silicon south west
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Foils from the Silicon South West 'A Leap of Faith' eventTRANSCRIPT
In Need of AirLessons from Air Semiconductor, 2005 to 2010
David TesterFounder, Air
Air Founder Blog ‘In Need of Air’: http://blog.ex-air.co.uk/ Air Website: http://www.ex-air.co.uk/air_website/index.html
Air History: http://www.crunchbase.com/company/air-semiconductor/
Email: [email protected] Tel: +44 7958 052933
In Need of AirLessons from Air Semiconductor, 2005 to 2010
Ten Lessons from Air(…with more lessons I’m happy to share privately)
Lesson #1 Figure out the ‘Big Vision’ and then just get started!#2 Include additional ‘launch’ market in the go-to-market strategy#3 Take the time to build a strong team … quality people are essential#4 Get an early adopter ‘architecture license’ customer#5 Just accept it will take 4 years to create initial (system level) product#6 Spend every $1 as if it’s the last $1 … and get used to that experience#7 Be sure some early customers can be referenced by investors#8 ‘Stealth Mode’ is a myth … your investor pitch will go to competitors#9 Your founder peers will share their experiences with you, so just ask…#10 You will quickly get used to the start-up fear, uncertainty and chaos!
Sell Tesco’s car park to Sainsbury’s
1_.@ DEF32ABC
4GHI MNO65JKL
7PQRS WXYZ98TUV
#0+*
Special offers at
Sainsbury’s today!
Press # for directions
Car park
Location targeted advertising is only possible with‘Always-ON’ positioning in mobile phones
Minimum standbycurrent:
2.1 mA
Average current*:
7.3 mA
Nokia 6233
Minimum standbycurrent:
2.4 mA
Average current*:
7.8 mA
Motorola RAZR V3i
Minimum standbycurrent:
3.6 mA
Average current*:
8.3 mA
Samsung E900
Minimum standbycurrent:
2.6 mA
Average current*:
9.4 mA
SEMC K610im
Minimum standbycurrent:
4.0 mA
Average current*:
8.3 mA
LG KG800 Chocolate
Minimum standbycurrent:
3.1 mA
Average current*:
9.9 mA
BenQ-Siemens SL91
* Current draw based on “average” use assuming battery recharge once every 4 days
‘Always-ON’ GPSThe Key to Proactive Location Based Services
How often does phone battery needs to be recharged if GPS active?GPS must be limited to 1-2mA (or 10% of phone power)
Consumers need almost-instant response; push-to-fix delay of 1 secondMust maintain awareness of location since GPS does not work indoors !
Initial Market: Digital Camera Market and Geotagging
9 M22 M
38 M
62 M
146 M 150 M 155 M 160 M 164 M
2008 2009 2010 2011 2012
GPS enabled DSC's DSC shipments
GPS modules developed by DSC partners
GPS 101Receive Power is -130dBm to -160dBm … 20dB to 50dB below the Thermal Noise Floor!
Regional geo-stationary
augmentation satellites
WAASWide Area Augmentation System – USA
EGNOSEuropean Geostationary Navigation Overlay
System – Europe
Earth radius
6,378 km
19,100 km
20,200 km
23,222 km
Galileo
GPSOrbit 11 hours 58 minutes
13,900 km/h
GLONASS
MoonApprox. 400,000 km
35,786 km
Geo-stationary
GPS6 orbital planes; 55° to equator
Galileo3 orbital planes; 56° to equator
GLONASS3 orbital planes; 65° to equator
Hugh ThomasCEO
Steve GrahamCo-Founder & VP Marketing
Staff
Employee #1 (20 years experience)
Employee #2 (20 years experience)
Contract
Contract #1 (15 years experience)
Contract #2 (15 years experience)
Staff
Employee #3 (20 years experience)
Employee #1 (20 years experience)
Staff
Employee #4 (10 years experience)
Employee #5 (15 years experience)
Employee #6 (15 years experience)
Contract
Contract #3 (20 years experience)
Contract #4 (20 years experience)
Contract #5 (20 years experience)
2x Synopsys IC layout contractors
Staff
Employee #7 (20 years experience)
Employee #8 (15 years experience)
Contract
Contract #8 (20 years experience)
Contract #9 (15 years experience)
RFIC Design System Design ASIC Design Software Design
ex-CEO Andromedia (acquired Macromedia ‘99)
ex-CEO Frictionless Commerce (acquired SAP ‘06)
Hank IzumiVP Sales Asia
ex-CEO PortalPlayer (NASDAQ: PLAY)
ex-CEO S3 (NASDAQ: SIII)
Kent Godfrey
Michael Gera
David Tester
Board of Directors
Gary Johnson
Pond Ventures
Independent
Pond Ventures
ex-CEO TapRootHugh Thomas
Support Staff
1x General Admin
1x Finance ManagerCTO
CEO
Andy HeatonVP Operations
David TesterFounder & CTO
The Air Team
Initial Idea (in 2005) to Prototype Silicon (in 2009)
Red Herring 100 Europe 2008
April ‘08$1.75M Series-A Termsheet
April ‘06
Prof Izzet Kale joins Technical Advisory Board
October ‘08
Demonstrate GPS technology
July ‘08
Recruit external CEO
May ‘08
Exit stealth mode
Announce 1st
product
January ‘08
Gary Johnson joins Board of Directors
2x NASDAQ CEO (PortalPlayer & S3)
May ‘07
A1225 RFIC (v1)
April ‘07
A1250 single die GPS receiver
January ‘09
A1225 RFIC (v2)
February ‘08
J F M A M J J A S O N D
J F M A M J J A S O N D
J F M A M J J A S O N D
J F M A M J J A S O N D
2006 2007
J F M A M J J A S O N D
J F M A M J J A S O N D
J F M A M J J A S O N D
J F M A M J J A S O N D
2008 2009
Air Inc + Ltd incorporated
May ‘06
Development starts!
