My Valet

Short Summary

Revolutionize how people seek and access parking spaces. Open up millions of new spaces in parking that were never utilised before but was available all along.

Highlights

  • Fantastic response from commuters surveyed and top businessmen
  • 100% Residential buildings surveyed believe this can work if secure
  • Massive and real problem----> Tremendous opportunity to disrupt status quo

The Business

Create a platform that will get residential and commercial buildings to list all open parking spaces on an app ala AirBnB. Residential condos/apartments the world over have plenty of parking spots that are wasted real estate because not all tenants have a car.

So instead of buildings/tenants losing money on empty spots, have these spaces listed on our app "My Valet" and as commuters pass by a particular bldg , the app would let them know how many spots are available near them. They could then drop off their car using a valet service (security reasons in residential blgs) whilst making their payment via the app. Tenants who own a parking space in the bldg can also list their space when they go to work and earn of commuters who park there.

The Market

Industry Insights
The global parking management market size was valued at USD 3,980.2 million in 2015 and is expected to witness significant growth over the forecast period. An increased production and usage of cars, especially in the developed and urban parts of the world is driving the parking management solutions growth.

Objectives/Future

Philippines as a pilot. The landscape with traffic congestion and parking problems are chronic. My valet would work tremendously here.
Phase 2: Major cities in India (Delhi, Mumbai, Chennai, Bengaluru, Kolkata)
Aggressively expand throughout the APAC region
Phase 3: Aggressive Global expansion

Problem

Cities the world over have commonalities that they all share. This includes the lack of readily available parking spaces that are conveniently accessible especially in densely populated cities globally. There is a dearth of spaces to park your cars in worst case scenarios leading to several knock on effects -- congestion on the roads, people held up driving around looking for spots and missing appointments, getting to work late, decreasing productivity of the workforce in general. Add to this wasted real estate (revenue loss) in residential condo/apartment parking slots due to lack of utilization amongst their tenants. My valet will fix all of this by utilising a biz model similar to Air BnB where we own the platform not the spaces.

The Team

Dilip Menon : Founder CEO
Yatheender Potnam: Founder COO
Kunal Pandey: Founder CFO

 

Dilip Menon

Six Sigma Consultant - United Health Group Philippines

Six Sigma professional, Lean thinking, transforming multi million dollar businesses for a living through innovation and creativity. Business minded and par excellence at execution. MBA - specialized in entrepreneurship from Asian Institute of Management Makati City.

Strong business network. Well connected to the key influencers.

Yatheender Potnam

Lead Project Manager- Al Tayer Group, Dubai ,UAE

Seasoned leader with Product Management and Consulting experience adept at devising business strategy, product lifecycle management and marketing (B2B & B2C) to go with process automation. Love solving business problems using technology, data and science. Have established new businesses from ground-up integrating cross-platform teams.

High Energy, hungry, driven.

Kunal Pandey

Associate : JP Morgan Chase: Office of Chief Administration Officer

International MBA in General Management & Strategy with seven years of cross-industry and cross-functional experience in Financial Planning & Analysis, Business Analysis for IT and BPO industry.

Broad-based experience in directing financial operations for multi-million dollar enterprise. Demonstrated expertise in all aspects of financial planning & reporting, budgeting, forecasting, and client relationship. Possess outstanding
reputation in maximizing performance of financial operations with emphasis on strategy formulation, procedure development, cost reduction, and profitability improvement. Excel at performing high-profile executive roles, making high-stakes decisions.