell me a bit about the genesis of E1 – what inspired its creation and how did you discover the electric boat racing market?
Basso: The E1 Series is a new sports platform based on the idea of protection and celebration [marine] Lifestyle for future generations of individuals who either live near waters, lakes, oceans, rivers, or go to nearby coastal areas to enjoy it.
We come from the cultural sports culture, where [with] A technological approach and data based, we saw how much it will probably change something, not only in the sports industry, but also in a industrial environment. And so with Alejandro [Agag] (Co -founder and chairman of E1), we identified the gap in the maritime industry.
We desired to build a new platform to be presented [and] Test new solutions. From then on, we’ll develop this platform to essentially influence.
How would you describe the basic E1 business model? Where do the predominant streams of income come from and how do you see how they evolve?
We worked a lot on a strategy and a business model. I’m very passionate about this part. We base our activities on hosting fees. So we decide iconic places where there is a race funds. Then we have boats and provide teams [with] All logistics services, high -level boat maintenance, all telemetry and technology.
Teams pay us to receive these services. And then, of course, sponsors and media. Now, the more we go forward, the more the media will notice us, because the numbers are quite impressive in terms of fans, viewers, digital media and broadcasters – we are very pleased with the results.
And let’s say in the region for 10-15 years, I expect the media to develop into one other large stream of income, of course with sponsorship.
Photo: Shiv Gohil | Spatial media
You mentioned hosting cities. We are now in a beautiful monaco. How do you select cities you need to cooperate with, and what makes the city a good belt for the E1 brand?
Well, as I discussed, E1 concerns a lifestyle near the waters. So we are looking for iconic places where everyone desires to go and visit. We are in Doha, Dubrovnik, Italy, Miami and Lagos – places where there is either a strong and deep culture of marine lifestyle [or] Jacht lifestyle at all levels.
We are not [targeting] one specific segment; We offer exclusive hospitality, but also a more open fan zone [where] Everyone can come for free and feel a bit like a celebrity, having fun with the program.
That is why it is necessary to be in iconic places where there is a lot of care for future generations and the future of water mobility.
Is there a dream city to which you want to to expand E1?
Asia is necessary. We wish to be in Tokyo, Sydney, Singapore, Hong Kong, China, India. There are many culture in Asia often. So we come with this new product and I’m very curious about the response of people there. For me, North America is also very necessary for this easy reason that 75% of swimming markets in free time is in North America.
We also have talents with bands, and many of them are based in America or are Americans – so This is one other necessary part to expand.
How does E1 distinguish from other racing leagues, each in terms of fans demographics and industrial life?
First, we began to see numbers and statistics, and we [saw] Nice balance between fans of men and women watching our product. In addition, in terms of generations, the center of gravity is from 25 to 30 years, which is one other good result.
Of course, we check with governments, check with large firms that are interested in knowing more and having us, but in the meantime it is very necessary to check with future generations, because we would like to make sure we have fans in the future. So we have to draw them and by some means share with them all the pieces we learned about technology, in addition to the need for a blue economy.
Entrepreneur Note: “Blue Economy” refers to the sustainable use of ocean and water resources for economic growth, improvement of income sources and jobs, while maintaining the health of sea and freshwater ecosystems.
You brought loud team owners, equivalent to Tom Brady, Will Smith, Marc Anthony, Lebron James and Rafael. Talk a bit about how a celebrity factor plays the E1 development strategy as a global brand.
It’s an amazing honor and a privilege to have team owners. Inspire people [who] I have all the time worked on the edge of perfection in sport and entertainment – because that is what we are [about]. They also represent our ethos. We are also more than happy that they are part of E1 because they are interested in being part of the influential project. At the same time, they are interested in the business side and could see a good business in which you’ll be able to invest, be part and grow together.
Their presence is unique in our proposal because combining all the pieces [their] Observers, we reach 1.1 billion individuals who can watch our content through digital media. AND [the owners] are lively; They publish, interact and cooperate.
Only being for us [in] The second season is a huge advantage.
What are some of the biggest challenges you had to maneuver in the launch and scaling of E1?
In terms of challenges, at the very starting, [we had] Technical challenges in the definition of foil, understanding how the foil works, and also find pilots, because now we have 18 pilots, nine teams, one man, one woman and alternately. We are quite new in the sports industry and I’m very proud, I can say it [the pilots are] from 11 nationalities. This is an amazing advantage for us.
We have built an academy, and ultimately you never know if people will answer or not, or were excited, and we are glad that we have [about] 20 applications [for pilots]. And we were looking for only 20 pilots, so at the starting there was a superb result.
Then it is a completely new proposal, which appears as a motor meeting point, powerbating and sailing, and we wanted to make use of the best of these three environments, in addition to attract individuals who like to be on water and racing.
I think we selected the right people. We have an amazing team, and events develop and work well.
Entrepreneur Note: “foils” relate to a part of the boat, which works like underwater wings of the aircraft – raising the boat from the water, because it gains speed, reducing resistance and increasing performance, speed and maneuverability.
Picture Loan: Birgit Dieryck | Spatial media
The predominant element of E1 is his conscious environment. Why was it so necessary to you and how you can balance it to be balanced to the environment with successful industrial and scalability?
I worked in other firms before; I’m an engineer and I used to be the sales and marketing director at Magneti Marelli and managing director at McLaren Technologies. [I’ve] I have all the time worked on new drive, electrical and all the pieces. I’m [also] He is very passionate about water simply because I come from a southern city in Italy – Napoli – and I live and breathe in a water lifestyle from birth.
So I combined competences and passion to build E1. And while building E1 I learned a lot about how much we’d like to do for water. We are also proud that Carlos Duarte, an amazing scientist [with the] Japanese award in the field of biology and maritime engineering, and he tells us how much we have to do for coastal areas, water quality, for the blue economy and how many possibilities are in terms of future jobs. So I’m very, very passionate about it. I do not like to call it a strategy, because when you do this, you have a manager Tyka. We are so; It is culture when we develop this new sports platform.
You talked about your origin as an engineer. How does technology and innovations – each in terms of boats themselves and digital commitment – used to create business opportunities for E1?
If we talk about Digital, the first thing that appears in my head is digital media, and today it is a huge solution to reach people and convey our message. When I talk about innovations, it isn’t just about boats; We have also introduced innovations in our media product because of some convincing AR and VR applications, which we also use for business development.
[We use] Drones with the very best resolution and video quality. We have [around] 100 people working on content technologies, and all about digital. Therefore, this is an necessary factor and an opportunity to further introduce innovation in this field. My next [area of] Interest is a way of using AI, because it is not only a fashionable password, but it is something that is happening.
I’m very excited every time we are able to interfere and stand out because of technology.
E1 is very young and in a sense is a bit like a startup. How to administer the team when you invent the category and what advice would you give to other potential founders and general directors of startups?
Well, because of startups he is all the time full, you know? Never a boring day. Everyone is talking about passion. Passion is a spark of vision, but then it requires a lot of labor.
People prefer to say: “work smarter, not harder” – good luck. There is a lot of labor. You must select the right people and [give them] clear roles and duties. This is something I would love [for] Everyone I wish [for] My sons, because this is an amazing journey when you know each other much more under pressure.
If this magic happens, you will likely be successful. So there are several aspects, but it’s an amazing journey that I’ll do again.