June ‘06
Engage with TSMC for silicon
Sept ‘06
IET Start-Up of the Year 2008
November '08
Electra Start-Up of the Year 2008
November ‘08
RFIC + FGPA platform
May ‘08
Air tracks GPS satellites with RFIC
March ‘08
Air tracks GPS satellites with RFIC + FPGA
June ‘08
Tracking DSP
Architecture
Acquisition DSP
Architecture
Air first PVT, confirms lab in Swindon
June ‘08
Acquisition DSP
Implementation
Tracking DSP
ArchitectureTracking DSP
Implementation
J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D
Radio IC
Implementation
PVT &
Kalman Filter
Tracking DSP
Implementation
Radio IC
ImplementationA1250
IC design
Dual-Mode GPS
system design
Dual-Mode GPS
software design
A1250 silicon evaluation
SPECIFICATION
COMPLIANT
GPS RECEIVER
Sell Air Patent Portfolio to u-blox
February ‘10
J F
J F
J F
First VC Meeting…
February ‘06
$1.25M Series-A1 Termsheet
September ‘06
$3.8M Series-A2 Termsheet
November ‘07
$1M Bridge Finance
September ‘08
$1M Bridge Finance
February ‘09
$1M Bridge Finance
June ‘09
airwave1 system development platformand prototype sample silicon module
Air Technical Demonstration Platform … in Japan
Air Technical Demonstration Platform … in USA
GPS with airwave1 silicon
Prototype Product Performance
Plot shows 20m (x axis) by 20m (z axis)
Positions grouped into 20cm x 20cm bins
Stationary receiver over 12 hour period
Push-to-Fix TTF @ -130dBm: 2.5sPush-to-Fix TTF @ -150dBm: 2.5s(Future push-to-fix TTF could be <1s)
Unaided cold start: -140dBmUnaided hot start -150dBm(Future hot start sensitivity -154dBm)
Tracking sensitivity: -152dBm(Future tracking sensitivity -160dBm)
Unfiltered CEP50 position accuracy is 2.8 metresCEP50 position accuracy with Kalman Filter <2 metres
Air Prototype SOC GPS Receiver PerformanceExceeds ‘Push-to-Fix’ Requirements for LBS Market
Air Prototype SOC GPS Receiver PerformanceLowest Power, Lowest Die Area GPS Radio (2.1mm2 10.7mW)
$0
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$50
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$550
$600
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Monthly Burn $K Total Burn $M
Air Operating Costs - 2005 to 2010M
on
thly
Bu
rn (
$K
)
To
tal B
urn
($M
)
2006 20082007 2009
Proactive
VC Introductions
Unsolicited enquiries
Customer Status: 174 Active Customer LeadsMarkets:Camera, Cellphone, Laptop PC, Netbook, Digital Watch, Asset Tracking
37 active leads generated proactively by AirIncluding: Ability; Apple; Canon; Casio; DoCoMo; Foxconn; Fujifilm; LG; NEC; Nikon;Nokia; Olympus; Panasonic; Pentax; Ricoh; Samsung Electronics; Samsung Techwin; Sanyo Digital Imaging; Sony Ericsson; Softbank; Sony
20 active leads from VC introductionsIncluding: Google; Motorola; O2; Spreadtrum; Swatch; Vodafone
117 unsolicited enquiries resulting from PR activityIncluding: Mediatek; Microsoft; RIM; Altek; Fujitsu; Hitachi; HTC; Mitac; Compal
CSR / SiRF follow Air Semiconductor ‘Always-ON’
Air Founder Blog ‘In Need of Air’: http://blog.ex-air.co.uk/ Air Website: http://www.ex-air.co.uk/air_website/index.html
Air History: http://www.crunchbase.com/company/air-semiconductor/
Email: [email protected] Tel: +44 7958 052933
In Need of AirLessons from Air Semiconductor, 2005 to 2010
Ten Lessons from Air(…with more lessons I’m happy to share privately)
Lesson #1 Figure out the ‘Big Vision’ and then just get started!#2 Include additional ‘launch’ market in the go-to-market strategy#3 Take the time to build a strong team … quality people are essential#4 Get an early adopter ‘architecture license’ customer#5 Just accept it will take 4 years to create initial (system level) product#6 Spend every $1 as if it’s the last $1 … and get used to that experience#7 Be sure some early customers can be referenced by investors#8 ‘Stealth Mode’ is a myth … your investor pitch will go to competitors#9 Your founder peers will share their experiences with you, so just ask…#10 You will quickly get used to the start-up fear, uncertainty and chaos!
