Businessman Traveled to Monaco to see E1 raceAn All Electric International Power Boat Racing Series that take place in various locations around the world throughout the year. The league is in its newborn phase – just the second season – with extension plans. While in Monaco, surrounded by the beautiful Mediterranean sight, Businessman Interview with Rudy Basu, the CEO and co -founder of E1, to learn about strategies, vision and business purposes for this new boat racing series. This is the conversation, which has been modified for length and explanation.
Business: Tell me a little about the beginning of E1 – what impressed its creation, and how did you identify the market for a power boat race?
Basu: The E1 Series is a new game platform that is based on the idea of saving and celebrating the (maritime) lifestyle for future generations that either live near water, lakes, oceans, rivers or go to nearby coastal areas to enjoy it.
We come from a motor supply culture, where (()) from a technical and data -driven point of view, we have seen how much difference can it make not only in the sports industry, but also in the commercial environment. And likewise, with Elejandro (co -founder and chairman of E1), we have identified a difference in the maritime industry.
We wanted to create a new platform for the exhibition (and) new solutions. And from now on, we will continue to develop this platform to really affect this platform.
How would you describe the basic business model of E1? Where do the main streams of income come from, and how do you see them ready?
We did a lot of work on the strategy and business model. I am very excited about this section. We make our business based on hosting fees. So, we choose famous places where there are funds for races. After that, we own boats, and we provide teams (with) all logistics services, high -level maintenance of boats, all teleratory and technology.
Teams pay us to get these services. And then, of course, sponsor and media. Now, the more we go ahead, the more the media will take notice of us because the number of fans, viewers, digital media and broadcasters is already impressive – we are very happy with the results.
And likewise, we say in the region of 10-15 years, I expect the media to become another major tax series, of course, with sponsorship.
Image Credit: Shiv Gohil | Space suit media
You mentioned the host cities. We are still in beautiful Monaco. How do you move on to choose the cities with which you want to contribute, and what makes the city suitable for the E1 brand?
Well, as I mentioned, E1 is about lifestyle near water. So, we look for famous places where everyone wants to go and want to go. We are soon in Doha, Jeddah, Dobroon, Italy, Miami and Lagos soon – where there is a strong and deep culture of sea lifestyle (or) or Yating lifestyle at all levels.
We are not a particular class. We offer special hospitality, but a more open fan zone (where) everyone can come for free and feel like celebrities while enjoying the show.
Therefore, it is important to live in famous places where the future of generations and water movements are greatly cared for.
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Is there a dreamer city you like to grow E1?
Asia is important. We want to live in Tokyo, Sydney, Singapore, Hong Kong, China, India. In Asia, there is a lot of culture about power booting Usually so we come with this new product, and I am very interested in seeing people’s reactions there. For me, North America is also very important for this easy reason that 75 % of the markets for leisure boat are in North America.
We also have the capabilities of teams, and many of them are based in the United States or American. This is another important part to expand.
How does the E1 Fan Demographics and commercial reign, how does it differentiate itself from other racing leagues?
Well, first of all, we started to look at numbers and stats, and we saw a good balance between women and male fans watching our products. Also, in terms of races, the center of gravity is between 25 and 30 years, which is another good result.
Of course, we talk to governments, we talk to big businesses that are more interested in knowing and keeping us with, but in the meantime, it is very important to talk to the next generation because we want to make sure that we are fans in the future. So we have to attract them and somehow we have to share with them everything we have learned about technology, and that the blue economy is needed.
Entrepreneur Note: “Blue Economy” refers to economic growth, economic growth, sustainable use of maritime and water resources for economic growth, economic growth, better livelihoods while protecting the health of the maritime and freshwater ecosystem.
You have brought high -profile team owners like Tom Brady, Will Smith, Mark Anthony, Libron James and Rafael Nadal. Talk a little about how the celebrity factor plays E1 as a global brand.
It is an incredible honor and honor to have team owners. They are affecting these people (who) have always been working on the edge of virtue in sports and entertainment – because this is what we are about. They also represent our morals. We are also happy that they are part of E1 because they are interested in being part of an effective project. And at the same time, they are interested in the business aspect, and they can see a good business to invest, be part of it and grow together.
Their presence is unique in our suggestion because by collecting all their followers, we reach 1.1 billion people who can see our content through digital media. And (the owners) are dynamic. They post, they talk and cooperate.
For us, just having two seasons, this is a great benefit.
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What are the biggest challenges you have to launch and navigate E1 in scaling?
In terms of challenges, initially, (we) had technical challenges in praise of the pages, understanding how foils work, and also looking for pilots, because now we have 18 pilots, nine teams, a man, a woman, and they are alternatives. We are new to the sports industry, and I’m so proud to say that (are pilots) coming from 11 nationalities. This is an incredible asset for us.
We created an academy, and in the end, you will never know whether people will respond if people were excited or not, and we were delighted to get 20 requests (for pilots). And we were just looking for 20 pilots, so a great result to start.
Then this is a completely new suggestion, which is coming as a meeting of motorports, power booting and sailing, and we want to take the best of these three environments and attract people who love to live on water and love in the race for love.
I think we chose the right people. We have an amazing team, and events are getting ready and working well.
Entrepreneur Note: The “foil” refers to a part of the boat that acts like an underwater wings – lifting the boat out of the water as it slows down, slows down the drag and increases performance, speed and strategy.
Image Credit: Bridget Direct | Space suit media
A major component of E1 is its environmental consciousness. Why was it so important to you, and how do you balance the environmental sustainable with commercial success and scales?
I was working in other companies before. I am an engineer, and I was a sales and marketing director in Magneti Marily and Managing Director at McLauren Technologies. (I) has always worked on the new propolas system, electric and everything. I am also very excited about water just because I come from a southern Italy city – Napoli – and since I was born, I live in the lifestyle of water and breathe.
So I added the ability and passion to make E1. And during the construction of E1, I learned a lot about how much we need to do for water. We are proud of Japan’s prize (with whom) Japan’s prize in marine biology and engineering, and he is also telling us how much we need to work for coastal areas, water quality, blue economy and how many opportunities are in terms of future jobs. So I’m very emotional about it. I do not like to call it a strategy because when you do, you get a tricking box with the manager. This way we are. This is a culture when we are developing this new platform of this game.
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You talked about your background as an engineer. How are the technology and innovation in terms of both boats and digital engagement to create business opportunities for E1?
If we talk about digital, the first thing that stands in my mind is digital media, and today, this is a great way to reach people and communicate our message. When I talk about innovation, it’s not just about boats. We have also innovated in our media products with some forced AR and VR applications that we also use for business development.
(We use) Drone with excellent potential resolution and video standards. We (about 100) are working on content technologies, and it’s all about digital. So, for us, this is an important factor and opportunity that we continue to innovate in this field. My next (area) interest is how we can use AI, because it is not only a buzzard, but it is something that is happening right now.
I am very excited every time we can disrupt and distinguish ourselves through technology.
The E1 is very small, and in a sense, like a kind of start. How do you guide the team when you invent a category, and what will you advise other potential startup founders and CEOs?
Well, with startups, it’s always full, do you know? Never a dim day. Everyone talks about the spirit. For passion theory, there is a spark for vision, but then, it needs a lot of hard work.
People like to say, “Do better, not hard” – good luck with it. It’s a lot of hard work. You need to choose the right people and (they) ()) to choose clear character and responsibilities. This is something I wish for everyone I wish for my sons, because it’s an incredible journey when you really put yourself under pressure.
If this is the magic, you will succeed. So there are some factors, but this is an amazing journey I will do again.