Listen to this articleveliSo was established to solve cycling problems with intelligent solutions. Losing one cyclist or seeing another seriously injured is something the creators of this company just couldn’t sit and watch happen every day without doing anything about it. It’s affected them personally and, during their R&D, they heard many stories about accidents that could have been prevented with the right solution. In addition, when they looked at the current active and passive safety systems on the market, they just couldn’t believe those systems provided the optimum solution to reduce the impact or prevent cycling accidents from happening. So, they decided to make cycling safety their top priority and started working on it in 2012. Below is our interview with Patrick Keating, the Founder and CEO of veliSo:
Q: Selling safety is an extremely difficult thing to do. When you look at the automotive sector most active and passive systems had to be mandated by law to become standard equipment. Did this experience dissuade you as a company?
A: Yes, it’s extremely difficult to develop and to bring to market in a way that consumers will adopt it and use it too. It’s a sensitive issue to discuss with urban cyclists at any skill level as few will admit that they have been involved or could be involved in an accident. Then, when you explain the main factors causing accidents where riders or drivers of another vehicle don’t even see what they hit or that they misjudge the distance and time to collision riders just don’t believe that they would make such a mistake or be in a position where that could happen to them.
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Q: How do you intend to overcome these challenges?
A: In the medium and long-term the optimum way is to build the veliSo Mirage ARAS and prove it can save lives and reduce injuries. But, in the short-term, we have to use the success that has been obtained in the automotive sector as an example that such a solution can do the same thing. Plus, we have to spend a lot of time educating cyclists and the market on the challenge of minimizing the impact or preventing an accident from happening. The science and behavior issues related to cycling accidents can be very complex and difficult to explain in a understandable manner.
Q: From the response to your Indiegogo Campaign it doesn’t look like that source of funding is going to be able to support your R&D efforts. How do you plan to continue raising funds for veliSo?
A: While we thought we would hit our goal it’s been a worthwhile exercise to use crowdfunding to raise money and validate interest from the market. But, without a fully-functional system with hours of successful results it’s hard to convince a consumer to pay the price we are asking for the veliSo Mirage ARAS or the veliSo V-1 e-Assist Commuter Bike with a fully-integrated veliSo Mirage ARAS. But, it’s a risk we wanted to take and, despite the lack of results, it doesn’t mean that this type of system isn’t a viable option for making cycling safer. We are in continued discussions with financial investors and potential strategic partners in the cycling and automotive OEM and Tier 1 Supplier sectors. Plus, we’ve engaged with the insurance industry to solicit their support too.
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Q: I can understand trying to develop support from OEMs and Tier 1 suppliers, but how would an insurance company benefit from investing in veliSo?
A: Ultimately, the insurance industry has to pay for the fatalities and injuries due to the coverage they provide to consumers. In the EU, on average, on an annual basis there are 2,000 fatalities and 2.0 million serious injuries require hospitalization. While there isn’t a study quantifying the cost here in the EU there was an analysis done in the USA. Over a 17-year period, medical costs of bicycle injuries to adults in the United States, both fatal and non-fatal, amounted to $237 billion, the study found. In 2013 alone, total costs from bicycle accidents exceeded $24.4 billion, the researchers reported. That is approximately double the medical and other various costs involved for all occupational illnesses over the same time period.
Q: What other intelligent solutions is veliSo planning to bring to market in the future?
A: It’s difficult to say right now. We would like to see some type of urban rider air-bag jacket and pants – like what Dainese has developed for motorcycle riders – brought to market. It has been a tremendous success reducing injuries especially in racing. An intelligent tire made with new advanced materials is in our sights too. Since the tire is the only thing separating the bike from the road it is a very important component in need of upgrading.
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